Germany has voted to legalise cannabis possession. Picture Getty
Health & Biotech
It hasn’t been a stellar month for global cannabis stocks, with the index falling by more than -12% during the period.
But there’s some good news on the medicinal cannabis front.
A new study from researchers at Charles Darwin University (CDU) and the Royal Melbourne Institute of Technology (RMIT) found that cannabis could kill one of Australia’s deadliest diseases, melanoma.
While treatment could still be years away, the in-vitro study showed there are anti-cancer effects of a specific extract from cannabis sativa called PHEC-66.
According to the study, this strain forces melanoma cells into a “programmed cell death”, also known as apoptosis.
The cannabis extract works by attaching itself to the receptor on the melanoma cell surface, and changes the messages to the inside of the cell to manipulate the normal growth ie: force it to go into death progress.
“If we know how they react to cancer cells, particularly in the cause of cell death, we can refine treatment techniques to be more specific, responsive and effective,” said co-author of the study, Dr Nazim Nassar.
Dr Nassar said the next challenge is to develop a targeted delivery system to the melanoma cells to get it ready for pre-clinical trials.
“Before we take this to human trials, we have to go through animal trials, we have to make sure that these products are safe and effective,” said Dr Nassar.
Elsewhere, the German parliament has legalised cannabis possession in a landmark vote.
The bill would be effective on April 1, allowing people over the age of 18 to possess substantial amounts of the drug in public.
But the law is still imposing strict sales of cannabis in the country; for example it is still illegal to sell marijuana through “cannabis social clubs”.
Under the new German law, adults will also be able to grow up to three cannabis plants at home.
Here’s how the ASX weed stocks have performed, sorted by winners over the past month
| Code | Company | Price | % Week | % Month | % 6-Month | % Year | Market Cap |
|---|---|---|---|---|---|---|---|
| IRX | Inhalerx Limited | 0.0450 | 12.5 | 125.00 | 0.00 | 0.00 | $8,539,513 |
| LV1 | Live Verdure Ltd | 0.5000 | -5.7 | 31.58 | 443.48 | 233.33 | $57,734,331 |
| MXC | Mgc Pharmaceuticals | 0.4500 | 20.0 | 13.92 | -77.50 | -94.38 | $21,925,816 |
| WNX | Wellnex Life Ltd | 0.0250 | 4.2 | 4.17 | -37.57 | -52.05 | $27,074,390 |
| NTI | Neurotech Intl | 0.0990 | -10.0 | 3.13 | 94.12 | 94.12 | $89,488,859 |
| HGV | Hygrovest Limited | 0.0460 | 0.0 | 2.22 | -9.80 | -34.29 | $9,674,288 |
| ALA | Arovella Therapeutic | 0.1425 | -14.9 | 1.79 | 100.70 | 375.00 | $124,896,092 |
| EXL | Elixinol Wellness | 0.0080 | 0.0 | 1.41 | 12.67 | -59.44 | $5,062,973 |
| AC8 | Auscann Grp Hlgs Ltd | 0.0400 | 0.0 | 0.00 | 0.00 | 0.00 | $17,621,884 |
| BOD | BOD Science Ltd | 0.0240 | 0.0 | 0.00 | -64.18 | -60.00 | $4,256,124 |
| BOT | Botanix Pharma Ltd | 0.1750 | -2.8 | 0.00 | -2.78 | 124.36 | $274,767,449 |
| CGB | Cann Global Limited | 0.0210 | 0.0 | 0.00 | 0.00 | 0.00 | $5,614,845 |
| ECS | ECS Botanics Holding | 0.0250 | 13.6 | 0.00 | 4.17 | 8.70 | $32,213,739 |
| EPN | Epsilon Healthcare | 0.0240 | 0.0 | 0.00 | 20.00 | 9.09 | $7,208,496 |
| EVE | EVE Health Group Ltd | 0.0010 | 0.0 | 0.00 | 0.00 | 0.00 | $5,274,483 |
| MDC | Medlab Clinical Ltd | 6.6000 | 0.0 | 0.00 | 0.00 | 0.00 | $15,071,113 |
| ROO | Roots Sustainable | 0.0070 | 0.0 | 0.00 | 75.00 | -41.67 | $1,124,217 |
| LGP | Little Green Pharma | 0.1325 | -8.6 | -1.85 | -22.06 | -22.06 | $39,012,121 |
| EOF | Ecofibre Limited | 0.0930 | 6.9 | -2.11 | -48.33 | -55.71 | $35,235,273 |
| DTZ | Dotz Nano Ltd | 0.1650 | 6.5 | -2.94 | -13.16 | -29.79 | $85,881,527 |
| ZLD | Zelira Therapeutics | 0.8000 | -5.9 | -8.05 | -20.00 | -20.00 | $9,077,724 |
| IDT | IDT Australia Ltd | 0.0890 | -7.3 | -8.25 | 48.33 | 36.92 | $30,227,234 |
| EMD | Emyria Limited | 0.0440 | -6.4 | -12.00 | -53.83 | -75.37 | $16,498,323 |
| AVE | Avecho Biotech Ltd | 0.0035 | 16.7 | -12.50 | -41.67 | -61.11 | $11,092,540 |
| WOA | Wide Open Agricultur | 0.1200 | -7.7 | -20.00 | -63.08 | -41.46 | $21,482,810 |
| CAN | Cann Group Ltd | 0.0620 | -7.5 | -20.51 | -48.33 | -64.29 | $27,123,891 |
| AGH | Althea Group | 0.0300 | -14.3 | -21.05 | -25.00 | -38.78 | $13,069,450 |
| WFL | Wellfully Limited | 0.0030 | -25.0 | -25.00 | -25.00 | -80.00 | $1,478,832 |
| VIT | Vitura Health Ltd | 0.1400 | -9.7 | -45.10 | -60.56 | -73.58 | $80,622,330 |
| BP8 | Bph Global Ltd | 0.0010 | 0.0 | -50.00 | -50.00 | -92.41 | $1,954,116 |
| ME1 | Melodiol Glb Health | 0.0060 | -14.3 | -60.00 | -95.00 | -97.69 | $2,357,976 |
InhalerX has been rising despite revenue falling by 95% for the full year. But investors have been happy after the company announced a new focus in its biotech program.
InhalerX said that following pre-IND meeting feedback from the US FDA in March last year, the company undertook a detailed and careful evaluation process, which has resulted in the decision to promote BTcP (Breakthrough Cancer Pain) as the primary indication of focus for the proposed Phase 2 trial of IRX211.
IRX explained that there are many aspects that make BTcP a more attractive acute pain candidate versus CRPS (Complex Regional Pain Syndrome), its previous focus.
This includes BTcP’s well-established condition compared to the paroxysmal pain episodes in CRPS.
Wellnex said it achieved trading profit in February from normal operations.
Sales of Wellnex’s owned brands continue to grow, with February sales coming in at a record $1.3 million at an average margin of 41%, compared to FY23 historical margin of circa 20%.
The acquisition of Pain Away has resulted in efficiencies in the business, with circa $1.5 million per annum in savings identified.
Arovella has entered into a global, exclusive licence with University of North Carolina Lineberger Comprehensive Cancer Center to incorporate the novel armouring cytokine technology (IL-12-TM) for its CAR-iNKT cell platform.
The technology was developed by Professor Gianpietro Dotti, a pioneer of CARiNKT cells, and was recently published in the prestigious peer-reviewed journal Nature Communications.
When the IL-12-TM technology was tested on mice with neuroblastoma, and the mice were assessed four weeks after dosing, investigators found that CAR-iNKT cells containing IL-12-TM were at much higher numbers in the bloodstream (>10 times) than CAR-iNKT cells that did not contain IL-12.
Investigators also found that approximately 75% of the mice were still alive 60 days after treatment for the IL-12-TM group, while all mice in the group treated with CAR-iNKT cells lacking IL-12 had died.
LGP announced that it has shipped its first batch of LGP- branded high-THC Desert Flame cannabis flower products to Poland.
The shipment is the culmination of an over three-year process which included obtaining a Polish Marketing Authorisation from the Polish health regulator, with the products to be distributed in Poland by LGP’s distribution partner, Medezin.
With a population of 38 million and an import only supply regime, the Polish cannabis market is currently serviced by less than 10 suppliers, predominantly large North American suppliers such as Curaleaf, Aurora, Canopy Growth and Tilray, with LGP being the first Australian company in market.
Health & Biotech
Health & Biotech
Health & Biotech
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