One of the most talked about areas of the market at the moment is the fledgling medicinal cannabis industry. But with so many pot stocks now listed on the Australian share market, it can be hard to keep tabs on them all.
So to help you keep up to date, here's a breakdown of the recent goings on in the industry:
Auscann Group Holdings Ltd (ASX: AC8)
The AusCann share price has rallied 94% higher since the end of October after positive developments both at home and in Canada. In October the government loosened regulations, meaning doctors may prescribe medicinal cannabis to terminally ill patients without waiting for approval from the TGA. On top of this, alcoholic beverage giant Constellation Brands has agreed to buy a 9.9% stake in Canadian pot stock giant Canopy Growth Corp for C$245 million. Canopy Growth Corp is a strategic partner and major shareholder of AusCann.
Botanix Pharmaceuticals Ltd (ASX: BOT)
The Botanix share price has gone sideways over the last three months as investors wait patiently for the results of two studies the company has undertaken. At the end of last month Botanix received approval to commence its BTX 1204 atopic dermatitis patient study. The company was able to accelerate BTX 1204 into the clinic due to the successful Phase 1 study for its acne product BTX 1503.
Cann Group Ltd (ASX: CAN)
The Cann Group share price has rocketed 150% over the last three months due largely to the aforementioned positive developments and the granting of a cannabis import/export licence. Many in the market appear to believe that Cann Group is the best-positioned medicinal cannabis company to succeed in the long-term.
CannPal Animal Therapeutics Limited (ASX: CP1)
After a slow start to life on the ASX, this medicinal cannabis company's shares have found their feet and are now 10% higher than their IPO price. The leader in cannabinoid derived animal therapeutics is developing medicines to provide veterinarians with clinically validated and standardized therapeutics to treat companion animals in a safe and ethical way.
Creso Pharma Ltd (ASX: CPH)
The Creso Pharma share price has jumped 50% in the last three months. Investors appear to be betting that Creso's animal health products and its exposure to Canada's recreational cannabis market could provide it with meaningful revenues sooner than first expected.
Hydroponics Company Ltd (ASX: THC)
The Hydroponics Company share price has gained almost 200% in the last three months thanks largely to a 75% gain on Wednesday. The catalyst for this was news that its wholly-owned medicinal cannabis subsidiary Canndeo has signed a distribution agreement with Endoca B.V. to distribute medicinal cannabis products into Australia.
MGC Pharmaceuticals Ltd (ASX: MXC)
The MGC Pharmaceuticals share price has risen 57% over the last three months thanks to a major supply agreement with South Korean cosmetic company Varm Cosmo. MGC will provide white-label cannabidiol cosmetic products that will be sold as part of the Varm Cosmo range. The total supply agreement is expected to be worth $40 million.
