• Jamaican nettletree is said to contain traces of cannabidiol (CBD)
  • Victoria set to launch a medical cannabis driving trial for patients 
  • How ASX weed stocks have performed over the past week and month


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).


Trema micrantha. Source: Flickr.


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.


Victoria allows cannabis patients to drive

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.


To ASX Weed Stocks …

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
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IDT Australia (ASX:IDT)

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.


Emyria (ASX:EMD)

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 Health (ASX:VIT)

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.


Cann Group (ASX:CAN)

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.