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Weed Week: Scientists just discovered a strain of cannabis 30x stronger than THC
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This week’s notable news story in the world of cannabis comes courtesy of the Nature, the 150 year-old scientific journal.
And for those with a higher tolerance to THC (tetrahydrocannabinol — the pscyhoactive component of cannabis), it could pack a punch.
In a recent report, scientists in Italy highlighted the discovery of a new compound they called 9-THCP (tetrahydrocannabiphorol).
Testing on mice showed the chemical had the effect of slowing movements, increasing the tolerance for pain. It even sent the lab-mice into a trance-like state — all symptoms one might associate with a usual THC-high.
And there was evidence the test-subjects experienced a “decreased rectal temperature” which is…interesting.
The scientists then wagered an educated guess about how the 9-THCP strain might affect the average pot aficionado by testing how well it bound together with human cannabinoid receptors.
Initial results indicate the 9-THCP compound is 33 times more active than THC. However, the exact effect on humans hasn’t yet been confirmed.
To markets, and with quarterlies season in full swing local pot stocks struggled for traction as a spate of companies lodged their 4C filings for the December quarter. That followed on from a sea of red in the week prior, when only two companies gained ground.
Of the 32 companies tracked by Stockhead there were seven winners and 20 losers, with five stocks unchanged.
Below is a summary of weekly and annual price performance for ASX-listed cannabis stocks.
Scroll or swipe to reveal table. Click headings to sort.
| Ticker | Name | Price (I) | 1 Year % Return | 1 Week % Return | Market Cap |
|---|---|---|---|---|---|
| DTZ | DOTZ NANO LTD | 0.063 | -23.5% | 16.1% | $18.3M |
| SCU | STEMCELL UNITED LTD | 0.019 | -14.3% | 12.5% | $11.5M |
| AC8 | AUSCANN GROUP HOLDINGS LTD | 0.3 | -41.9% | 8.9% | $90.4M |
| BOT | BOTANIX PHARMACEUTICALS LTD | 0.093 | -3.1% | 4.4% | $84.6M |
| RGI | ROTO-GRO INTERNATIONAL LTD | 0.12 | -53.7% | 4.2% | $18.6M |
| MDC | MEDLAB CLINICAL LTD | 0.33 | -21.7% | 3.2% | $73.5M |
| EOF | ECOFIBRE LTD | 2.83 | 183.0% | 1.4% | $894.5M |
| YPB | YPB GROUP LTD | 0.004 | -77.8% | 0.0% | $5.1M |
| APH | AUSTRALIAN PRIMARY HEMP LTD | 0.155 | -22.5% | 0.0% | $11.1M |
| EN1 | ENGAGE:BDR LTD | 0.02 | -24.0% | 0.0% | $14.8M |
| BDA | BOD AUSTRALIA LTD | 0.27 | -44.3% | 0.0% | $24.2M |
| LSH | LIFESPOT HEALTH LTD | 0.034 | -59.0% | 0.0% | $2.6M |
| IHL | IMPRESSION HEALTHCARE LTD | 0.067 | 266.7% | -2.9% | $46.3M |
| IDT | IDT AUSTRALIA LTD | 0.15 | -9.1% | -3.2% | $34.4M |
| WOA | WIDE OPEN AGRICULTURE LTD | 0.12 | 14.3% | -4.0% | $8.5M |
| THC | THC GLOBAL GROUP LTD | 0.385 | -18.5% | -5.1% | $52.8M |
| RNO | RHINOMED LTD | 0.175 | -10.3% | -5.4% | $29.6M |
| AGH | ALTHEA GROUP HOLDINGS LTD | 0.42 | 21.4% | -5.6% | $101.5M |
| ECS | ECS BOTANICS HOLDINGS LTD | 0.046 | -54.0% | -6.1% | $24.4M |
| CP1 | CANNPAL ANIMAL THERAPEUTICS | 0.145 | 16.0% | -6.5% | $13.5M |
| CGB | CANN GLOBAL LTD | 0.015 | -50.0% | -11.7% | $31.9M |
| SUD | SUDA PHARMACEUTICALS LTD | 0.054 | -54.5% | -6.9% | $7.8M |
| ROO | ROOTS SUSTAINABLE AGRICULTURE-CDI | 0.038 | -56.7% | -7.1% | $4.9M |
| EVE | EVE INVESTMENTS LTD | 0.005 | 20.0% | -7.7% | $16.7M |
| ESE | ESENSE-LAB LTD-CDI | 0.011 | -59.3% | -8.3% | $2.1M |
| MXC | MGC PHARMACEUTICALS LTD | 0.032 | -20.0% | -8.6% | $43.9M |
| CPH | CRESO PHARMA LTD | 0.155 | -62.7% | -8.8% | $27.0M |
| ZLD | ZELIRA THERAPEUTICS LTD | 0.056 | 0.0% | -10.0% | $56.7M |
| MMJ | MMJ GROUP HOLDINGS LTD | 0.125 | -48.9% | -11.1% | $28.0M |
| PAL | PALLA PHARMA LTD | 0.78 | -26.2% | -15.1% | $116.5M |
| CAN | CANN GROUP LTD | 1.225 | -44.3% | -15.7% | $170.9M |
| CAU | CRONOS AUSTRALIA LTD | 0.185 | -63.0% | -15.9% | $23.2M |
| EXL | ELIXINOL GLOBAL LTD | 0.795 | -78.0% | -31.3% | $86.8M |
One company forced to face the 4C music was Elixinol Global (ASX:EXL), which manufactures CBD hemp oil for use in medical cannabis products.
The company reported a “disappointing” quarterly result, which saw revenues fall to $4.4m in the three months to December — a 44 per cent decline from Q3.
Elixinol said it had taken steps to significantly reduce its cash burn and simplify the business. That was followed by the announcement this week that it would sell its Hemp Foods Australia business for $500k.
The company also flagged the sale of its Nunyara landholding, after cancelling plans to apply for a medical cannabis cultivation licence. As part of that process, Elixinol said it would book an impairment charge of $4.8m in its 2019 financial statements.
ALSO READ: Elixinol Global kills medical pot, holds fire sale for Aussie hemp
