Althea

josh fegan
Althea CEO Josh Fegan

Althea has achieved its best-ever quarter with record sales of A$1.55 million in June and unaudited revenue of almost $3.36 million, a 111% increase from the previous corresponding period.

Unaudited revenue for FY2021 was $11.55 million, up 128% on FY2020, with Australian operations contributing $8.5 million at a 52% gross margin.

CEO Josh Fegan said the company now has more than over 19,250 patients worldwide using Althea medicines.

Lifespot Health

In the quarter to June 30, Lifespot Health achieved breakthrough first sales of its CBD e-liquid using the Medihale Inhaler system in Australia by EC Pharma.

Initial reports from patients and prescribers have been positive, which Lifespot is closely monitoring in preparation for the scale up to GMP contract manufacturing.

In partnership with EC Pharma, Lifespot will prioritise the FDA regulatory pathway to accelerate the approvals process and provide earlier access to the US market and allow for mutually recognised regulatory pathways in the EU, Canada and Australia in future.

Emyria

Emyria managing director Dr Michael Winlo

Emyria has made progress on the registration of EMD-003, the company’s first cannabinoid-based Schedule 3 product candidate aimed at reducing the symptoms of anxiety, depression and stress.

In the quarter to June 30, the company also validated proprietary clinical data of its real-world evidence study with IQVIA, advanced its MDMA-assisted therapy trial for PTSD by announcing a principal investigator, and registered smartphone application, Openly, as a Class IIA medical device.

MGC Pharma

MGC Pharma has announced record sales in the June quarter thanks to higher sales of its phytocannabinoid products.

The company reported revenue of A$945,000, a 34% increase on the previous quarter, with $665,000 from its phytocannabinoid medicines and $280,000 from its ArtemiC Rescue medical spray.

It also received a second wholesale purchase order from European nutraceuticals group Swiss PharmaCan equating to a total of $1m in revenue upon full delivery of the product, expected during the September quarter.

Incannex

Incannex Healthcare has filed an International Patent Application for the treatment of obstructive sleep apnoea as part of its IHL-42X development program.

The move means the company can pursue patent protection in key markets including North America, the European Union, Japan and Australia.

Incannex has also received ethics approval for its IHL-42X open label extension study, enabling the company to recruit people who have experienced a benefit from IHL-42X in the phase 2b trial.

Meanwhile, the company has started a phase 1 clinical trial testing a soft gel capsule formulation of its CBD/hydroxychloroquine drug cocktail IHL-675A in healthy volunteers.

The study will be conducted at South Australia’s CMAX Clinical Research by contract research organisation Avance Clinical.

Pre-clinical studies suggest IHL-675A has the potential to be a multi-use drug candidate for the prevention and treatment of inflammatory lung conditions, rheumatoid arthritis and inflammatory bowel disease.

RotoGro

ASX-listed RotoGro has received a C$213,000 non-refundable deposit from Wolf Island Cannabis for its patented and proprietary cannabis cultivation technology.

RotoGro will provide onsite assembly, installation, testing, commissioning, training, and IP support as part of the deal.

Wolf Island is constructing a state-of-the-art facility in Ontario, Canada.

Clever Leaves

Multinational operator Clever Leaves and specialist pharmaceutical firm Biopharmaceutical Research Company have announced a joint partnership to study the DNA sequence variation of three Clever Leaves cannabis cultivars as part of the Project Change Lives campaign.

Project Change Lives is a US-based initiative, sponsored by Clever Leaves, whereby the company has pledged to contribute up to US$25 million worth of medicinal cannabis product to help advance scientific research into the medical benefits of cannabinoids.