InnoCan Pharma Swings to Second-quarter Loss, Lower Revenue

04:26 PM EDT, 08/31/2026 (MT Newswires) -- InnoCan Pharma (INNO.CN) after trade Monday reported a second-quarter operating loss of $508,000, compared with an operating profit of $396,000 a year ago. Per-share figures were not given. Revenue for the quarter ended June 30 fell about 25% to $5.25 million from $7.01 million a year earlier. Corresponding FactSet figures were not available. The company said its consumer wellness unit, BI Sky, had a gross margin of 90.9% during the quarter. "The company's results were also impacted by the Trump administration's frequently changing policies regarding customs duties and tariffs, which created significant uncertainty that led to a decline in sales in the period," Chief Executive Iris Bincovich said. InnoCan Pharma had about $6.4 million in cash and cash equivalents and $10.37 million in total assets as of June 30, Bincovich added. The company's shares closed up C$0.27, or 12%, to C$2.44 on the Canadian Securities Exchange.