BOD Australia Confirms CBD Wafer’s Excellence Post The Clinical Trial; Stock Soars On ASX

  • Mar 26, 2019 AEDT
  • Team Kalkine
BOD Australia Confirms CBD Wafer’s Excellence Post The Clinical Trial; Stock Soars On ASX

The Double Bay, Australia-based BOD Australia Limited (ASX: BDA) is engaged in the manufacturing and sale of plant-based medicinal cannabis along with health supplements and cosmetic solutions. On March 26th, 2019, the company announced to have completed the experimental aspect of the Phase I Clinical Trial of its sublingual cannabis wafer, guaranteeing its commercial prospects.

The trial was essentially an open-label, randomised, placebo-controlled, four-way crossover study to examine the safety, tolerability, and pharmacokinetics of ECs315 administered as a single or multiple sublingual wafer and oil to around 24 healthy volunteers. The preliminary results obtained highlights the excellence of its proprietary CBD extract ECs315 and patented wafer delivery method, both of which have been termed safe for human consumption showing high tolerability characteristics.

Besides, it was also observed that the CBD from the wafer exhibited faster absorption rates than in oil form and compared to another competitor product. This peculiar feature could be advantageous for patients using cannabis and seeking more rapid relief from their symptoms. The clinical trial report is expected to be finalised in May 2019, and the outcomes will be published in medical journals and research reports thereafter.

With the results in hand, the company is now working on regulatory approvals while developing strategies for commercialisation and export activities, that will further underpin a planned scale up in production. Going forward, the safety data from the trial would be utilised to accelerate market penetration across Europe and the Americas, both possessing significant potential sales upside.

Earlier in March 2019, BOD Australia executed a letter of intent (LOI) with the longstanding partner and Belgian-based natural medicine manufacturer, Tilman S.A, that will distribute BOD’s cannabis range of NutraCabilis and MediCabilis across its current network of pharmacies and specialty retailers in Belgium and Luxemburg. Besides, it also extended its exclusive distribution rights of Tilman’s products in Australia, New Zealand and China (e-commerce) to introduce five new ranges.

The Lambert Initiative also recently placed its first order to BOD for the supply of a pharmaceutical grade GMP produced cannabis extract containing THC and CBD, for its application in a clinical trial relating to Tourette Syndrome.

BOD Australia released its financial results for the half-year ended December 31st, 2018, posting a high improvement of 48.3% in the revenue from ordinary activities to ~ $ 1.08 million as compared to the previous corresponding period (PCP) ended December 31st, 2017. The rise in sales was primarily driven by product suite expansion, new distribution agreements with Priceline and a generally positive product uptake.

There was a simultaneous increase in the loss from ordinary activities after tax attributable to the owners that amounted to ~ $ 2.79 million, up 108% on $ 1.33 million recorded in the PCP. The company remained well capitalised with the net cash and cash equivalents of around $ 6.86 million on account of cash inflows of ~ $ 6.4 million from financing activities.

BOD has a valuation of over AUD 23 million with ~ 69.39 million outstanding shares. At the time of trading on Tuesday, March 26th, 2019, at 03:42 PM AEST, the BDA stock price was trending at AUD 0.360, up 7.46% by AUD 0.025.


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