Weed Week: Greens push hard to legalise cannabis and Cronos has 3% of Aussie GPs on its platform already

The Greens want to legalise cannabis across Australia with 40% of Aussies having used the drug
Cronos is continuing the staged rollout of its Canview 2.0 platform with 800 doctors now registered
Avecho’s oral cannabidiol drug for dogs performs well against its main competitor

The Australian Greens are pushing hard with a national plan to legalise cannabis, after Senator David Shoebridge obtained “compelling constitutional law advice that provides a path forward for Federal Parliament to legalise cannabis for adult use across the country.”

“We’ve got a new Parliament, a mandate for change, and Greens in the balance of power in the Senate,” they said.

“This is the best chance we have ever had.”

According to the 2019 National Drug Use Household Survey, 40% of Australians have used cannabis (seems a bit low tbh) and more than 60% of Sydneysiders want cannabis legalised.

With a slogan like “Yes We Cannabis” what could go wrong?

One of the most unexpected moments from our #cannabis campaign this week was being called ‘the devil’s lettuce daddy of Australia’ by @pedestriandaily

Truly a career highlight.

— David Shoebridge (@DavidShoebridge) September 29, 2022

ASX WEED STOCKS

Code	Company	Price	% Year	% Six Month	% Month	% Week	Market Cap
ROO	Roots Sustainable	0.0045	-47%	-25%	13%	50%	$3,373,347.10
ALA	Arovella Therapeutic	0.031	-37%	-23%	19%	19%	$20,125,524.24
IRX	Inhalerx Limited	0.069	-23%	-23%	23%	17%	$11,792,686.99
CAU	Cronos Australia	0.6975	329%	145%	102%	16%	$376,972,078.04
ECS	ECS Botanics Holding	0.023	-43%	-18%	-18%	5%	$24,348,074.67
BOD	BOD Australia	0.085	-73%	-46%	-14%	4%	$10,184,010.36
EXL	Elixinol Wellness	0.029	-72%	-47%	-22%	4%	$8,222,904.85
EOF	Ecofibre Limited	0.235	-72%	-43%	-18%	2%	$82,010,431.13
HGV	Hygrovest Limited	0.068	-15%	8%	3%	1%	$15,406,917.00
CTV	Colortv Limited	0.008	-92%	-68%	0%	0%	$1,236,985.07
SCU	Stemcell United Ltd	0.0132	0%	0%	0%	0%	$14,915,371.55
MRG	Murray River Grp	0.245	7%	0%	0%	0%	$10,808,210.04
TSN	The Sust Nutri Grp	0.14	-57%	8%	0%	0%	$16,884,893.90
RGI	Roto-Gro Intl Ltd	0.011	-66%	0%	0%	0%	$3,768,520.77
AVE	Avecho Biotech Ltd	0.011	-45%	-15%	-8%	0%	$20,216,562.78
AC8	Auscann Grp Hlgs Ltd	0.04	-55%	-38%	-2%	0%	$17,621,884.40
DTZ	Dotz Nano Ltd	0.26	-38%	-24%	-10%	0%	$114,855,655.17
CAN	Cann Group Ltd	0.255	-11%	2%	-4%	-2%	$89,103,425.49
LGP	Little Green Pharma	0.255	-63%	-43%	-18%	-2%	$60,230,192.75
BOT	Botanix Pharma Ltd	0.063	-6%	-19%	-21%	-2%	$67,288,227.57
CGB	Cann Global Limited	0.021	-79%	-38%	-19%	-2%	$5,436,344.70
EPN	Epsilon Healthcare	0.022	-82%	-54%	-41%	-4%	$6,824,505.88
AGH	Althea Group	0.08	-67%	-54%	-20%	-5%	$25,057,332.92
NTI	Neurotech Intl	0.085	73%	37%	-19%	-6%	$60,834,425.71
WOA	Wide Open Agricultur	0.49	-34%	-22%	-17%	-6%	$62,980,568.77
RNO	Rhinomed Ltd	0.155	-55%	-13%	-14%	-6%	$44,286,552.57
EMD	Emyria Limited	0.23	5%	-33%	-4%	-6%	$61,875,555.53
WFL	Wellfully Limited	0.029	-81%	-41%	-15%	-6%	$8,082,219.67
MDC	Medlab Clinical Ltd	11.04	-54%	-18%	-15%	-8%	$25,164,192.04
ZLD	Zelira Therapeutics	1.3	-80%	-66%	-24%	-10%	$12,450,250.80
IHL	Incannex Healthcare	0.27	-25%	-54%	10%	-11%	$380,898,423.75
MXC	Mgc Pharmaceuticals	0.015	-74%	-44%	-17%	-12%	$42,759,709.82
LV1	Live Verdure Ltd	0.22	-44%	-33%	2%	-12%	$12,737,484.98
CPH	Creso Pharma Ltd	0.03	-73%	-50%	-19%	-14%	$51,785,507.52
IDT	IDT Australia Ltd	0.091	-87%	-53%	-27%	-17%	$21,691,961.73
EVE	EVE Health Group Ltd	0.001	-66%	-40%	0%	-33%	$5,274,482.66
PAL	Palla Pharma Ltd	0	-100%	-100%	-100%	-100%	$47,764,383.09

Only 9 companies were in the green, with 8 companies flat and 20 stocks in the red.

Here are the ones with notable news:

CRONOS (ASX:CAU)

The staged roll out of the company’s Canview 2.0 platform is continuing with Stage One (fulfilment upgrades), Stage Two (upgraded pharmacy ordering platform) and Stage Three (Prescriber and Patient mobile app pilot program) now completed.

The rollout phase will kick off in early October and the company’s team has recently begun recruiting medical practitioners onto the platform with the aim of leveraging their existing relationships by meeting with clinical groups “as well as individual doctors to offer CanView as the ‘all in one’ education, prescribing and compliance tool for use in clinical settings.”

There are currently nearly 800 doctors registered on the CanView platform which represents less than 3% of all GPs in Australia.

Cronos says the remaining 97% of GPs not currently registered on CanView represent “an exciting opportunity” to increase the number of doctors using the platform in the near term.

AVECHO BIOTECHNOLOGY (ASX:AVE)

AVE says interim results from studies conducted in the UK showed that its oral cannabidiol (CBD) product under development has increased bioavailability in a canine compared to Epidiolex, the only FDA approved CBD product in the market.

“These formulations are now in clinical trials and will be entering Phase III clinical trials for an insomnia related indication,” said CEO Dr Paul Gavin.

The tests were administered to fasted dogs via oral gavage which is kinda gross, so maybe it could be worth putting into biscuit form – just a thought.

EMYRIA (ASX:EMD)

The company has now expanded to an additional 8 clinical trial sites across Australia to support the Phase 3 trial for its cannabinoid treatment EMD-RX5.

“We have had exceptional demand to participate in our Phase 3 program from clinical sites across Australia,” MD Dr Michael Winlo said.

“We take this as a strong sign that there is high clinical interest in our unique Ultra-Pure CBD capsule and strong patient need for new treatment options for our target indication – the symptoms of psychological distress.

Results from the Phase 3 trial are expected to support an initial registration of EMD-RX5 as a Schedule 3, over-the-counter treatment with Australia’s Therapeutic Goods Administration (TGA).

LITTLE GREEN PHARMA (ASX:LGP) & MGC PHARMA (ASX:MXC)

Both companies got slapped with infringement notices from the Therapeutic Goods Administration (TGA) concerning the alleged unlawful advertising of medicinal cannabis products via their websites and social media channels.

LGP said it believes the infringement notices were issued as part of a wider compliance campaign by the TGA focusing on medicinal cannabis companies in Australia.

“LGP expects the infringement notices issued by the TGA will lead to greater compliance throughout the medicinal cannabis industry in Australia with the TGA requirement that unregistered medicines be advertised exclusively to health professionals as long as those advertisements are not accessible to the public,” it said.