After witnessing a cash burn of $368k in the previous quarter, Cannabis-based pharmaceutical company Althea Group (ASX: AGH) has entered cash flow positivity from its operating activities in Q1 FY24, resulting in a net cash inflow of $35,000. This achievement can be attributed to the Company’s successful cost-cutting initiatives, which have begun to yield results.
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Cannabis is the most widely-used illicit drug worldwide; about 2.5% of the world, i.e. approximately 150 million people, consume cannabis, and Australia is among the top countries leading the trend. While it sounds the alarm on the concerning drug abuse problem, it also signals a profitable market for companies in the field. Cannabis-based medicine and
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The cheers of the cannabis industry can be heard loud and clear as the demand for the plant continues to prop up their profits. The last few years have been huge for the industry as companies attempt to strengthen earnings by out-scaling competitors. One company hoping to come out on top is Althea Group (ASX:
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