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Buds & Duds: Tilray rises ahead of earnings release, Harvest One and Flowr ink sales deals

Meanwhile, GW Pharmaceuticals fell after agreeing to sell its Rare Pediatric Disease Priority Review Voucher

A dollar bill in the shape of a marijuana leaf
Harvest One and Flowr will each have products available through Shoppers Drug Mart

Cannabis stocks grew nicely Monday, as US markets continued to make gains. 

The North American Marijuana Index, which tracks leading cannabis stocks, was up 2.2% to 298. 

Buds

Shares of Tilray Inc (NASDAQ:TLRY) are up Monday in anticipation of a fourth-quarter earnings release after the bell. A lot changed since the company’s third-quarter wrapped in September — namely, Canada legalized cannabis. Analysts expect a loss of $0.12 per share on average on revenue of $14.15 million.

The stock grew 0.7% to $73.

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) reached an agreement Monday to supply medical cannabis to Shoppers Drug Mart via its wholly-owned subsidiary and cultivation arm United Greeneries Ltd. The Vancouver-based company will provide Satipharm brand — another Harvest One subsidiary — medical cannabis to be sold on Shoppers’ website.

Shares spiked about 15% to C$0.91 on the TSXV and US$0.69 on OTC markets.

READ: Harvest One to supply medical cannabis to Shoppers Drug Mart

The Flowr Corporation (CVE:FLWR) will also have products available at Shoppers Drug Mart, the company announced Monday. The Markham, Ontario-based company’s FlowrRx products will be available on the pharmacy’s medical cannabis website.

Shares blossomed, up 2% to C$6.96.

Duds

GW Pharmaceuticals (NASDAQ:GWPH) agreed to sell its Rare Pediatric Disease Priority Review Voucher for $105 million, the company announced Monday. The UK-based company was the first cannabis company to receive the voucher from the FDA for its treatment of seizures associated with rare childhood epilepsy, according to MarketWatch. The company plans to invest the revenue into the commercial launch of the drug, known as Epidiolex, in the US and Europe.

Shares dropped 1.3% to $167.12.

 

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Tilray Inc

Price: 10.26 USD

NASDAQ:TLRY
Market: NASDAQ
Market Cap: $1.28 billion
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