Medical Marijuana Company Lost $5.3M in 2017
ST. PAUL (AP) -- One of Minnesota's medical marijuana manufacturers lost $5.3 million in the year before its chief executive left the company.
That's according to new 2017 financial documents on LeafLine Labs released by the state to The Associated Press. Those losses bring LeafLine's total losses to $12.2 million in the first three years of legal medical marijuana sales.
The Cottage Grove-based company confirmed Thursday that chief executive Andrew Bachman was no longer with the company. LeafLine's statement did not give a reason for his departure and Bachman didn't respond to requests for comment.
It's the latest setback for one of two medical marijuana manufacturers in Minnesota. Two top executives left LeafLine last year and it temporarily scaled back its operations last fall during a supply shortage that it blamed on lab testing delays.