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InnoCan Pharma
(INNO)
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Rating:44Neutral
Price Target:
C$2.00
▼(-8.68% Downside)
Action:Reiterated
Date:09/06/26
The score is primarily held back by weak financial performance (ongoing losses, declining TTM revenue, and a return to cash burn) and bearish technicals (below key moving averages with negative MACD). Very strong gross margins and only moderate leverage provide some offset, but valuation signals are constrained by the negative P/E and lack of dividend yield data.
Positive Factors
Strong Gross Margins
Gross margin near 90% provides a strong economic foundation for cannabinoid products and could support reinvestment in commercialization and pharmaceutical development. If maintained, this profitability at the product level may help the company improve operating results as revenue scale expands.
Negative Factors
Unprofitable and Declining Revenue
Persistent operating and net losses, combined with declining trailing revenue, weaken the company’s ability to fund growth internally. Without a return to sustained revenue expansion and positive operating earnings, strong gross margins may not translate into durable cash generation or financial self-sufficiency.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Gross Margins
Gross margin near 90% provides a strong economic foundation for cannabinoid products and could support reinvestment in commercialization and pharmaceutical development. If maintained, this profitability at the product level may help the company improve operating results as revenue scale expands.
Read all positive factors
InnoCan Pharma (INNO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$10.35M
Dividend YieldN/A
Average Volume (3M)2.35K
Price to Earnings (P/E)―
Beta (1Y)-0.84
Revenue Growth-19.20%
EPS Growth42.54%
CountryCA
Employees11
SectorConsumer Defensive
Sector Strength42
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)-0.21
Shares Outstanding4,498,772
10 Day Avg. Volume2,735
30 Day Avg. Volume2,353
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)3.90
Price to Sales (P/S)0.82
P/FCF Ratio45.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
InnoCan Pharma Business Overview & Revenue Model
Company Description
InnoCan Pharma Corporation is a pharmaceutical enterprise dedicated to innovating drug delivery systems that integrate cannabidiol (CBD) with other pharmaceutical compounds. Its operations and development efforts span across the United States, Pol...
How the Company Makes Money
InnoCan Pharma’s revenue model is based on (1) sales of cannabinoid-based products and (2) longer-term monetization of its pharmaceutical development pipeline. Product revenue is generated from selling formulated products (where available) through...
InnoCan Pharma Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 23.45M | 26.61M | 29.44M | 13.66M | 2.56M | 196.00K |
| Gross Profit | 21.22M | 23.93M | 26.19M | 11.98M | 2.11M | 121.00K |
| EBITDA | -1.09M | 130.00K | 961.00K | -3.77M | -3.85M | -10.04M |
| Net Income | -942.30K | -1.12M | -1.83M | -4.70M | -3.89M | -10.06M |
Balance Sheet | ||||||
| Total Assets | 10.35M | 10.52M | 9.26M | 6.94M | 6.98M | 12.57M |
| Cash, Cash Equivalents and Short-Term Investments | 6.44M | 6.69M | 5.01M | 3.88M | 4.95M | 11.05M |
| Total Debt | 1.66M | 930.00K | 10.00K | 33.00K | 34.00K | 1.00K |
| Total Liabilities | 2.95M | 2.29M | 2.24M | 2.55M | 751.00K | 3.56M |
| Stockholders Equity | 4.80M | 5.60M | 5.17M | 4.10M | 6.39M | 9.05M |
Cash Flow | ||||||
| Free Cash Flow | -1.54M | 479.00K | -1.59M | -3.95M | -6.09M | -6.67M |
| Operating Cash Flow | -1.52M | 495.00K | -1.58M | -3.90M | -6.07M | -6.63M |
| Investing Cash Flow | -19.55K | -15.00K | 54.00K | -84.00K | -31.00K | -48.00K |
| Financing Cash Flow | 627.54K | 1.15M | 2.70M | 2.92M | 125.00K | 15.30M |
InnoCan Pharma Technical Analysis
Negative
2.19
Price Trends
2.71
Negative
3.78
Negative
6.15
Negative
Market Momentum
-0.12
Negative
44.31
Neutral
78.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:INNO, the sentiment is Negative. The current price of 2.19 is below the 20-day moving average (MA) of 2.29, below the 50-day MA of 2.71, and below the 200-day MA of 6.15, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 44.31 is Neutral, neither overbought nor oversold. The STOCH value of 78.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:INNO.
InnoCan Pharma Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
53 Neutral | C$32.04M | -6.47 | -13.79% | ― | -6.74% | 43.54% | |
46 Neutral | C$38.48M | -7.83 | -403.29% | ― | ― | -49.66% | |
46 Neutral | C$17.47M | -4.01 | -108.44% | ― | -0.23% | -142.54% | |
44 Neutral | C$10.35M | -8.01 | -19.37% | ― | -19.20% | 42.54% | |
42 Neutral | C$51.29M | -0.76 | -2099.75% | ― | -100.00% | 94.43% |
* Consumer Defensive Sector Average
TSE:INNO
InnoCan Pharma
2.30
-10.25
-81.67%
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InnoCan Pharma Corporate Events
Business Operations and StrategyFinancial Disclosures
Innocan Pharma Q2 Revenue Falls but High Margins and Amazon Leadership Support Expansion Push
Negative
Aug 31, 2026
Innocan Pharma reported second-quarter fiscal 2026 revenue of US$5.25 million, down 25% year over year, with gross profit of US$4.77 million and a gross margin of 90.8%. The period shifted to an operating loss of US$0.51 million, despite maintaini...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.