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Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF), the cannabinoid-focused biopharma company, has reported its strongest financial year to date, with 2024 revenue climbing 52% year-over-year to $25.5 million and gross profits nearly doubling to $12.9 million. The company also achieved a 51% consolidated gross margin, thanks to expanded licensing revenue and manufacturing efficiencies.

CEO Aras Azadian praised the results as a turning point. “In 2024, we became self-sufficient, expanded internationally, and continued our mission to advance cannabinoid-based medicine,” Azadian said, citing major strides in both clinical development and commercial execution.

Financial Highlights:

• Annual revenue: $25.5M (↑52% YoY)

• Gross profit: $12.9M (↑94% YoY)

• Gross margin: 51% (up from 40%)

• Adjusted EBITDA: ($1.4M) loss, improved from a ($4.3M) loss in 2023 (↑68%)

• Debt repaid: $1.3M in outstanding principal from 2023 debentures

Commercial & Clinical Expansion:

Avicanna closed the year with 42 proprietary SKUs and 200,000 units sold in Canada, up 8% from 2023. International expansion included regulatory drug approval in Colombia for Trunerox™, a cannabinoid treatment for rare epileptic syndromes like Dravet and Lennox-Gastaut.

The company also delivered topical products to a multinational pharma partner, signaling growing B2B traction. Both the 3% CBD cream and the CBD/CBG gel are based on Avicanna’s patented deep tissue technology, now protected under two new U.S. patents covering both topical and oral cannabinoid formulations.

Clinical Progress:

Several real-world studies were completed, including:

• Medical Cannabis RWE Study (1,000-patient target) exploring cannabinoids for pain, anxiety, and epilepsy.

• EB Study with Toronto’s Hospital for Sick Children, where 55% of patients reported improved wound healing using Avicanna’s 3% CBD cream.

• Musculoskeletal Pain Study showing a 35.4% improvement in health outcomes among patients using the company’s transdermal gel.

Looking Ahead:

The company will host an earnings call on April 22 at 8:30 a.m. ET. With debt reduced, losses narrowing, and commercial partnerships expanding, Avicanna appears poised for a potential breakthrough year in 2025, riding the wave of global interest in pharmaceutical-grade cannabinoid therapies.

Bottom line: From regulatory wins and product launches to solid financial footing, Avicanna’s 2024 was all about proving the model. Now, it’s about scaling it.

📈 Dog Walkers.

Trulieve Doubles Down

What’s Going On Here: Trulieve is doubling down on its push for adult-use cannabis in Florida, contributing over $19.4 million to the Smart & Safe Florida committee in Q1 2025, including $84K in in-kind support, according to state finance filings. While other donors chipped in just $1,420, Trulieve remains the primary backer after investing $145 million in the failed 2024 campaign, which fell short of the required 60% voter approval.

The new 2026 effort is well underway, with 150,804 valid petition signatures submitted as of late March—still far from the 880,062 needed to qualify for the ballot. Most spending so far has gone toward signature gathering as the campaign regroups with a revised proposal for the next election cycle.

Why This Matters: It looks like we are setting up for round 2 in the fight against DeSantis to legitimize cannabis in the Sunshine State.

Curaleaf Sings The Anthem

Whats Going On Here: Curaleaf (TSX: CURA | OTCQX: CURLF) has launched Anthem, a new pre-roll brand inspired by classic Americana and designed for modern cannabis consumers. Featuring a signature 10-pack of 0.35g pre-rolls, Anthem is now available in New York, Illinois, Massachusetts, and New Jersey, with Florida and Arizona joining in April—plus a 5-pack debut in Florida.

Anthem pre-rolls stand out with sleek cylindrical design, a flip-top box, and curated blends of American-grown cannabis for consistent sativa, indica, or hybrid effects. CEO Boris Jordan calls it a celebration of U.S.-made cannabis, reinforcing the industry's economic value amid ongoing regulatory hurdles. Anthem joins Curaleaf’s robust brand lineup, including Select, Grassroots, and Zero Proof.

Why This Matters: This product speaks to the current nationalisitic movement taking place in the U.S. whether you like it or not. The authenticity is there and the brand and form factor look ready for primetime.

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📺 YouTube

Jushi CEO Talks Virginia PA DC, Cannabis Reform Update | Trade to Black

What we will cover:

✅Host Shadd Dales and Anthony Varrell welcome back Jim Cacioppo, CEO of Jushi Holdings (OTC: JUSHF), for a wide-ranging discussion on key developments shaping the U.S. cannabis landscape.

Jim dives into Virginia’s evolving medical market, where a recent clean-up bill—backed heavily by Democrats—provides targeted support for industry players like Jushi. With elections on the horizon, attention turns to the state’s two leading gubernatorial candidates and what their policies could mean for cannabis reform in 2026.

Shifting focus to Pennsylvania, Jim offers a quick update on the political climate and outlines how a move to adult-use legalization could significantly benefit Jushi’s footprint in the region.

Looking ahead, Jushi’s upcoming earnings call is confirmed, with Jim highlighting the company’s strengthened cash position thanks to a recent debt deal and favorable IRS activity.

Also joining the episode is David Culver of the U.S. Cannabis Roundtable, who brings an insider’s take on the latest developments in Washington D.C., including growing momentum on cannabis rescheduling and the Trump administration’s role in shaping future reform.