Rua Bioscience has revealed that its sales in the first quarter of the 2024 financial year are more than double the total sales of the previous year.
The biotech and medicinal cannabis company attributed this strong performance to its export-led strategy, particularly in Germany and Australia, where new distribution channels have been driving revenue growth.
Rua Bioscience also announced the unconditional sale of its manufacturing facility, which will provide operational flexibility for its ongoing expansion.
The company said it will soon initiate a capital raise to secure the necessary funding for its growth ambitions.
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