• Researchers say data shows transition from illicit to legal use of cannabis
  • Medicinal users are at 37%, compared to 2.5% in 2018
  • Regulations, quality control and costs still barriers for legal week users

 

New research from the University of Sydney’s Lambert Initiative has found that while most Australians are still medicating with illicit cannabis, the number of people accessing prescription products have risen dramatically.

Around 37% of respondents reported prescription use – compared to the last survey in 2018 at 2.5%.

And those who only used prescription cannabis tended to be older, female, and less likely to be employed.

“The data suggests we have seen a transition from illicit to legal use of medical cannabis,” Faculty of Medicine and Health lead researcher Professor Nicholas Lintzeris said.

“A number of benefits were identified in moving to prescribed products, particularly where consumers reported safer ways of using medical cannabis. 

“People using illicit cannabis were more likely to smoke their cannabis, compared to people using prescribed products who were more likely to use oral products or vaporised cannabis, highlighting a health benefit of using prescribed products,” he added.

Here’s how people are using medicinal cannabis:

 

Still a few barriers to accessibility 

Despite the large increase in patients receiving prescribed products in the last two years, only 24 per cent of prescribed patients agreed that the current model for accessing medicinal cannabis was easy or straightforward.

“There should be further efforts to transition patients from illicit to regulated, quality-controlled, cannabis products,” Lambert Initiative for Cannabinoid Therapeutics Academic Director Professor Iain McGregor says.

A barrier identified by most respondents was the cost of accessing medicinal cannabis, with an average cost of $79 per week.

People using illicit medical cannabis also cited an inability to find medical practitioners who are willing to prescribe.

 

ASX WEED STOCKS

Code Company Price % Year % Six Month % Month % Week Market Cap
LV1 Live Verdure Ltd 0.2 -35% -37% 25% 33% $8,202,543.38
ROO Roots Sustainable 0.004 -56% -20% 33% 14% $2,998,530.75
CAU Cronos Australia 0.35 218% 6% 59% 8% $187,850,650.76
DTZ Dotz Nano Ltd 0.29 -18% -17% -2% 5% $131,249,728.53
ECS ECS Botanics Holding 0.029 -12% 12% 12% 4% $32,095,189.34
RNO Rhinomed Ltd 0.18 -46% -26% 3% 3% $52,858,143.39
EXL Elixinol Wellness 0.038 -67% -24% -22% 3% $12,018,091.70
EMD Emyria Limited 0.26 37% 0% 18% 2% $74,250,666.63
MDC Medlab Clinical Ltd 13.12 -50% -27% 3% 1% $31,969,028.00
CTV Colortv Limited 0.008 -92% -68% 14% 0% $1,236,985.07
HGV Hygrovest Limited 0.066 -16% 32% 0% 0% $16,556,686.92
SCU Stemcell United Ltd 0.0132 0% 0% 0% 0% $14,915,371.55
MRG Murray River Grp 0.245 23% 0% 0% 0% $10,808,210.04
TSN The Sust Nutri Grp 0.14 -55% -7% 0% 0% $16,884,893.90
RGI Roto-Gro Intl Ltd 0.011 -67% 0% 0% 0% $3,768,520.77
ALA Arovella Therapeutic 0.025 -48% -36% -14% 0% $18,087,851.61
EVE EVE Health Group Ltd 0.001 -76% -60% -33% 0% $5,050,482.66
ZLD Zelira Therapeutics 1.7 -74% -60% -23% -3% $15,419,156.76
WOA Wide Open Agricultur 0.595 -24% -1% 8% -3% $77,592,322.67
IDT IDT Australia Ltd 0.135 -79% -29% -18% -4% $33,743,051.58
BOD BOD Australia 0.1 -64% -38% -5% -5% $10,370,744.16
EOF Ecofibre Limited 0.285 -54% -28% 0% -5% $101,204,361.82
CAN Cann Group Ltd 0.27 -7% 15% -11% -5% $94,344,803.46
CPH Creso Pharma Ltd 0.036 -71% -53% -27% -5% $51,407,746.31
MXC Mgc Pharmaceuticals 0.018 -55% -25% -14% -5% $50,951,651.78
EPN Epsilon Healthcare 0.036 -76% -31% -5% -5% $8,652,744.29
LGP Little Green Pharma 0.34 -51% -29% 6% -6% $79,385,384.43
BOT Botanix Pharma Ltd 0.079 7% 49% 10% -6% $77,359,437.34
AC8 Auscann Grp Hlgs Ltd 0.04 -58% -44% -18% -7% $17,621,884.40
AVE Avecho Biotech Ltd 0.013 -24% 0% -7% -7% $23,891,562.84
CGB Cann Global Limited 0.023 -82% -23% -12% -8% $5,954,091.81
NTI Neurotech Intl 0.1 104% 113% 33% -9% $69,769,912.60
AGH Althea Group 0.1 -65% -43% -29% -9% $31,161,042.23
WFL Wellfully Limited 0.034 -69% -36% -15% -15% $9,475,705.82
IHL Incannex Healthcare 0.25 -32% -51% 11% -24% $396,134,360.70
IRX Inhalerx Limited 0.056 -42% -26% -27% -28% $10,108,017.42
PAL Palla Pharma Ltd 0 -100% -100% -100% -100% $47,764,383.09
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Only nine companies were in the green, with eight companies flat and 20 stocks in the red. 

 

Here are the ones with notable news:

 

EMYRIA (ASX:EMD)

The company recently received an ethics approval for its pivotal EMD-RX5 Phase 3 trial, with patient recruitment now set to commence.

The Phase 3 clinical trial will study Emyria’s first Ultra-Pure CBD candidate, EMD-RX5.

Successful completion of the trial will support the registration of EMD-RX5 with the TGA as a Schedule 3, over-the-counter treatment for the symptoms of psychological distress.

The study’s primary endpoints are changes in validated psychological distress symptom scores, while secondary endpoints include validated measures of sleep, pain and other quality of life scores.

Clinical sites will be opened and managed across Australia by Clinitrials.

“We believe a successfully registered OTC medicine in this category represents a large opportunity for Emyria to address a major unmet health need,” said Emyria CEO, Dr Michael Winlo.

Emyria is on a high following the recent $5m investment from Andrew Forrest’ Tattarang fund. 

 

BOD AUSTRALIA (ASX:BOD)

Certification has been awarded by the US Hemp Authority for the company’s exclusive CBD extract and related products under its CBll, H&H CBD brands sold in the US.

Getting this approval has taken the company over 12 months which included a stringent verification process.

Verifications were made against BOD’s CBD extract, lab testing of Bod’s products for multiple contaminants, THC limits, as well as ensuring the company’s operations do not utilise synthetic cannabinoids.

These tests were undertaken by a third-party to ensure independence.

The US Hemp Authority is an independent self-regulatory organisation focused on ensuring the US industry maintains the highest standards and best practices.

 

MGC PHARMACEUTICALS (ASX:MXC)

Swinburne University of Technology’s clinical study into the effect of the company’s epilepsy treatment, CannEpil, on driving performance, has been completed – and found it to be safe for post-treatment driving activities. 

The company also received a new ~US$1,000,000 order for its anti-inflammatory product, ArtemiC, under an updated US Supply and Distribution Agreement signed with AMC Holdings, Inc. (AMC). 

MGC Pharma and AMC are also currently advancing work on the potential opportunity, and regulatory approvals, to bring its phyto-cannabinoid medicines, CogniCann and CannEpil into the USA under existing early patient access schemes. Plus, the company recently drew down a new financing tranche of US$750,000 under the US$10 million Financing Facility with Mercer Street Global Opportunity Fund to pay the final construction and equipment fitout costs of MGC’s new Malta Good Manufacturing Process (GMP) manufacturing and production hub. 

 

 EMD, BOD and MXC share prices today:

 

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