A new Aussie study has found that cannabis could kill one of our deadliest diseases. Meanwhile, these stocks have shone in a lacklustre month for the sector.
Global cannabis stocks have taken a hit over that time, with the index falling by more than -12 per cent.
Source: NCV Global Cannabis Stock Index.
But there’s the pain of the drop has been eased by the melanoma study by researchers at Charles Darwin University (CDU) and the Royal Melbourne Institute of Technology (RMIT).
While treatment could still be years away, the in-vitro study showed there are anti-cancer effects of a specific extract from cannabis sativa called PHEC-66.
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According to the study, this strain forces melanoma cells into a “programmed cell death”, also known as apoptosis.
The cannabis extract works by attaching itself to the receptor on the melanoma cell surface, and changes the messages to the inside of the cell to manipulate the normal growth ie: force it to go into death progress.
“If we know how they react to cancer cells, particularly in the cause of cell death, we can refine treatment techniques to be more specific, responsive and effective,” said study co-author Dr Nazim Nassar.
Dr Nassar said the next challenge was to develop a targeted delivery system to the melanoma cells, enabling pre-clinical trials.
“Before we take this to human trials, we have to go through animal trials, we have to make sure that these products are safe and effective,” he said.
Germany legalises cannabis
Elsewhere, the German parliament has legalised cannabis possession in a landmark vote.
The bill will be effective on April 1, allowing people over the age of 18 to possess substantial amounts of the drug in public.
But the law is still imposing strict sales of cannabis in the country. For example, it is still illegal to sell marijuana through “cannabis social clubs”.
Under the new German law, adults will also be able to grow up to three cannabis plants at home.
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To ASX Weed Stocks ….
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INHALERX (ASX:IRX)
InhalerX has been rising despite revenue falling by 95 per cent for the full year.
Investors have been happy after the company announced a new focus in its biotech program.
InhalerX said that following pre-IND meeting feedback from the US FDA in March last year, the companyhad undertaken a detailed and careful evaluation process.
That resulted in the decision to promote BTcP (breakthrough cancer pain) as the primary indication of focus for the proposed Phase 2 trial of IRX211.
IRX explained that there were many aspects that made BTcP a more attractive acute pain candidate versus CRPS (complex regional pain syndrome), its previous focus.
This includes BTcP’s well-established condition, compared to the paroxysmal pain episodes in CRPS.
WELLNEX (ASX:WNX)
Wellnex said it achieved trading profit in February from normal operations.
Sales of Wellnex’s owned brands continue to grow, with February sales coming in at a record $1.3 million, at an average margin of 41 per cent, compared to FY23 historical margin of circa 20 per cent.
The acquisition of Pain Away has resulted in efficiencies in the business, with circa $1.5 million per annum in savings identified.
AROVELLA (ASX:ALA)
Arovella has entered into a global, exclusive licence with University of North Carolina Lineberger Comprehensive Cancer Center to incorporate the novel armouring cytokine technology (IL-12-TM) for its CAR-iNKT cell platform.
The technology was developed by Professor Gianpietro Dotti, a pioneer of CARiNKT cells, and was recently published in the prestigious peer-reviewed journal Nature Communications.
When the IL-12-TM technology was tested on mice with neuroblastoma, and they were assessed four weeks after dosing, investigators found that CAR-iNKT cells containing IL-12-TM were at much higher numbers in the bloodstream (more than 10 times) than CAR-iNKT cells that did not contain IL-12.
Investigators also found that about 75 per cent of the mice were still alive 60 days after treatment for the IL-12-TM group, while all mice in the group treated with CAR-iNKT cells lacking IL-12 had died.
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LITTLE GREEN PHARMA (ASX:LGP)
LGP, which has seen its stock price fall by 1.85 per cent in the past month, recently announced it had shipped its first batch of LGP-branded high-THC Desert Flame cannabis flower products to Poland.
The shipment is the culmination of process that has taken more than three-years.
LGP had to obtain a Polish marketing authorisation from the nation’s health regulator, with the products to be distributed in Poland by LGP’s distribution partner, Medezin.
With a population of 38 million and an import-only supply regime, the Polish cannabis market is currently serviced by less than 10 suppliers, predominantly large North American operations such as Curaleaf, Aurora, Canopy Growth and Tilray.
LGP is the first Australian company in the market.
This content first appeared on stockhead.com.au
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