Aurora Cannabis (NYSE:ACB) shares are trading higher after the company provided a progress update on its previously announced "Business Transformation Plan."
The company said it will exit 2020 at a selling, general & administrative run rate of roughly $42 million and it remains on track for positive adjusted EBITDA in the first quarter of 2021.
Aurora Cannabis, headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis. Although the company primarily operates in Canada, Aurora has expanded internationally through medical cannabis exporting agreements or cultivation facilities in more than 25 countries.
Aurora Cannabis was trading 5.2% higher to $14.42 at the time of publication on Tuesday. The stock has a 52-week high of $95.76 and a 52-week low of $5.30.