Cannabis: Mask wearers might turn pill poppers to catch the ZZZZZs

Snorers annoyed by pesky face masks might enjoy blissful sleep in future years if a sleep apnoea drug from Impression Healthcare (ASX:IHL) gets off the ground.

The $45.3m cannabis products manufacturer is filing a patent for its night-time drug IHL-42X drug.

Impression is plugging the pill as an alternative for conventional CPAP device treatments for obstructive sleep apnoea.

No gummy masks? Noice.

Impression’s patent application is based on the work of chief medical officer Dr Sud Agarwal and medical advisory board member Dr David Cunnington, a specialist sleep physician.

Dr Agarwal said the company viewed the patent application as a precursor to further development of the pipeline drug.

“Having the patent in place affords the Impression team the relevant protection it needs in the near-term to push ahead with further development of IHL-42X,” he told the market today.

Obstructive sleep apnoea, or OSA, is a major problem for sleepers across the world.

After asthma, OSA is the second most diagnosed respiratory condition.

It’s also a “chronic pathology” – or gradually emerging persistent process or disease – that doesn’t have a currently approved pill to pop as treatment.

People with OSA often have CPAP devices to help ensure they sleep better at night and don’t stop breathing.

The widespread use of the machines means the global market for CPAP devices is about $US10 billion ($14.6 billion) a year. Woah.

Face masks, like the ones used with CPAP machines, can be an annoyance for chronic snorers and OSA patients. Some take to napping on the couch instead.

But the possibility of a pill alternative might be a winner.

Impression moved up 1.6 per cent to 6.5c, putting its 12-month gains at 242.1 per cent compared to the ASX 200’s 18.3 per cent.

Gainers and movers

Other sector gainers besides Impression added on no news by lunchtime.

These included Stemcell United (ASX:SCU), which gained 16.7 per cent to 1.4c by lunch after Althea Group (ASX:AGH) also drifted up 1.5 per cent to 34.5c.

Other cannabis stocks stayed or fell, including YPB Group (ASX:YPB) which slipped 14.3 per cent to 0.6c after receiving $600,000 of fundraising capital commitments priced at 0.6c a share from high-quality investors.

The Australia-based cannabis and other products authenticator had $2.3m cash at the end of the September 2019 financial quarter and expected to spend $1.8m in the December 2019 quarter — $600,000 more than it did last quarter.

In other ASX health news today:

Cann Global Limited (ASX:CGB) hopes to make progress on exporting its Canntab Medical Cannabis Pharmaceutical XR pill to Australia. The Sydney company said today a Markham facility was expecting a manufacturing licence in the next 90 days. First revenues for the product will start with blister pack orders made with a 120-day lead time once export permitting is sorted.

Australia-listed cannabis product provider Lifespot Health (ASX:LSH) is targeting a February 2020 product launch for a refillable flower cartridge for its app-controlled Medihale cannabis vaporiser system. The cartridge can be dispensed by doctors or other professionals for a dual revenue stream.

Health, nutrition and wellness investor Eve Investments (ASX:EVE) has returned to the boarse after receiving its first subscription payment of $2.4m from Everhoney Biotech Australia and Hong Kong Jusheng Bolang Technology Company priced at 0.5c a share. A second $6.9m tranche will follow at 1c within the next three months.