INNPF - CBD-Focused Pharma Co. Innocan Reveals 433% YoY Increase In 2023 Revenue As It Pursues FDA Approval | Benzinga
Cannabinoids-focused pharmaceutical company Innocan Pharma Corporation (CSE:INNO) (FSE: IP4) (OTC:INNPF) said on Tuesday it expects its preliminary revenues in the fourth quarter of fiscal 2023 to equal to $4.89 million, representing a sequential and year-over-year increase of 20% and 331%, respectively.
The company, which operates in Canada and Israel, said preliminary revenues are expected to be at least $13.6 million for fiscal 2023, representing a 433% year-over-year increase.
The surge in revenue was driven by the robust sales performance of Innocan’s subsidiary, B.I. Sky Global Ltd., says the company.
FDA Approval
In addition, Innocan is pursuing the Food and Drug Administration's (FDA) approval for its human pharmaceutical applications, following successful pre-clinical trials.
The company expects pre-investigational new ...