Canopy Growth posts smaller quarterly loss, reiterates going concern doubts
A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 . REUTERS/Chris Wattie/File Photoagain raised doubts about its ability to stay afloat as the Canadian pot producer's loss-making streak continued in the first quarter.
The Smiths Fall, Ontario-based company had C$533.3 million in cash and cash equivalents as of June 30, compared with C$677 million at the end of March.The cannabis firm's quarterly net revenue grew 3% to C$108.7 million, aided by expansion in its BioSteel segment, which makes sports nutrition products.
The company is also facing an investigation from the U.S. Securities and Exchange Commission over the reporting of revenue from BioSteel.
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