On the local regulatory front, industry players are awaiting a September update from the Therapeutic Goods Administration (TGA) on whether it will allow cannabidiol-only (CBD) products to be sold over the counter in pharmacies.

So with that in mind, we’ve turned to the US market for a regulatory update, where the (TGA equivalent) Food & Drug Administration released preliminary guidance on the clinical trial process for cannabis treatments.

The 2018 Farm Bill legalised hemp at a federal level, as long as it contained less than 0.3 per cent THC. But it stopped short of full legalisation for THC and CBD cannabis products, and shifted oversight from the Drug Enforcement Agency to the FDA.

Because the FDA has classified CBD as a drug, it doesn’t allow companies to advertise its benefits in over-the-counter products.

An FDA spokesperson told MarketWatch there were still questions around the “science, safety, effectiveness” of CBD products. The agency also released a report to US Congress which said many CBD products didn’t contain the amount claimed on the label (or in some cases not at all).

For now, the FDA is still laying out the development framework for how US companies can bring CBD products to market, which at this stage still requires a clinical trial process to ensure consistency.

Like the TGA’s pending decision on over-the-counter sales, the FDA is taking comments from industry players as it works towards a standardised framework for bringing products to market.

Back on the local market, the cohort of ASX-listed cannabis (and cannabis adjacent) stocks tracked by Stockhead had a relatively strong fortnight as global stocks remained buoyant.

Of the 34 companies tracked by Stockhead, 18 posted a gain over the last two weeks while 15 finished in the red (with one trading flat).

Below is a summary of fortnightly and annual price performance for ASX-listed cannabis stocks:

Scroll or swipe to reveal table. Click headings to sort.

Code Name Price ($) 2W Tot Ret 1Y Tot Ret Market Cap
YPB YPB GROUP LTD 0.007 133.3% 0.0% $13.3M
DTZ DOTZ NANO LTD 0.16 66.7% 102.5% $50.3M
ECS ECS BOTANICS HOLDINGS LTD 0.025 31.6% -75.0% $12.7M
PAL PALLA PHARMA LTD 1 29.9% -7.1% $125.9M
EN1 ENGAGE:BDR LTD 0.0075 25.0% -80.8% $8.5M
IHL INCANNEX HEALTHCARE LTD 0.07 20.7% 18.6% $52.9M
ROO ROOTS SUSTAINABLE AGRICU-CDI 0.02 17.6% -69.2% $3.2M
BOT BOTANIX PHARMACEUTICALS LTD 0.049 11.4% -80.0% $47.7M
MMJ MMJ GROUP HOLDINGS LTD 0.1075 9.7% -62.3% $24.7M
MXC MGC PHARMACEUTICALS LTD 0.024 9.1% -53.8% $38.0M
APH AUSTRALIAN PRIMARY HEMP LTD 0.135 8.0% -38.6% $9.4M
SCU STEMCELL UNITED LTD 0.015 7.1% NA $9.6M
MRG MURRAY RIVER ORGANICS GROUP 0.015 7.1% -64.7% $33.1M
EOF ECOFIBRE LTD 2.59 5.7% -13.7% $833.0M
RGI ROTO-GRO INTERNATIONAL LTD 0.046 4.5% -73.7% $6.8M
AGH ALTHEA GROUP HOLDINGS LTD 0.36 4.3% -69.9% $84.0M
RNO RHINOMED LTD 0.08 3.9% -75.4% $20.3M
CPH CRESO PHARMA LTD 0.031 0.0% -92.6% $11.2M
THC THC GLOBAL GROUP LTD 0.285 -1.7% -50.9% $49.3M
BDA BOD AUSTRALIA LTD 0.27 -1.8% -47.1% $24.7M
CAU CRONOS AUSTRALIA LTD 0.079 -2.5% -82.0% $10.2M
AC8 AUSCANN GROUP HOLDINGS LTD 0.145 -3.3% -64.2% $46.0M
MDC MEDLAB CLINICAL LTD 0.145 -3.3% -66.7% $40.6M
EXL ELIXINOL GLOBAL LTD 0.17 -5.6% -94.9% $32.8M
EVE EVE INVESTMENTS LTD 0.006 -7.7% 20.0% $22.4M
ZLD ZELIRA THERAPEUTICS LTD 0.053 -8.6% -19.7% $51.5M
IDT IDT AUSTRALIA LTD 0.15 -9.1% -6.3% $35.9M
WOA WIDE OPEN AGRICULTURE LTD 0.39 -9.3% 188.9% $32.1M
CP1 CANNPAL ANIMAL THERAPEUTICS 0.135 -10.0% -25.0% $12.6M
LSH LIFESPOT HEALTH LTD 0.04 -14.9% -42.9% $3.9M
SUD SUDA PHARMACEUTICALS LTD 0.028 -17.6% -55.9% $4.4M
ESE ESENSE-LAB LTD-CDI 0.018 -25.0% -25.0% $9.2M
CAN CANN GROUP LTD 0.66 -26.7% -68.6% $94.3M
LGP LITTLE GREEN PHARMA 0.375 5.6% NA $25.5M

Cannabis-adjacent stock YPB Group (ASX:YPB) topped the list after ripping higher on Tuesday, before going into a trading halt at the behest of the ASX.

The company provides product-tracing technology for clients across a range of industries including Toronto-based cannabis ecommerce company Namaste.

YPB, which has a market cap of around $13m, responded by saying it wasn’t aware of any catalysts that prompted its share price to jump from 0.4c to 0.7c.

That was followed by a chairman’s address yesterday, which highlighted a difficult 18-month restructure including the “unavoidable necessity to issue new equity at low prices” to avoid collapse.

With a revamped cost base, the company said it’s now implementing a revamped sales strategy with a “tighter industry focus” including wine, dairy, natural wellness and legal cannabis, targeting markets in Australia and China.