NZX-listed medicinal cannabis firm Rua Bioscience remains at a crossroads, urgently needing more cash to keep its export growth going, but a revenue upgrade for the first quarter of 2025 has given shareholders some green shoots to hold on to.
The company said in the first quarter of the 2024/25 financial year it had made $223,000 in revenue, compared with $86,000 in the first quarter of the 2023/2024, as a result of successful product launches in Germany, Australia, and New Zealand.
Notably, the product's "legacy genetics' - unique cannabis strains discovered and grown at Rua's facility Mangaporo, at Ruatorea in north Tairāwhiti [Gisborne] that have been parlayed into a dried flower called Rua Rau Hiwa - were launched into the $450 million Australian medicinal cannabis market in August, with the company leaning heavily into the "New Zealand legacy genetics" marketing of the product.
Read more at The Press.