Failed marijuana experiment slams Organigram earnings

Organigram Holdings Inc. said Monday that growing marijuana cost it nearly 50% more in cash and harmed its earnings last quarter because the cannabis company tried — and failed — to develop a more efficient growing technique.

HIGHLIGHTS

• Some cannabis operators grow by trimming bits off an already growing plant instead of a seed for a new plant, a process called “cloning.”
• The trimmings are usually taken from so-called mother plants to ensure genetic consistency, but the company attempted to instead use material from plants in their early stages of life.
• While early results were positive, they discovered after a few weeks that it wasn’t working.

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