The company says the market for CBG is in its early stages and is expected to grow significantly over the coming years.
Bod Australia (BDA) is set to launch its new medicinal cannabis product, MediCabilis.
The new cannabigerol (CBG) product will be sold under the MediCabilis brand as “MediCabilis CBG 50” in the U.K. CBG is a non-intoxicating cannabinoid compound in the cannabis plant, which research has shown can address alternative therapeutic areas to THC and CBD.
The launch follows research and development assessments, as part of the company’s approach to developing specific cannabis cultivators and product formats for current and future product development.
This announcement comes after a strong quarter on MediCabilis prescription growth in the U.K. During Q3 FY2021 the company filled 59 MediCabilis units, marking a 90 per cent increase on the previous quarter.
“The Company has a number of new products in the pipeline that will be launched imminently. We anticipate that the introduction of new products and scale up of operations across both business divisions will unlock considerable value for shareholders.”
BDA has a strong cash balance of over $9.2M (at March 31st 2021) and in the march quarter spent $1.3M, less than the $1.87M in revenue it brought in, so the company looks well-funded for the coming months at current rates of revenue and spending.
“The Company continues to maintain a solid segment of the total Australian market through Special Access Scheme Category B. It is worth noting, that of the total Special Access Scheme approvals, not all result in a prescriptions being filled. Therefore, Bod’s total market share may be potentially higher,” Patterson said.
Read: Bod Australia outlines strong revenue growth
Seeking 1,000% plus returns across medium to long-term holds.
64% of prescriptions dispensed during April 2021 were repeat prescriptions.
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BDA attributes its current growth to its Australia wide clinical study to test the efficacy of MediCabilis TM when prescribed for conditions including anxiety, insomnia, and Post Traumatic Stress Disorder (PTSD).
Patients 18 and older, that have not been prescribed cannabis before and are approved for prescription of a Bod Medicabilis products through CA Clinics doctors will be eligible to enrol in the study.
Patients 18 and older that are approved for prescription of a Bod Medicabilis products through CA Clinics doctors will be eligible to enrol in the study.
As a study participant you will be asked to complete online surveys throughout your treatment whilst you continue to visit your prescribing doctor that will manage your care. The first two bottles of study medication will be provided free* and reduced pricing will then be available for the remainder of the study duration.
Medicinal Cannabis Therapy
For more information please see the detailed Participant Information and Consent Form.
The results of this study will help inform future research and development efforts including future clinical trials, as well as prescribing guidance for medicinal cannabis medicines.
*Patients will still be required to pay pharmacy dispensing fees and any applicable postage costs. Normal clinical consultation fees apply.
CA Clinics is happy to announce they are participating in the BodOLOS study with Bod Australia, a recognised leader in the Australian medicinal cannabis sector. This observational study is focused on monitoring patients treatment journey whilst being prescribed one of Bod’s cannabidiol products for treatment of their medical condition.