• The BOD Australia share price is up nearly 7%
• The company's announced a new trial on treatment for long term COVID-19
• It involves a medicinal cannabis product

The BOD Australia Ltd (ASX: BOD) share price is surging today amid news of a new COVID-19 clinical trial.

The company's shares are currently swapping hands at 23.5 cents, up 6.82%.

Let's take a look at what the company announced today?

Medicinal cannabis to treat COVID-19?

BOD investors are reacting to news of a clinical trial into the use of medicinal cannabis to treat long term COVID-19.

The company will work with Drug Science UK on the six-month trial featuring BOD's flagship product MediCabilis.

Symptoms of long term COVID-19 include chronic pain, anxiety, fatigue, and sleeping trouble. The trial will recruit 30 people suffering from the condition.

BOD is hopeful it will be able to commercialise its product in the UK and "other countries" if the trial is successful.

About 1.3 million people are estimated to have long-COVID-19 in the UK with 1 in 40 of these having symptoms lasting three months or more.

BOD said its MediCabilis product is already prescribed to treat people with long-COVID-19 symptoms including anxiety, sleep disorders, and chronic pain.

Management comment

Speaking on the news of the trial, CEO Jo Patterson said:

While there aren't any existing treatments for long-COVID, our medicinal cannabis products have been used to treat and alleviate a number of similar conditions.

We anticipate that this clinical trial will provide us with great insight into its potential to treat long-COVID and build on the body of evidence for the use of cannabis-based medicines, in place of other pharmaceuticals.

Share price snapshot

The BOD share price has crashed by 50% in the past year. Despite this, it is up 4% in the last month and nearly 7% in the past week.

In comparison, the S&P/ASX 200 Index (ASX: XJO) has returned more than 10% to investors in the past year.

The company commands a market capitalisation of about 24.9 million based on the current share price.

The post Why a COVID-19 trial is exciting BOD (ASX:BOD) investors today? appeared first on The Motley Fool Australia.

Healthcare shares are amongst the strongest performers leading the broad index's recovery today, with the S&P/ASX 200 Health Care index (XHJ) gaining 0.45% since the open.

These three ASX healthcare shares are standouts in today's session.

Bod Australia Ltd (ASX: BDA)

CBD and hemp manufacturer Bod Australia's share price has soared higher on Wednesday and landed almost 12% in the green.

Bod's shares are now changing hands at 29 cents apiece after the company announced a key clinical milestone earlier today.

Bod advised that it had entered into an agreement with "Australia's leading respiratory and sleep institute" for a "schedule 3 trial" of a new CBD product.

The study will examine the efficacy of Bod's "unique CBD formulation" over a 12 week period, at the Woodlock Institute of Medical Research.

According to Bod, this "unlocks a large opportunity", as the "schedule 3 market (is) valued at $250 million", and the "unregulated market" could be worth around $3.5 billion.

Bod will also "leverage established relationships" with key partners following "product registration with the Therapeutic Goods Association (TGA)".

Clinuvel Pharmaceuticals Limited (ASX: CUV)

Global biopharmaceuticals company Clinuvel's share price has gained 5% today, despite no market sensitive news for the company.

However, Clinuve's share price jumped after the company announced some amendments to its Annual General Meeting (AGM).

The company advised that its AGM will be held online in light of the COVID-19 pandemic, on Wednesday 10 November, with the time yet to be confirmed.

As such, shareholders will have to tune in to the virtual meeting remotely – but the decision does allow the meeting to take place.

Clinvel's shares have been on an extended rally since the company announced record revenues and profit in its FY21 results last month. Since then, the Clinuvel Pharmaceuticals share price has climbed 49% to date.

Imugene Limited (ASX: IMU)

Another ASX healthcare share gaining steam today is biopharma company Imugene, posting a gain of 5% on the day.

Imugene shares are on the move after the company announced that its HER-Vaxx immunotherapy was granted patent approval in Japan.

This is a big move for the company and its HER-Vaxx regime, which is "currently in development" for gastric cancer.

As a result, Imugene's HER-Vaxx therapy has protection in Japan, for the "composition and method of use" in its application.

The release also notes that "approximately 75% of all gastric cancer diagnoses are in Asia", and that Japan has the "thirst highest incidence rate of gastric cancer worldwide".

Imugene is hoping to make a meaningful difference to that statistic with its immunotherapy.

These three ASX Healthcare shares have beaten the broad indices today.

The post These 3 ASX Healthcare shares are running hot today appeared first on The Motley Fool Australia.

At the time of writing, shares in the CBD and hemp healthcare products company are up 3% to 35 cents.

What's driving the Bod share price higher?

According to its latest update, Bod enjoyed record medicinal cannabis sales growth in FY21.

In total, Bod dispensed 12,187 products, representing a 212% increase on the prior corresponding period.

The company also delivered a 17% quarter-on-quarter growth, with 4,441 medicinal cannabis product units sold in the fourth quarter of FY21.

In addition, it retained a 46% share of the total Australian market for full plant high CBD products in FY21. Pleasingly, its market share continues to gather pace, increasing in the last six months of FY21.

In further news, the company said its strong and growing market share was underpinned by repeat prescriptions. These accounted for 65% of total prescriptions sold in FY21.

Additionally, Bod's ongoing educational initiatives with healthcare professionals and an Australia-wide study into the effectiveness of its medicinal cannabis range also contributed to its growth.

Looking ahead, the company intends to scale up operations across its Australian and United Kingdom markets to drive growth and market share.

How that affects the Bod share price remains to be seen.

Management commentary

Bod CEO Jo Patterson was pleased with the company's growth momentum, saying:

During FY2021, the company maintained nearly a 50% market share for the total addressable market for high CBD products in Australia. While repeat prescriptions remained at a high level, Bod also increased its patient and doctor acquisitions through ongoing educational initiatives and its relationships with approved prescribers.

We anticipate increased demand for our medicinal cannabis product suite over the coming quarter and beyond. A number of new products are currently being introduced and operations in the UK continue to scale pleasingly. We look forward to updating shareholders on further growth as it materialises.

Bod share price tumbles in 2021

Despite the company's positive achievements in FY21, the Bod share price has tumbled 28% year-to-date.

However, the broader ASX cannabis sector has also struggled to find headway in the past few months.

Bod peers including Cann Group Ltd (ASX: CAN), Ecofibre Ltd (ASX: EOF) and Althea Group Holdings Ltd (ASX: AGH) have tumbled 38%, 63%, and 25% respectively, year-to-date.

The post Why the Bod (ASX:BDA) share price is climbing today appeared first on The Motley Fool Australia.

At the time of writing, shares in the cannabis healthcare company are trading 21.6% higher at 45 cents. In comparison, the All Ordinaries Index (ASX: XAO) is 0.56% in the green, sitting at 7,338 points.

What's driving the Bod share price higher?

Investors are fighting to get a hold of Bod shares after the company advised it has achieved its highest ever month of medicinal cannabis sales.

In total, 1,789 MediCabilis prescriptions were fulfilled in Australia during the month of April. This represents an 11% increase on the previous record month, in which March delivered 1,617 prescriptions. For the FY21 period, the company has sold 9,519 units, marking a 138% jump on FY20 levels.

Roughly 27% of the total special access scheme category B prescriptions were filled across Australia last month. Overall, this category accounted for 6,682 completed prescriptions, reflecting continued momentum.

Bod stated that 64% of the sales orders dispensed in April came from repeat prescriptions. This highlights patient and physician product satisfaction while generating consistent and recurring revenue.

Bod CEO Jo Patterson touched on the company's performance, saying:

MediCabilis volumes continue to grow at a very pleasing rate and the recent prescription sales growth further highlight Bod's ability to generate strong revenues across one of the company's two core operating divisions.

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.

Bod share price review

Despite today's meteoric rise, Bod share price has lost 6% since the beginning of 2021. It's worth noting though, the company's shares mostly accelerated at the back end of last year, before recently treading lower.

Based on today's prices, Bod presides a market capitalisation of about $39 million, with approximately 105 million shares on issue.

The post Up 21%, why the Bod (ASX:BDA) share price is smoking the market today appeared first on The Motley Fool Australia.

What did Bod announce?

Investors are scrambling to buy Bod shares following its latest positive update in a bid to expand its revenue base.

According to this morning's release, Bod advised it has received its initial binding purchase order from Health & Happiness Group. The first of multiple orders for the CBD products are set to be launched into the United States market. This also includes three full-spectrum CBD oil extracts under its premium brand name, CBII.

The products will be available to consumers directly through ecommercial channels sometime in the current first-half of the calendar year. Consequently, Health & Happiness will commence marketing and brand campaigns to create awareness and drive sales in the United States.

The maiden order is valued at $312,000, in which Bod will received a royalty on net product sales. In addition, a cost-plus margin for the supply of the finished goods is also set to create addition revenue streams for Bod.

Delivery of the first lot of CBD products is expected to arrive in the coming months.

The addressable market for CBD consumer products in the United States is estimated to reach around US$6.9 billion by 2025. This represents four times the size that of the United Kingdom's CBD market.

Comments from the CEO

Bod CEO Jo Patterson commented:

The first US purchase order is an exciting step for Bod on two fronts, firstly as it's growing our global footprint, and secondly the US offers a significant opportunity for consumer healthcare CBD products.

Bod will continue to work with H&H to progress additional opportunities in North America. We look forward to updating shareholders on more purchase orders soon.

About the share price

Over the last 12 months, the Bod share price has accelerated to more than 100%, but is relatively flat year-to-date. The company's shares reached a 52-week high of 74 cents last December, before moving in circles.

Based on the current share price, Bod has a market capitalisation of roughly $50.2 million, with 105.8 million shares outstanding.

The post Bod (ASX:BDA) share price soars on United States market entry appeared first on The Motley Fool Australia.

At the time of writing, shares in the cannabis healthcare company are trading 5.3% higher at 49.5 cents.

What's driving the Bod share price higher?

The company has delivered record sales for the second-quarter of the 2021 financial year.

For the period ending December 31, total attributable sales came in at $3.3 million. This represents a 52% lift on the previous quarter, and 144% increase over the same time last year.

The strong performance was underpinned by a number of purchase orders from Bod's exclusive global partner, Health & Happiness. The latter recently launched CBD and hemp products across European markets such as the Netherlands, France, Italy, and the United Kingdom.

In addition, Bod revealed that an uptick in prescription volumes of its medicinal cannabis product, MediCabilis, contributed to the sound result.

In addition, the company says that both its cannabis medical division and CBD and Hemp consumer products are generating strong recurring revenue.

Bod further noted that sales growth is expected to continue in the current quarter and foreseeable future. This is backed by the company strategically entering new attractive markets while focusing on growth in Australian and United Kingdom medicinal cannabis sales.

Comments from the CEO

Bod CEO Jo Patterson, hailed the milestone, saying:

The progress achieved over the last quarter is a great result for Bod. The company has considerably broadened its international footprint, with new market entries into the Netherlands, France and Italy, as well as extended its product ranges in the UK. Further, we have increased sales of our medicinal cannabis products in Australia and are now benefitting from this growth.

Demand for our medicinal cannabis, and CBD and hemp products continues to escalate and we expect binding purchase orders to increase during the current period and the remainder of FY2021. Bod has also retained a strong cash balance, which will allow it to progress a number of initiatives including new market entries and product launches. We look forward to updating shareholders on progress over the coming months.

About the Bod share price

The Bod share price has gained 312% over its multi-year low of 12 cents reached in March last year, outperforming the All Ordinaries Index (ASX: XAO) in the same time frame.
Shares in the company hit an all-time high of 74 cents at the start of December.

The post Why the Bod (ASX:BDA) share price is tracking 5% higher today appeared first on The Motley Fool Australia.

Shares in the medicinal cannabis company have soared on the news, gaining 10.47%. As a result the Bod share price is currently trading at 48 cents.

What's driving the Bod share price?

This morning, Bod announced it had achieved strong cannabis sales for the second half of the calendar year 2020.

The company fulfilled 3941 prescriptions in the six-month period, up 91% on the previous half-year results of 2063. This means the cannabis producer has now filled more than 8000 prescriptions since July 2019.

The positive growth can be attributed to continued product uptake and strong brand recognition in Australia. In addition, the company's nationwide study released last year has continued to educate Australians on the benefits of Bod's products. This has generated more sales.

The company also noted that repeat prescribers accounted for 62% of the volume in the second half of 2020, indicating both patient and physician satisfaction.

What did management say?

Bod CEO Jo Patterson welcomed the news, saying:

It is very pleasing to see strong growth and continued support from patients and physicians for our MediCabilis product. MediCabilis is commonly prescribed for a range of chronic conditions, but most noticeably chronic pain and anxiety.

To treat these kinds of conditions, patients will always require a GMP pharmaceutical grade, standardised and consistent product. This is one of the key competitive advantages of MediCabilis and one of the reasons behind the company's strong repeat prescription growth.

We expect strong demand for MediCabilis to continue across Australia and this growth will continue to add to our revenue profile. Board and management look forward to updating shareholders on sales progress in the coming months.

What now for the Bod share price

The Bod share price fell 18% in December although shareholders were rewarded with a 71% gain over the last 6 months. This has continued into the beginning of this year with today's 11% intraday rise.

Thanks to the recent growth in MediCabilis sales and prescription volumes, Bod's revenue profile has significantly increased. As a result, the company is expecting this growth to continue into the coming months both domestically and in the UK market.

The post Why the Bod (ASX:BDA) share price is soaring 11% appeared first on The Motley Fool Australia.

Four shares that are climbing more than most today are listed below. Here's why they are racing higher:

Atomos Ltd (ASX: AMS)

The Atomos share price has jumped 11% to $1.09. Investors have been buying the global video technology company's shares after the release of a trading update. That update revealed that Atomos achieved sales of $32.6 million during the first half. This was well ahead of its previous guidance of ~$28 million. Management advised that sales momentum in the later months of the half accelerated after its customers adjusted to a new COVID norm.

BOD Australia Ltd (ASX: BDA)

The Bod Australia share price has surged 11.5% higher to 48 cents. Investors have been buying the medicinal cannabis company's shares after it reported strong sales growth. According to the release, Bod filled a total of 3,941 MediCabilis prescriptions during the last six months. This marks a 91% increase on the previous six months and a 114% increase on the prior corresponding period. Bod has now filled over 8,000 MediCabilis prescriptions since July 2019.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price is up a further 7% to $2.82. This lithium miner's shares have been on fire over the last few months after lithium prices improved. In fact, an update by rival Pilbara Minerals Ltd (ASX: PLS) on Wednesday revealed that the Platts Battery Grade lithium carbonate pricing is up 35% to date from its lows in August 2020.

Zebit Inc (ASX: ZBT)

The Zebit share price has jumped 11% to $1.05 following the release of a trading update. That update revealed that the ecommerce company achieved net sales of US$44.8 million in the final quarter of 2020. This was a 35.2% increase on the prior corresponding period. Management advised that this was due to the strong trading conditions recorded throughout the peak shopping season.

The post Why Atomos, BOD Australia, Galaxy, & Zebit shares are racing higher appeared first on The Motley Fool Australia.

What did Bod announce?

This morning, Bod advised it has received additional orders from its exclusive global partner, Health & Happiness Group, for 4 Swisse Wellness-branded hemp seed oil products to be sold in Italy.

This follows an initial order from Health & Happiness, in which $1 million worth of products entered the Italian market last month. The new purchase of the hemp seed oil products is worth $871,413. As per the licencing agreement terms, Bod will also collect royalty payments on net product sales, and a cost-plus margin for the supply of its ingredients.

Enclosed in a soft gel cap form, the hemp seed oil products are designed to promote sleep, reduce stress and increase general wellness. Once delivered, the batch will be distributed to more than 4,000 pharmacies as well as being available through Swisse e-commerce channels.

Bod revealed that the market entrance into Italy will coincide with the launch of a Swisse branded marketing campaign. In-store promotions and social media advertising will form part of a sales initiative to drive purchases and increase brand awareness.

In addition, the company will seek to further strengthen its revenue growth by introducing nine new products into the United Kingdom and Europe. Marketed under the brand name of Swisse and CBII, the CBD and hemp products will include topical creams, soft gel caps and other skincare items.

As Bod's manufacturing facilities have started production, it is expected that these will be launched in the coming months.

What did management say?

Bod CEO Jo Patterson welcomed the progress, saying:

It is pleasing to see the momentum that is building for the Italian market in a short time period which strengthens the company's growing revenue profile and highlights the potential growth trajectory that our exclusive global agreement with H&H Group can deliver.

Bod is now selling products in Australia, the UK, France, Italy and the Netherlands. H&H Group have an established footprint in each of these key markets and with a number of new products to be brought to market shortly, we expect additional purchase orders to continue to grow in size and volume.

More on the Bod share price

The Bod share price performed relatively well before the start of this month, increasing more than 400% from its March lows.

However, in the past week alone, its shares have dropped more than 20%. This comes after reaching a 52-week high of 74 cents 2 weeks ago.

The post Why the Bod (ASX:BDA) share price is rising 5% today appeared first on The Motley Fool Australia.

Let's take a look and see how BOD has performed so far in the first quarter of FY21.

What's driving the BOD share price?

The BOD share price is marching higher today after the company reported strong medicinal cannabis sales during the month of October.

In total, 755 MediCabilis prescriptions were filled, representing an increase of 106% in monthly prescription volumes since July 2019. The surge in sales was a part of a record purchase order received during the first quarter of FY21 for 2,630 units.

The company noted that since January this year, over 4,400 prescriptions have been filled. This marks a 124% uplift on 2019 calendar year volumes, which received 1,959 orders.

BOD stated that the ongoing upward trajectory in prescription volumes has significantly boosted revenue. In addition, the company said that it's seeing repeat customers account for 60% of October volumes, reinforcing patient satisfaction.

Dominant market share

Supported by the surge in demand for its MediCabilis product, BOD revealed its market share has amplified. The company reported that it now has 57% market share in full-plant, high CBD products in Australia.

Furthermore, BOD anticipates that robust sales will continue over the coming months due to increased brand recognition. This follows the company's nationwide clinical observation study that was announced in July this year.

CEO commentary

BOD CEO, Ms Jo Patterson, commented on the sales growth recorded last month, saying:

While MediCabilis is being prescribed for a range of chronic conditions, we are currently achieving strongest uptake amongst patients suffering from chronic pain and anxiety. These conditions require the use of a pharmaceutical grade, standardised and consistent product, which is one of the key advantages of MediCabilis.

Strong demand for our MediCabilis product range in Australia will continue to add to our growing revenue profile and we are confident that sales will continue to increase.

About the BOD share price

The BOD share price has been storming higher since March and is now beginning to approach its all-time high of 64 cents reached in July, 2019.

Recent developments, such as the company entering the Netherlands market and attaining record orders, have presumably been pushing the BOD share price higher.

BOD is hopeful that, as it seeks to expand its offering to new geographical markets, this will lead to further growth opportunities.

The post Why the BOD (ASX:BDA) share price is on the run today appeared first on The Motley Fool Australia.

The Australian micro-cap has been on an impressive run as of late, gaining 75% so far this year.

What BOD does

BOD is a vertically integrated (loosely meaning it does everything itself) distributor of plant-based natural health supplements and beauty solutions. BOD partnered with Australian vitamin giant Swisse in July last year.

The company has a cannabis business and is developing a range of over the counter and therapeutic products based on certified cannabis extracts.

Product launch

The BOD share price was flying today as the company announced it has launched its four new CBD products in the Netherlands. The products were released under recognised Australian vitamin and skincare brand Swisse Wellness.

The CBD products are in soft, gel-cap form and are designed to target specific need states including immune function and joint mobility.

The entry into the Netherlands marks the third major market entry for BOD consumer CBD products. The cannabis producer currently has sales channels established in Australia, the United Kingdom and the Netherlands. Furthermore, BOD is planning more expansion into the European market which is estimated to be worth upwards of 450 million euros.

CEO of the company, Jo Patterson, was pleased as she said:

Together with H&H, we have now collaboratively launched Swisse-products into three major markets in a very short space of time and the Company is confident that our highquality CBD products will be well received by consumers to address a range of mainstream need states.

What now for the BOD share price?

The BOD share price rose almost 8% today on the back of the impressive announcement. However, according to the release, there could be more news in store for holders of the cannabis company's shares.

This is because BOD also disclosed it is now focused on progressing its United States market entry, with the first binding purchase orders for products expected later this quarter.

The post BOD (ASX:BDA) share price soars 8% on product launch appeared first on The Motley Fool Australia.

What does Bod do?

Bod Australia is a cannabis-centric healthcare company. Founded in 2014, the company is a developer, manufacturer, distributor and marketer of plant-based natural health supplements and beauty solutions. In late 2016, the company pivoted to focus on cannabis as the market environment improved, developing over the counter and therapeutic products based on good manufacturing practice ('GMP') certified cannabis extracts.

Bod recently launched 9 hemp-based products in collaboration with Swisse Wellness, which are being distributed to more than 2,000 leading retailers such as Coles, Priceline and Chemist Warehouse in Australia. The company also operates in the UK.

What is driving the Bod share price higher?

The Bod share price is rising on news that the company has achieved sales revenue of $2.74 million in the quarter ended June 2020. That represents a huge increase of 118% on the previous quarter (Q3 FY 2020). Most impressive, however, was the huge 358% increase in revenue to $6.14 million during FY 2020. The company also announced that cash used in operating activities continued to decrease as revenue from sales increased. 

Bod reports that revenue growth has been driven by unprecedented demand for CBD, hemp products, new international market entries and Bod's strong relationship with H&H Group Limited. Furthermore, Bod continued to reduce its cash burn during the quarter to $730,000, marking an 11% decrease on the previous quarter.

Commenting on the results, Bod CEO Jo Patterson stated:

This is a great result for Bod and validates the strategic investments made towards key growth opportunities over the past 12 months. Most importantly, Bod now has two core divisions that are generating growing, diversified and sustainable revenue streams and we enter FY2021 with considerable momentum.

New cannabis prescriptions

Adding to the positive sentiment around the Bod share price is the confirmation in today's announcement that the company has received its first medicinal cannabis prescriptions in the UK. The prescription came from a leading medicinal cannabis organisation, which has a number of clinics in London and the UK.

The UK has approximately 7.3 million consumers using CBD annually and represents a major market opportunity. According to the release, it is estimated this market will grow to be approximately four times larger than Australia's market by 2028.

Bod also received a prescription from Project Twenty21, Europe's largest medicinal cannabis registry, targeting 20,000 patients.

What now for Bod?

Looking forward, Bod reports it is focused on delivering important growth objectives via international market and product expansion initiatives. The company has a strong cash balance of $6.3 million, which gives it near-term flexibility and should allow it to pursue growth drivers. The company also confirmed it has not experienced any adverse effect on operations from COVID-19 thus far.

The Bod share price has been on a tear since its lows in March, gaining 125%, however, it remains down around 42% on this time last year.

The post Bod share price surges 5% on record revenue growth appeared first on The Motley Fool Australia.

A large number of announcements have been made by Australian pot stocks today. Here's a summary of what's happening:

The BOD Australia Ltd (ASX: BDA) share price is up over 6% to 33.5 cents on the day of its annual general meeting. Ahead of the event, the cannabis centric healthcare company released a presentation which appears to have caught the eye of investors. That presentation reminded investors that the innovation arm of Health & Happiness Group acquired a 17.64% stake in Bod Australia through a $5.5 million investment at $0.37 per share in July. Health & Happiness Group is the company behind the Swisse brand.

The Cann Global Ltd (ASX: CGB) share price is up 5% to 2.1 cents this morning. This follows the release of a product launch update. According to the release, Cann Global has launched its new and nutritious Black Label Hemp Seed Oil and Hemp Seed mixes product range. It also provided an update on its Costco deal. Its VitaHemp Premium Hemp Seed Oil capsules are now available for purchase from Costco's Australian stores after meeting stringent standards.

The Medlab Clinical Ltd (ASX: MDC) share price is up over 7% to 36.5 cents following the release of its October update. According to the release, Medlab achieved a record month in cannabis revenue with 846 bottles dispensed. The company's lead pain drug candidate programme "has seen unprecedented increases in demand."

The THC Global Group Ltd (ASX: THC) share price is up over 8% to 39.5 cents after providing an update on its Southport manufacturing facility. According to the release, THC has been granted a Manufacture Permit from the Australian Office of Drug Control for the facility. This allows the company to accept medicinal cannabis plant material from any Australian licenced and permitted cultivator. Furthermore, it can now commence production of Australian medicinal cannabis medicines. It believes it has the capacity to support a minimum of 250,000 Australian patients in addition to having excess capacity for the global export market.

The post Why THC Global and these ASX cannabis shares are rocketing higher today appeared first on The Motley Fool Australia.

Here's what has been happening today:

BOD Australia Ltd (ASX: BDA)

This morning this medicinal cannabis healthcare products company revealed solid medicinal cannabis prescription growth throughout September for its MediCabilis CBD product. According to the release, Bod dispensed 549 MediCabilis prescriptions in September, which was a 67% increase on the 329 prescriptions it reported in August. CEO Jo Patterson said: "The ongoing growth that Bod is witnessing in medicinal cannabis prescriptions highlights not only the versatility of our MediCabilis product, but also the outstanding quality of our extract. The repeat prescriptions which are underpinning growth also shows that there is considerable satisfaction from patients and also confidence in the product in the medical community."

Creso Pharma Limited (ASX: CPH)

This cannabis company provided an update on the status of its proposed acquisition by PharmaCielo by way of schemes of arrangement. According to the release, the Supreme Court of Western Australia has made orders that the company convene a meeting of its shareholders to consider and vote on the share scheme. Shareholders will be invited to vote on the takeover by PharmaCielo on November 11 in Perth. The Creso Pharma board continues to unanimously recommend that shareholders vote in favour of the proposed schemes, in the absence of a superior proposal.

MGC Pharmaceuticals Ltd (ASX: MXC)

Also releasing an announcement this morning was this European based cannabis company. It announced that the number of patients which are being prescribed its standardised, affordable cannabinoid medicines have passed the 400-prescription mark. This doubles the number of prescriptions since its 200 milestone which was announced in mid-September. Management explained that the increase demonstrated patient interest and demand for its phytocannabinoid derived medicines, the quality and cost competitiveness of its medicines, and its increasing distribution rollout capabilities.

The post Why these ASX cannabis shares are on the move today appeared first on The Motley Fool Australia.

While the bigger names such as Althea Group Holdings Limited (ASX: AGH), Auscann Group Holdings Ltd (ASX: AC8), and Cann Group Ltd (ASX: CAN) rose between 1% and 3% ahead of Canada legalising recreational cannabis on Wednesday, they weren't the biggest movers in the industry.

Three cannabis shares that performed especially well on Tuesday are listed below. Here's why they smoked the market:

The BOD Australia Ltd (ASX: BDA) share price jumped 12% to 60 cents. This morning BOD announced that it has successfully dosed its ECs315 cannabis extract in a sublingual wafer. This demonstrates that CBD can be delivered into a patient's bloodstream using its patented wafer system. Management believes this provides a proof of concept for BOD's cannabis sublingual wafer delivery system. According to the release, the trial will now be progressed to assess absorption rates of the wafer compared to other delivery methods and products.

The Hydroponics Company Ltd (ASX: THC) share price rose 12% to 61.5 cents after the cannabis company announced that it was well-positioned to benefit from the legalisation of recreational cannabis in Canada. According to the release, its main focus will remain on revenue generation from its global medicinal cannabis operations. But management believes its Canada-based Crystal Mountain business is well-positioned to take advantage of the rapidly changing cannabis market and growth in personal indoor farming. Crystal Mountain manufactures and distributes hydroponic equipment and supplies, with Canada being its principal market.

The MGC Pharmaceuticals Ltd (ASX: MXC) share price rocketed 25.5% higher to 7.9 cents before being placed into a trading halt in late trade. Management requested the trading halt so that it could respond to a Price Query from the ASX. It is unclear why investors have been suddenly picking up shares in a hurry today, however, last week its shares rallied higher after it received formal authorisation for the availability of its product CannEpil for supply in Australia through specialist prescribers under the Authorised Prescriber Scheme. CannEpil is a CBD-based medication that is used as a treatment for people with refractory epilepsy.

The post Why these cannabis shares smoked the market on Tuesday appeared first on The Motley Fool Australia.

Three small cap shares that have caught the eye today with solid gains are listed below. Here's why they are on the rise:

The BOD Australia Ltd (ASX: BDA) share price has jumped 8.5% to 58 cents after the cannabis company announced that it has successfully dosed its ECs315 cannabis extract in a sublingual wafer. This shows that CBD can be delivered into a patient's bloodstream using its patented wafer system. Management believes the study provides a proof of concept for Bod's cannabis sublingual wafer delivery system. It advised that the trial will now progress to assess absorption rates of the wafer compared to other delivery methods and products.

The Dacian Gold Ltd (ASX: DCN) share price has risen 8% to $2.31. This morning the gold miner was the subject of a positive broker note out of the Macquarie equities desk. According to the note, the broker has held firm with its outperform rating and $3.10 price target despite a soft quarterly production update on Monday. The broker is positive on Dacian due to its exploration pipeline and the ramp up of its Mt Morgans operation.

The Freelancer Ltd (ASX: FLN) share price has pushed 7.5% to 58 cents following the release of its quarterly update. In the third quarter of FY 2018 the company saw quarterly cash receipts rise 4% on the prior corresponding period to $13 million. This was driven by a 12% increase in Gross Marketplace Volume to $32 million and an increase in registered users to above 30 million. In addition to this, management advised of positive developments in relation to its membership fees. It explained that "the business is now cycling the large drop in membership fees that has been the primary drag on revenue in recent periods, which was the result of a conscious decision to cancel paid memberships of customers that were not receiving value from the plans and promoting a lower end plan by default."

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Three shares at the small end of the market that have performed particularly well today are listed below. Here's why they are on the rise:

The BOD Australia Ltd (ASX: BDA) share price has returned to trade with a bang today. The cannabis company's shares are up 7.5% to 64.5 cents after it announced the completion of a $6.4 million strategic placement. According to the release, the placement has been led by fund manager and leading international cannabis investor, Tribeca Investment Partners. Tribeca have cornerstoned the placement with a $1.9 million commitment and will become a substantial shareholder upon settlement of the transaction. The funds have been raised at a price of 53 cents per share and will be used to drive global expansion, broaden existing channels, and progress opportunities following the successful completion of Phase I Clinical trials for its sublingual cannabis wafer.

The FBR Ltd (ASX: FBR) share price has jumped 9% to 18 cents after the robotics company announced the completion of the fully operational build of its Hadrian X construction robot. According to the release, the achievement of this milestone now signals the commencement of Factory Acceptance Testing, where the robot will commence building structures in different configurations within a controlled environment. Management advised that FBR remains on track to complete Build1, the first build of a 3-bedroom, 2-bathroom structure by the Hadrian X robot in the second half of the 2018 calendar year.

The Tawana Resources N.L. (ASX: TAW) share price has jumped a further 12% to 33.7 cents. Investors have been fighting to get hold of shares amid speculation that the lithium-focused mineral exploration company could be a takeover target of lithium giant Galaxy Resources Limited (ASX: GXY). The AFR has suggested that Galaxy is interested in turning its attention to assets close to home after the Argentine government slapped a duty on exports.

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While Cann Group's share price was up by an incredible 35 per cent and Auscann's jumped by more than 50 per cent, another pot stock, BOD Australia Ltd (ASX: BDA), also enjoyed a staggering ascent with its shares price climbing by almost 40 per cent.

Numerous pot stocks across the board, including MGC Pharmaceuticals Ltd (ASX: MXC), Creso Pharma Ltd (ASX: CPH) and the Hydroponics Company Ltd (ASX: THC), all enjoyed big gains following an announcement of a loosening of restrictions concerning the exportation of cannabis products.

But BOD Australia went one step further to other pot stocks, announcing it had struck an agreement with Singapore-listed iX Biopharma Ltd (SGX: 42C) which could allow BOD Australia to capitalise on the changes to regulations.

BOD Australia, a developer and distributor of natural cosmetics and medicines, announced it has entered into an agreement to supply iX Biopharma with a range of medicinal cannabis extracts including oils and raw materials.

BOD Australia stated iX Biopharma will utilise BOD's products to create a "unique natural medicine product".

iX Biopharma intends to produce a wafer, similar to a thin biscuit, which releases "active compounds for rapid absorption" when placed under the consumer's tongue.

Trials of the new drug are set to commence this year.

BOD Australia CEO Jo Patterson said the upcoming "Phase I Clinical trials are incredibly important for the company as they will lead the development of specific therapeutic indications for Bod's medicinal cannabis product suite".

"We are currently investigating ways to advance our Phase I Clinical trial design to reduce time to market and cost savings, and look forward to updating shareholders as this progresses," Ms Patterson said.

In financial year 2017 BOD Australia reported a loss of $3.2 million on revenues of $350,000.

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