Q2 2024 revenue of $6.1 million an increase of 85% over Q2 2023Completion of two real world evidence trials on Epidermolysis Bullosa and Musculoskeletal Pain TORONTO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Avicanna Inc. ("Avicanna" or "Company) (TSX:AVCN) (OTCQX:AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products reports the results of Q2 2024. "We are happy to deliver another progressive quarter where we solidified our position in the medical cannabis space, enhanced relationships with the medical community, and stabilized our commercial operations in Canada. In addition, we are happy to report that during the second quarter, we saw the completion of two separate real world evidence trials focused on two of our drug candidates in line with our long-term growth strategy" stated Aras Azadian, CEO of Avicanna Inc. Financial highlights: Revenue of $6.1 million for the three months ended June 30, 2024, an increase of 85% over the same period in 2023 and $12.6 million in revenue for six months ended June 30, 2024, an increase of 180% over 2023 revenue of $4.5 million. Gross profit of $2.8 million and $5.9 million, respectively, for the three and six months ended June 30, 2024, compared to $1.5 million and $2 million for the same periods in 2023, an increase of 94% and 183%, respectively.   Adjusted EBITDA loss for the three months ended June 30, 2024, narrowed to $442,310, a 65% decrease from an adjusted EBITDA loss of $1.3 million in the same period last year.  Other highlights: Completion of Study in Patients with Epidermolysis Bullosa at The Hospital for Sick Children evaluating wound healing, pain, and itch ("Study"). The Study led by Elena Pope, MD, M.Sc., FRCPC, Head of Dermatology at The Hospital for Sick Children in Toronto, evaluated the tolerability and efficacy of RHO Phyto™ branded Ultra CBD Topical Cream in patients with epidermolysis bullosa. 55% of patients enrolled in Study reported improvements in wound healing, 45% displayed wound stability. The RHO Phyto™ branded Ultra CBD Topical Cream is an oil based 3% CBD localized cream developed with the goal to target such dermatology condition.  Completion of Topical Gel Observational Real-World Evidence Study in patients with musculoskeletal pain and inflammation ("RWE Study"). The RWE Study evaluated patient-reported efficacy of the RHO Phyto CBG Transdermal Gel containing 2% CBD and 1% CBG on a range of clinical conditions including arthritis, osteoarthritis, rheumatoid arthritis, fibromyalgia, muscle and joint pain, localized pain, and post-surgical pain. The RWE Study reported a meaningful improvement in ...