Elixinol was required to detail its funding position to the ASX after its September quarter filing revealed just 0.3 quarters of available cash.
Under ASX listing rules, companies with less than two quarters of funding must explain whether existing cash flows are sustainable, outline steps being taken to raise capital, and confirm their ability to continue operations.
Elixinol told the market it expected cash outflows to improve in Q4 as margins and EBITDA strengthened through organisational restructuring, overhead reduction, SKU rationalisation and supply chain optimisation.
The company pointed to a two-tranche $2.5m capital raise – with $632,000 received in Q3 and $1.87m due this month – along with access to e-commerce and trade-debtor finance facilities, as sources of near-term support.
It said these measures, along with reduced net cash outflows would help the firm to achieve “breakeven and profitability through strict cost containment and reduction.”
Elixinol reported Q3 revenue of $3.8 million, broadly in line with the prior year, while operational cash outflows totalled $1.3m and cash at bank stood at $0.4m.
Aurora
Aurora Cannabis, the Canadian parent company of MedReleaf Australia, reported record second-quarter FY2026 results, highlighting continued growth in Australia as part of a strong international medical cannabis performance.
Although it did not disclose figures for MedReleaf, the firm said “higher sales to Australia” – as well as Germany, Poland and the UK, lifted international medical cannabis net revenue 22% year-on-year to C$42.7 million (A$46.5 million).
Overall, global medical cannabis revenue rose 15% to a record C$70.5 million (A$76.8 million). Adjusted EBITDA increased 52% to C$15.4 million (A$16.8 million), while total net revenue rose 11% to C$90.4 million (A$104.3 million).
The company ended the quarter – covering the three months to September 30 2025 – with C$141.9 million (A$154.6 million) in cash and a “debt-free cannabis business.”
Avecho Biotechnology
Avecho ended the September quarter with $4.6 million in cash as it continued recruitment for its Phase III CBD insomnia trial, backed by pharmaceutical giant Sandoz, with 160 patients now dosed.
The firm said recruitment for the trial slowed slightly due to winter illness at clinical sites but has since normalised, keeping the study on track for interim analysis in the first half of 2026.
Avecho said its $4.6m cash balance provided around 3.5 quarters of funding at current expenditure levels.
Operational spending remained focused on advancing the trial and related manufacturing and regulatory work, resulting in quarterly net outflows of $1.3m.
After the quarter closed, Avecho raised a further $2.5m through a placement to investors.
The firm said the money would accelerate manufacturing scale-up and technology transfer to its contract manufacturer ahead of a planned TGA submission for its CBD product, which aims to become Australia’s first over-the-counter cannabinoid treatment.
Cann Group
Cann Group has received a short-term extension from National Australia Bank (NAB) as it finalises a $15.3 million settlement that will wipe more than $54m in debt from its books.
The expiry dates of the debt facilities – covering its construction loan and working capital facility – were pushed back from 31 October to 11 November, with all other terms unchanged.
The additional time allows both parties to complete the deal announced last week, under which NAB will release all security, discharge mortgages, and close all loan facilities for a $15.3m payment.
Cann Group said the deed was in the final stages of review, with execution expected on or before 11 November.
InhaleRx
InhaleRx reported net operating cash outflows of $310,000 in the September quarter as it advanced preparations for clinical trials of its two inhaled cannabinoid therapies.
The company said quarterly spending included $146,000 in clinical development and $197,000 in corporate costs, offset by a $77,000 GST refund.
Payments to directors and employees totalled $45,000, with the firm maintaining what it described as a “disciplined approach” to operating expenditure, supported by modest cash burn and secured long-term funding for its clinical programs.
Manufacturing of trial material for the Phase 2 IRX-211 study – an inhaled THC formulation for breakthrough cancer pain – began during the period, with ethics approval for the amended protocol granted in late October ahead of patient screening and dosing.
Development work also continued on IRX-616a, a synthetic CBD inhaler for panic disorder, with site activation and trial preparations underway at CMAX in Adelaide.