Brickell Biotech Inc
Change company Symbol lookup
Select an option...
BBI Brickell Biotech Inc
VTOL Bristow Group Inc
VTRS Viatris Inc
MSFT Microsoft Corp
NTB Bank of N T Butterfield & Son Ltd
CHN China Fund, Inc.
IGR CBRE Global Real Estate Income Fund
SURRY Sun Art Retail Group Ltd
VPV Invesco Pennsylvania Value Municipal Income Trust
HLBZ Helbiz Inc
Go

Health Care : Biotechnology | Small Cap Value
Company profile

Brickell Biotech, Inc. is a clinical-stage pharmaceutical company engaged in developing prescription therapeutics for the treatment of autoimmune, inflammatory, and other debilitating diseases. The Company’s pipeline combines several development-stage candidates and a cutting-edge platform with autoimmune and inflammatory disorders program for the treatment of primary axillary hyperhidrosis. Its products include Cialis, Taltz, Gemzar, Prozac, Cymbalta and Juvederm. Its lead development-stage program, BBI-02, is a Phase I ready, highly selective, and orally bioavailable DYRK1A inhibitor that has demonstrated in various preclinical models, including atopic dermatitis and rheumatoid arthritis. BBI-10, the Company’s lead early-stage STING inhibitor candidate, is a novel, potent, and orally available covalent STING inhibitor that specifically targets the palmitoylation site of STING, which allows to inhibit both wild-type STING and gain-of-function mutants.

Premarket

Last Trade
Delayed
$3.60
0.10 (2.86%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$3.50
Day's Change
0.00 (0.00%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
3,007

10-day average volume:
472,875
3,007

Aurora Cannabis Repurchases US$20 Million of Convertible Notes

7:00 am ET June 3, 2022 (PR Newswire) Print

Aurora Further Strengthens Balance Sheet with Accretive Debt Reduction

Aurora Cannabis Inc. ("Aurora" or the "Company") (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that it has repurchased an aggregate of approximately $25.3 million (US$20 million) principal amount of its convertible senior notes ("Notes") at a total cost, including accrued interest, of $24.3 million (US$19.2 million) in cash.

https://mma.prnewswire.com/media/1832126/Aurora_Cannabis_Inc__Aurora_Cannabis_Repurchases_US_20_Million_o.jpg

The purpose of the transaction, which represents a repurchase of a portion of the Notes at a 5.25% discount to par value, was to reduce the Company's debt and annual cash interest costs. Annual cash interest savings from the repurchases of Notes made from Q3 2022 onwards now total $9.5 million (US$7.5 million).

Aurora's balance sheet is among the strongest in the industry with approximately $455 million in cash inclusive of the transaction announced today, and the Company reiterates its expectation of achieving a positive Adjusted EBITDA run rate by the first half of fiscal 2023.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.

About AuroraAurora is a global leader in the cannabis industry, serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard, as well as CBD brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched.

Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB" and is a constituent of the S&P/TSX Composite Index.

Forward Looking StatementsThis news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding the purpose of the debt repurchase and the Company's path and timing to achieve Adjusted EBITDA run rate.

These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations, management's estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises, including the current outbreak of COVID-19, and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information form dated September 27, 2021 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com and filed with and available on the SEC's website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

https://c212.net/c/img/favicon.png?sn=TO78021&sd=2022-06-03

View original content to download multimedia:https://www.prnewswire.com/news-releases/aurora-cannabis-repurchases-us20-million-of-convertible-notes-301560693.html

SOURCE Aurora Cannabis Inc.

https://rt.prnewswire.com/rt.gif?NewsItemId=TO78021&Transmission_Id=202206030700PR_NEWS_USPR_____TO78021&DateId=20220603

comtex tracking

COMTEX_408149044/1005/2022-06-03T07:00:11

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.