Weed Week: Cannabis lounges in Las Vegas and Cann’s Mildura cannabis facility gets GMP licence

  • Retail and independent cannabis lounges could be opening soon in Vegas
  • Cann Group gets good manufacturing practice (GMP) licence for its Mildura facility
  • Bod plans to launch a low dose CBD schedule 3 product into the Australian market

 

Vegas already has a dizzying amount of entertainment options, and soon cannabis lounges could be one of them.

The Nevada Cannabis Compliance Board has approved regulations for the licensing and operation of cannabis lounges (like bars but with weed).

The decision comes after years of prohibition on using the substance outside a private residence.

Two types of lounge licences will be issued: retail, for lounges attached to a cannabis-retail store, and independent, for lounges that aren’t attached or next to any sales facilities.

Anyone can apply for a consumption lounge licence, but people won’t be able to hold both a retail and independent licence at the same time.

 

 

ASX WEED STOCKS

Code Company Price % Year % Six Month % Month % Week Market Cap
EPN Epsilon Healthcare 0.028 -78% -60% -15% 22% $7,210,620.24
NTI Neurotech Intl 0.07 21% 23% 21% 19% $48,838,938.82
CAN Cann Group Ltd 0.28 -21% -5% -7% 12% $80,309,217.53
CAU Cronos Australia 0.26 136% 21% 2% 4% $143,162,608.94
CTV Colortv Limited 0.006 -94% -88% -25% 0% $927,738.80
HGV Hygrovest Limited 0.064 -17% 5% 2% 0% $14,717,055.04
SCU Stemcell United Ltd 0.014 -7% 0% 0% 0% $14,696,980.89
ROO Roots Sustainable 0.003 -71% -50% -33% 0% $2,248,898.06
MRG Murray River Grp 0.245 58% 0% 0% 0% $10,808,210.04
TSN The Sust Nutri Grp 0.14 -61% -33% 0% 0% $16,884,893.90
RGI Roto-Gro Intl Ltd 0.011 -73% -45% 0% 0% $3,768,520.77
IRX Inhalerx Limited 0.075 -25% -17% -12% 0% $12,635,021.78
AVE Avecho Biotech Ltd 0.013 -19% -13% -24% 0% $23,891,562.84
PAL Palla Pharma Ltd 0.295 -20% 0% 0% 0% $47,764,383.09
EMD Emyria Limited 0.185 0% -49% -33% 0% $53,625,481.46
IDT IDT Australia Ltd 0.115 -65% -60% -21% 0% $25,307,288.69
EVE EVE Health Group Ltd 0.001 -76% -70% -20% 0% $5,050,482.66
CGB Cann Global Limited 0.019 -85% -75% -30% 0% $4,659,724.03
BOD BOD Australia 0.07 -80% -70% -53% -1% $7,407,674.40
WFL Wellfully Limited 0.053 6% -22% -9% -2% $14,610,252.42
ZLD Zelira Therapeutics 0.96 -88% -83% -21% -4% $9,289,802.52
ALA Arovella Therapeutic 0.022 -60% -44% -35% -4% $14,736,374.97
CPH Creso Pharma Ltd 0.036 -74% -56% -32% -5% $46,670,146.31
IHL Incannex Healthcare 0.2175 -7% -62% -48% -5% $269,290,145.88
LV1 Live Verdure Ltd 0.17 -11% -56% -21% -6% $6,519,970.38
MDC Medlab Clinical Ltd 0.049 -66% -66% -36% -6% $16,424,432.21
ECS ECS Botanics Holding 0.016 -57% -47% -27% -6% $15,494,229.34
MXC Mgc Pharmaceuticals 0.016 -57% -57% -20% -6% $46,380,995.48
BOT Botanix Pharma Ltd 0.056 -31% 0% -32% -7% $54,495,956.14
EXL Elixinol Wellness 0.02 -83% -74% -58% -9% $6,325,311.42
WOA Wide Open Agricultur 0.535 -36% -24% -20% -9% $70,505,475.15
DTZ Dotz Nano Ltd 0.285 -16% -34% -10% -10% $128,952,656.86
AC8 Auscann Grp Hlgs Ltd 0.037 -62% -55% -36% -10% $16,300,243.07
LGP Little Green Pharma 0.225 -74% -64% -42% -10% $56,462,691.19
RNO Rhinomed Ltd 0.115 -28% -62% -32% -12% $31,429,166.34
AGH Althea Group 0.061 -80% -74% -49% -13% $19,592,302.50
EOF Ecofibre Limited 0.185 -74% -69% -50% -24% $68,051,208.81

Only four companies were in the green, with 14 companies flat and 19 stocks in the red.

 

Here are the ones with notable news:

CANN GROUP (ASX:CAN)

The company has been granted a GMP (good manufacturing practice) licence to manufacture therapeutic goods at its Mildura facility.

The Mildura GMP Licence will enable Cann to manufacture Active Pharmaceutical Ingredients (API) and hard capsules, and to conduct GMP-approved activities at the facility’s existing chemistry and microbiology laboratories.

It will also allow the production of capsules for Satipharm, the company acquired by Cann in 2021.

The licence also means that medicinal cannabis manufactured at Mildura can be made available to patients via the TGA’s approved access pathways in Australia, as well as for export markets.

“GMP licencing is the regulatory capstone of the Mildura facility, allowing us to cultivate, extract, manufacture, test, and supply finished products entirely in-house,” says Cann’s CEO, Peter Crock.

“With the licence in place, we can now add additional GMP capabilities in response to market demands.”

 

BOD AUSTRALIA (ASX:BOD)

Bod is planning to launch a low dose CBD schedule 3 product into the Australian market via the Therapeutic Goods Administration’s (TGA) Special Access Scheme Category B (SAS-B).

The product will come under the company’s existing medicinal cannabis brand as MediCabilis and sold as Bod Bio-Absorb 100 – a soft gel delivery product that’s currently being utilised in a Phase II clinical trial on symptoms associated with insomnia.

Launch is expected to occur in July, and on successful completion of the Phase II trial – and other required regulatory approvals – the product will be sold over-the-counter through pharmacists.

“Importantly, the introduction of the product through prescription channels will also provide us with valuable feedback as we continue our clinical trial and endeavour to launch Bod Bio-Absorb 100 through the Australian pharmacy market in the coming months,” CEO Jo Patterson said.

 

ZELIRA THERAPEUTICS (ASX:ZLD)

Back in February, the company announced plans to acquire 100% of the interests in Health House International – an international distributor of medicinal cannabis which holds an EU GMP licence and also has supply agreements in place with several pharmaceutical grade Good Manufacturing Practice (GMP) certified manufacturers.

But the proposed acquisition has been mutually terminated “given the substantial change in market conditions since the Scheme was originally announced,” Zelira says.

Health House will make an immediate payment of $50,000 to Zelira and is required to repay to Zelira the $1.5 million working capital facility loan, plus interest.

Ouch.

 

CRESO PHARMA (ASX:CPH)

Creso Pharma’s wholly-owned Canadian subsidiary, Mernova Medicinal, has secured its maiden vaporiser order from the Weed Pool Cannabis Cooperative, valued at C$11,088 ($12,283), for 40 cases of 1g Lemon Haze vaporisers.

The Ritual Gold range utilises Mernova’s top-quality, indoor grown, hand trimmed, hang dried, cured, artisanal, high-THC, craft cannabis flower, and the new 1g products use cannabis trim and other biomass, which is not optimal for retail sale.

This can potentially increase Mernova’s revenue from unused inventory, while saving on wastage.

Plus, the company says the sale provides an entry point into the rapidly growing cannabis vaporiser market – which is expected to grow to US$15.77Bn by 2028.

 

MEDLAB CLINICAL (ASX:MDC)

Researchers from the School of Pharmacy and Medical Sciences at University of South Australia have independently confirmed that the company’s NanaBis drug has two times more bioavailability than an Australian Register of Therapeutic Goods (ART) approved oral cannabis (CBD and THC) medicine.

Bioavailability is the proportion of a drug or other substance which enters the circulation when introduced into the body so as to have an active effect.

NanaBis has already met both primary and secondary endpoints in the advanced cancer pain trial at Royal North Shore Hospital and has now received Australian and UK ethics approvals for Phase 3 trials.

 

CAN, BOD, ZLD, CPH and MDC share prices today:

 

 

At Stockhead we tell it like it is. While Medlab Clinical is a Stockhead advertiser, it did not sponsor this article.

 

You might be interested in



Source link

Leave a Reply

Your email address will not be published.