Medlab kicks off cannabis spray trial for cancer patients at Royal North Shore hospital
Health & Biotech
Health & Biotech
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Medical cannabis play Medlab has shipped its first medicinal cannabis drug to Sydney’s Royal North Shore Hospital, marking the start of a trial for advanced cancer pain.
The company’s lead drug NanaBis — a medicinal cannabis mouth spray — will be tested for safety, efficacy and dose tolerance among cancer patients with managed and unmanaged pain.
“This is what we have been working towards,” managing director Dr Sean Hall told the market.
“It’s a key milestone for the company, we have a validated Good Manufacturing Practice Australian manufactured product that is being used in a robust and much-needed trial.”
Medlab shares (ASX:MDC) climbed 6 per cent to 58c on the news.
>> Scroll down for a table of ASX-listed cannabis stocks and their recent cashflow performance
The trial will be carried out in collaboration with Professor Stephen Clark and the team at the hospital. It’s hoped tests will show the drug as an alternative for opioid use among the patients.
The trial is expected to run over the next few months, with data available later in the year.
“All being well, this trial will form the basis of a NanaBis drug application being put before the TGA [the government’s Therapeutic Goods Administration drug authority] and subsequent global regulator agencies,” Dr Hall said.
Medlab banked $923,000 in customer receipts last quarter and had $21 million left in the bank at the end of the period.
NanaBis is a medicinal cannabis spray used in the mouth.
Here’s a table of ASX-listed cannabis stocks and their recent cashflow performance:
|ASX Code||Company||March quarter receipts||December quarter receipts||6-month price change||Price May 1||Market Cap|