Pharmocann News
8 articles
ספונסר תקלה
פארמוקן, a medical cannabis company in Israel, has raised 6.5 million shekels through a public stock offering. The company received additional orders totaling 14.8 million shekels, but chose to accept a lower amount. The CEO of פארמוקן, Liran Helfon, participated in the offering and purchased stocks worth 1.6 shekels. The fundraising was led by Valio Base, which also increased its stake in the company. פארמוקן has been a pioneer in the medical cannabis field in Israel since its establishment in 2008. Recent changes, including the entry of Yair Lerner, have raised questions about the companys future.
Investment
פארמוקן מנפיקה במחירי סוף עונה והמניה התרסקה ב־27% | כלכליסט
Israeli cannabis company Pharmocann is planning to issue up to 70% of its existing shares at a minimum price of half a shekel per share, despite trading at more than one shekel yesterday. The companys value has plummeted to 7 million shekels, a skeleton stock exchange value. The company is burning cash at a rate of 5.2 million shekels a year and has only 1.2 million shekels left in its cash box. The company has been making heavy losses and has been hit by a fungus in its crops. The company has also seen a series of personnel changes.
InvestmentLayoffs
פטרייה חדרה לקנאביס של פארמוקן; המנכ"ל עזב במפתיע
Pharmocann, an Israeli cannabis company, is facing a crisis as its stock plummets by approximately 16% following the discovery of a fungus in some of its raw materials. The company also announced the immediate departure of its CEO, Gil Hovav, who will be replaced by Liron Halfon, a director in the company. Pharmocann has been struggling to compete in the new cannabis market, with its stock losing 83% of its value in the past year. The company reported a heavy loss of NIS 19.3 million in 2021, despite similar revenues to 2020. The companys revenue in Israel is now threatened by the fungus, making it difficult to see how Pharmocann can recover from this crisis.
Management Changes
פארמוקן מרחיבה את כושר הייצור
פארמוקן גלובל, a leading medical cannabis company in Israel, has signed an agreement with Plantis Agro. Plantis will grow selected strains in a new facility using innovative technology, similar to the strains grown by Pharmocan. The agreement requires Plantis to provide Pharmocan with a minimum of 4 tons of results over a period of 3 years. Initial sales from commercial cultivation at Plantis are expected to take place in the fourth quarter of 2022. Pharmocan estimates that the total revenue over the duration of the agreement will be around 60 million NIS. This facility will be the third where Pharmocan grows its unique strains, in addition to its sites in Tzippori and Ein Harod. The agreement will allow Pharmocan to expand its production capacity to up to 7 tons per year.
Partners
קנאביס, טייק 2: פרופ' זאב רוטשטיין יעמוד גם בראש פארמוקן כלכליסט
Pharmocann Global, a medical cannabis company listed on the Tel Aviv Stock Exchange, has appointed former CEO of Sheba and Hadassah hospitals, Prof. Zeev Rotstein, as chairman of the board. Rotstein will replace outgoing chairman Danny Gilerman. In addition to his role at Pharmocann, Rotstein will also serve as president and head of the scientific committee at EMP, a company developing cannabis-based drugs. The two roles are separate and the companies are different in nature. Pharmocann is involved in the production, marketing, and distribution of medical cannabis, while EMP is focused on drug development.
Management Changes
Pharmocann teams with Shamir Institute on magic mushrooms
Pharmocann, an Israeli cannabis company, has announced a joint venture with the Shamir Research Institute to research and develop psychedelic drugs based on psilocybin mushrooms. The company will be majority-owned by Pharmocann and will focus on using psilocybin to treat depression and Alzheimers disease. Pharmocann has already started cultivating different strains of mushrooms for research purposes. The joint company will benefit from the Shamir Research Institutes expertise in psilocybin mushroom research. Pharmocann will invest $110,000 in the joint venture and receive exclusive rights to the institutes intellectual property related to mushrooms. The announcement has a positive impact on Pharmocanns growth prospects.
PartnersInvestment
פארמוקן מדווחת על תוצאותיה הכספיות לרבעון הראשון של 2021
GMP-��� reported a 76% decrease in revenue in 2021. The companys financial performance declined, with a 0.4% decrease in profit and a 0.2% decrease in revenue. The article discusses the challenges faced by the company and the impact on its growth. The companys customer base has been affected, and it has also experienced a decrease in investment. The article does not mention any specific partners or customers. The date of the event described in the article is not provided. The confidence level of the answer is 7.
CustomersInvestment
WeedMD Exports Cannabis Genetics to Israel's Pharmocann
WeedMD Inc., a cannabis producer and distributor, has exported its cannabis genetics to Israels Pharmocann, a medical cannabis producer. This move strengthens Pharmocanns genetics library and expands WeedMDs list of international genetics customers. WeedMD and Pharmocann share a goal of producing premium brands for patients. WeedMD is a federally-licensed producer and distributor of cannabis and cannabis oil in Canada. They operate two facilities and have a multi-channeled distribution strategy. The date of the event described in the article is November 27, 2018.
Partners
