Khiron Serves Record Number of Patients With Khiron Products Globally in Its Medical Treatment Clinics
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC) the global medical cannabis leader, continues expansion of the Khiron end-to-end solution throughout Latin America and Europe. Khiron's growth aligns with its mission to improve consumers' quality of life through its global network of medical cannabis treatments clinics.
Khiron is serving a record number of patients who are being treated with Khiron products globally. The company has recently reached a cumulative stock of more than 100.000 bottles of medical cannabis sold. This network of medical treatment clinics allows Khiron to collect evidence and conduct studies on the usage of medical cannabis. The groundbreaking analysis of the benefits of medical cannabis sets Khiron apart from any other cannabis companies in today's marketplace
Khiron has posted record 2022 Q1 numbers that included revenue of $4.6 million, a 65% increase from Q1 2021, as well as record revenue in medical cannabis of over $2.6 million in Q1 2022, a 470% increase from the prior year. Q1 2022 showed an operating cash outflow of 2.8 million against a total receivable of 4.4 million. Khiron continues to grow thanks to the infrastructure that the company has built and some of the newer operations are already becoming profitable and EBITDA positive. Khiron is reducing expenses, selling high margin products, and being disciplined in the expansion approach.
In countries such as Colombia and Germany, Khiron is benefiting from patients' ability to utilize their health insurance for treatment in its medical cannabis clinics. This exemplifies the opportunity on the path forward for a global cannabis company such as Khiron to leverage the health insurance expansion that will continue to cover more and more markets.
Below is a status on Khiron's 2022 business developments, marking is a growth year for Khiron expansion throughout both Europe and Latin America:
Colombia
Peru
Mexico
Brazil
Khiron is a leading global medical cannabis company with expanding operations in Latin America and Europe. Leveraging wholly-owned medical health clinics and proprietary telemedicine platforms, Khiron delivers an end to end solution combined with a patient-oriented approach, physician education programs, scientific expertise, and product innovation, Focusing on creating access to drive prescriptions, brand loyalty with patients worldwide, Khiron is growing its business throughout Colombia, Germany, UK, Peru, and Brazil, and is positioned to begin operations in Mexico. Khiron is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors, with headquarters in Bogata, Colombia.
Visit Khiron online at https://investors.khiron.ca
Linkedin https://www.linkedin.com/company/khiron-life-sciences-corp/
This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information and statements contained herein reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding the future regulatory developments and economic conditions, the Company's ability to continue its growth and reduce costs. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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November 16, 2023 June 05, 2023 |
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