Shares of Aurora Cannabis (ACB) - Get Report were down more than 3% Monday ahead of the company's earnings release Tuesday as equities across the board plunged following an escalation in the U.S.-China trade war.
Analysts polled by FactSet expect Aurora to report a third-quarter loss per share of 50 cents, double what it lost in the previous quarter, on revenue of $67.5 million.
Tilray is expected to report a net loss of 25 cents per share, narrower than the 33 cents it lost in the previous quarter, on revenue of $20.52 million.
Shares of Tilray were down 6.7% to $46.52 in trading Monday.
Aurora Cannabis announced Monday that it has received the first delivery of a commercial batch of finished cannabis derivatives from Radient Technologies.
The two companies first established a partnership in 2017 for Radient to use its cannabidiol extraction technology to create cannabis derived products for Aurora.
"Aurora recognized early that high-throughput, high-quality extraction technologies would be a competitive advantage in a rapidly developing cannabis industry," said Terry Booth, CEO of Aurora. "Our investment will begin to pay dividends with Radient achieving fully licensed, commercial status. Once scaled up, the addition of Radient's technology will significantly increase our ability to deliver high-value cannabis products at scale, complementing our existing internal extraction capabilities, which will support a full suite of derivative products."