ASX Health Stocks: Althea says its cannabis beverage could generate $5m of sales in Canada
Health & Biotech
Health & Biotech
Cannabis company Althea Group (ASX:AGH) announced that its wholly owned subsidiary, Peak Processing, has signed a contract manufacturing agreement extension with Electric Brands Inc (EBI) for a further 2.5 years.
Under the deal extension, EBI agrees to purchase from Peak cannabis-infused beverage products for the Canadian market.
EBI’s existing suite of cannabis beverages includes Sweet Justice, and its hallmark brand of Twisted Classics & Vibrant Sips.
In the first six months of 2023, EBI shipped approximately 560,000 cannabis beverage units, and has established Sweet Justice as a leading independent brand with strong market share in this product category.
Based on these assumptions, Althea says EBI’s existing range of cannabis beverages could have annualised sales of approximately CAD$5.4 million.
Inspired by traditional Mexican colas, Sweet Justice contains a balance of herbaceous aromas which include vanilla, caramel, sarsparilla, and cardamom.
The drink is a fast-acting carbonated beverage with a light dose of 3.5mg THC, and is said to be ‘crafted to minimise any cannabis taste and aroma’.
Clinical stage radiopharma biotech Clarity Pharmaceuticals (ASX:CU6) announced the successful completion of cohort 2 and advancement to cohort 3 in its Phase 2/3 theranostic trial called SECuRE.
The SECuRE trial is evaluating 64Cu/67Cu SAR-bisPSMA in patients with mCRPC, or metastatic castrateresistant prostate cancer.
Results showed there were no dose-limiting toxicities in cohort 2, and positive effects of the 8GBq dose of 67Cu SAR-bisPSMA on all patients. This was demonstrated by a significant reduction in Prostate Specific Antigen (PSA) levels within weeks of a single dose.
Following those results, the Safety Review Committee has recommended that the trial continues to cohort 3.
Recruitment for cohort 3 has opened at clinical sites in the US, where patients will be administered a higher dose level of 12GBq – the highest dose cohort in this escalation phase.
Prostate cancer is one of the largest oncology diseases worldwide and, based on Clarity’s estimates, represents a US$5-10 billion therapy market for PSMA targeting radiopharmaceuticals.
Cell therapeutics biotech Cynata Therapeutics (CYP) has opened recruitment in its Phase 2 clinical trial of CYP-001, in patients with High-Risk acute Graft versus Host Disease (HR-aGvHD).
This global trial aims to enrol approximately 60 patients with HR-aGvHD, who will be randomised to receive either steroids plus CYP-001, or steroids plus placebo. This trial is being managed and funded by Cynata.
The first clinical centre to open for recruitment is Westmead Hospital in Sydney, under the leadership of Professor David Gottlieb.
“Graft versus host disease is a devastating condition, with limited existing treatment options and often very poor outcomes,” said Prof Gottlieb.