|Bid||21.30 x 900|
|Ask||21.33 x 800|
|Day's range||20.92 - 22.16|
|52-week range||20.20 - 120.40|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||12 Nov 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||35.08|
(Bloomberg) -- Tilray Inc.’s Canadian operations should be profitable sooner than the late 2020 target set for the company as a whole, according to Chief Executive Officer Brendan Kennedy.The cannabis company said Tuesday that it expects to generate overall positive earnings before interest, taxes, depreciation and amortization by the final quarter of next year. However, Kennedy said its primary Canadian business should reach the key metric sooner than that.“It’s likely that our business in Canada will be Ebitda positive before the rest of our business, just because it’s at a different stage of development,” he said Wednesday in an interview with Bloomberg TV on the sidelines of Cowen & Co.’s cannabis conference in Boston. “That business is much more mature. We’ve been operating it for six years.” Once-bullish investors have increasingly punished cannabis companies that don’t show a clear path to profitability. Tilray’s shares have fallen about 70% since the beginning of the year amid broad-based weakness across the sector. The stock was also volatile on Wednesday after the company posted a wider-than-expected Ebitda loss.Management’s optimistic forecasts have been thwarted due to a slower-than-expected retail rollout in Canada and regulatory issues in the U.S., but Kennedy said he’s confident that Tilray will meet its guidance, which assumes 800 to 1,000 stores open by the end of 2020.“We have some buffer in our targets,” he said. “That gives us a lot of confidence.”Tilray also said it has enough cash to fund its operations until it reaches positive Ebitda in late 2020, but Kennedy said it has options if it does need to raise capital.“We have about $300 million in real estate and facility assets that we own completely, so that’s clearly one option,” he said. “But at this point we haven’t moved very far down any of those paths.”To contact the reporter on this story: Kristine Owram in New York at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tilray, Inc. (TLRY) delivered earnings and revenue surprises of -72.41% and 3.05%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
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(Bloomberg) -- Tilray Inc. shares jumped as much as 14% after announcing it successfully imported medical cannabis into the U.S. in support of a clinical trial studying its efficacy in treating patients with disorders caused by breast cancer treatments.The study will focus on patients suffering from taxane-induced peripheral neuropathy, or TIPN, secondary to treatment with paclitaxel or docetaxel. TIPN affects more than 67% of women undergoing breast cancer treatment, the company said.“Tilray is committed to advancing cannabis research through its support of clinical trials around the world as we continue to enhance our understanding of the potential benefits of medical cannabis,” Philippe Lucas, vice president of global patient research and access, said in a statement.Tilray shares were trading around $24.87 at 3:25 p.m. in New York, down 65% since the start of the year.To contact the reporter on this story: Gregory Calderone in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Jeran WittensteinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The vaping crisis has brought on some twists and turns for the cannabis sector. New York courts are now weighing an e-cigarette ban.