Victoria set to launch a medical cannabis driving trial for patients . Picture Getty
Health & Biotech
Scientists in Brazil said they’ve discovered cannabidiol (CBD) in the fruits and flowers of the Jamaican nettletree (Trema micranthum), a shrub native to tropical and subtropical regions of North and South America.
The nettletree grows up to 10 metres tall with egg-shaped leaves of up to 9cm long, and are usually covered with white, woolly pubescence underneath.
Flowers are greenish-white, while the tree’s fruits are yellow to bright reddish-range, up to 4mm in diameter.
Unlike the common Cannabis sativa plant (marijuana) however, scientists say the Jamaican nettletree doesn’t contain THC (the substance that causes the high in people).
Why is that important?
Because it could be an attractive new source of CBD that comes without the legal barriers associated with growing cannabis.
“It was wonderful to find a plant (with CBD but) without THC, because you avoid all the mess around psychotropic psychoactive substances,” molecular biologist, Rodrigo Moura Neto, told the AFP.
“It would be an easier and cheaper source of cannabidiol,” he added.
Research on this plant is still ongoing.
Back home meanwhile, Victoria is set to launch a medical cannabis driving trial for patients undergoing a treatment.
The VIC State Parliament has introduced a Bill to assess the effects of consumption of medical cannabis on driving behaviour.
Under the Bill, medicinal cannabis users can get behind the wheel on closed roads – defined as a “closed circuit in a controlled driving environment” – to see what impact the drug has on their driving ability.
“A medicinal cannabis patient should be treated like any other patient who is prescribed medicine by a doctor who also provides appropriate advice about when that patient is safe to drive,” said MP Rachel Payne.
Here’s how the ASX weed stocks have performed, sorted by winners over the past week.
| Code | Company | Price | 1-week return % | 1-mth return % | 6-mth return % | 1-year return % | Market cap |
|---|---|---|---|---|---|---|---|
| EXL | Elixinol Wellness | 0.011 | 37.50 | 69.23 | -38.89 | -63.33 | $6,944,782 |
| IDT | IDT Australia Ltd | 0.078 | 30.00 | 25.81 | -8.24 | -22.00 | $28,118,358 |
| EMD | Emyria Limited | 0.083 | 18.57 | 18.57 | -44.25 | -58.19 | $30,194,869 |
| IHL | Incannex Healthcare | 0.068 | 13.33 | 7.94 | -40.87 | -70.43 | $107,916,804 |
| VIT | Vitura Health Ltd | 0.370 | 12.12 | 7.25 | 7.25 | -57.23 | $201,555,826 |
| ZLD | Zelira Therapeutics | 1.025 | 11.41 | 4.59 | 10.22 | -10.09 | $11,176,948 |
| LV1 | Live Verdure Ltd | 0.400 | 9.59 | 0.00 | 175.86 | 166.67 | $43,742,032 |
| CAN | Cann Group Ltd | 0.120 | 4.35 | 0.00 | -24.40 | -48.52 | $51,120,490 |
| ALA | Arovella Therapeutic | 0.092 | 3.37 | 17.95 | 24.32 | 253.85 | $82,569,901 |
| AGH | Althea Group | 0.042 | 0.00 | 35.48 | -19.23 | -38.24 | $16,633,846 |
| AC8 | Auscann Grp Hlgs Ltd | 0.040 | 0.00 | 0.00 | 0.00 | 0.00 | $17,621,884 |
| CGB | Cann Global Limited | 0.021 | 0.00 | 0.00 | 0.00 | 0.00 | $5,614,845 |
| EVE | EVE Health Group Ltd | 0.001 | 0.00 | 0.00 | 0.00 | 0.00 | $5,274,483 |
| MDC | Medlab Clinical Ltd | 6.600 | 0.00 | 0.00 | 0.00 | -30.89 | $15,071,113 |
| RGI | Roto-Gro Intl Ltd | 0.220 | 0.00 | 0.00 | 0.00 | 0.00 | $4,333,920 |
| WNX | Wellnex Life Ltd | 0.052 | 0.00 | 0.00 | -16.54 | -31.17 | $25,534,129 |
| ECS | ECS Botanics Holding | 0.023 | 0.00 | -4.17 | 35.29 | -4.17 | $25,454,805 |
| NTI | Neurotech Intl | 0.058 | 0.00 | -6.45 | 13.73 | -37.63 | $51,173,950 |
| BOT | Botanix Pharma Ltd | 0.140 | 0.00 | -6.67 | 66.67 | 125.81 | $201,221,788 |
| AVE | Avecho Biotech Ltd | 0.004 | 0.00 | -11.11 | -20.00 | -55.56 | $10,793,168 |
| ME1 | Melodiol Glb Health | 0.003 | 0.00 | -40.00 | -72.73 | -89.29 | $11,502,311 |
| WOA | Wide Open Agricultur | 0.175 | 0.00 | -46.15 | -46.15 | -27.08 | $30,281,915 |
| BP8 | Bph Global Ltd | 0.001 | 0.00 | -50.00 | -75.00 | -92.41 | $1,615,563 |
| RNO | Rhinomed Ltd | 0.029 | -3.33 | -29.27 | -63.75 | -73.64 | $8,285,871 |
| LGP | Little Green Pharma | 0.145 | -6.45 | -12.12 | -17.14 | -23.68 | $45,013,985 |
| EOF | Ecofibre Limited | 0.145 | -6.45 | -17.14 | -19.44 | -34.09 | $56,731,085 |
| IRX | Inhalerx Limited | 0.039 | -7.14 | -9.30 | -13.33 | -40.00 | $7,400,911 |
| DTZ | Dotz Nano Ltd | 0.165 | -10.81 | -5.71 | -31.25 | -41.07 | $84,241,005 |
| HGV | Hygrovest Limited | 0.051 | -12.07 | -3.77 | -12.07 | -26.09 | $10,725,841 |
| EPN | Epsilon Healthcare | 0.026 | -13.33 | -13.33 | 52.94 | -18.75 | $7,809,204 |
| ROO | Roots Sustainable | 0.004 | -20.00 | -20.00 | -33.33 | -86.67 | $613,250 |
| WFL | Wellfully Limited | 0.003 | -25.00 | -25.00 | -66.67 | -86.36 | $1,478,832 |
| BOD | BOD Science Ltd | 0.035 | -37.50 | -49.28 | -36.36 | -63.16 | $9,930,956 |
| MXC | Mgc Pharmaceuticals | 0.480 | -52.00 | -76.00 | -94.67 | -96.44 | $2,104,483 |
IDT rose after saying it is well placed to benefit from the rapid growth in the medicinal cannabis and psychedelic markets, given that IDT is one of the select few facilities that comply with the recently introduced GMP regulations.
During the last quarter, IDT’s potential sales pipeline also continued to grow, with the company generating 75 potential sales leads and signing confidentiality agreements with 15 potential clients.
In the quarter, the company also submitted proposals worth an additional $11.3 million, and secured sales contracts worth $1.2 million.
MDMA specialist Emyria has secured an ethics endorsement for MDMA from its Authorised Prescriber (AP) application.
The National Health and Medical Research Council (NHMRC) ethics committee has endorsed Emyria in support of its AP applications for the lead psychiatrists of its future MDMA-assisted therapy program.
The approval is the first stage of a two-step evaluation, where final approval is still required from Australia’s Therapeutic Goods Administration (TGA) which is still in progress.
If secured, the approval may allow Emyria to become one of the first Australian companies to offer broader options for PTSD patients who have exhausted standard care options.
Vitura provided an update on its Cortexa Joint Venture with PharmAla Biotech on Tuesday.
For what will be an Australian first, Vitura said it has landed MDMA bulk GMP Active Pharmaceutical Ingredient (API) into Australia, which is being prepared to be batch manufactured into finished dosage forms to GMP standards.
In doing so, Cortexa will ensure reliable local supply to meet growing clinical and research demands.
Concurrently, the first GMP MDMA capsules have been imported from Cortexa’s joint venture partner, PharmAla Biotech, and are ready for patient prescriptions and clinical trials.
The majority of this shipment is to satisfy demand under existing supply agreements including leading University clinical trials.
Psilocybin bulk GMP API is also in the process of being transported to Australia, and like MDMA, there has been significant interest in the clinical and research prescription of psilocybin.
During the last quarter to September, Cann’s unaudited year to date sales revenue was $4.03m, representing two times the sales revenue of the pcp.
Cash receipts from operating activities was $4.54m during the quarter, up 87% on the pcp.
In July 2023, Cann said its harvest of crops, which are being continuously planted at a scale twice that of previous crops, commenced. Crop area harvested from mid-July equates to an annualised production level of eight tonnes.
Health & Biotech
Health & Biotech
Health & Biotech
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