Four ASX-listed cannabis shares to look at in October 2021

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Four ASX-listed cannabis shares to look at in October 2021

ASX-listed cannabis stocks-MXC, IDT, BDA, LGP
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  • Australian cannabis sector hit a significant milestone in 2021 after the Therapeutic Goods Administration approved the over-the-counter sales of cannabis products.
  • MGC Pharmaceuticals, IDT Australia, Bod Australia and Little Green Pharma are few prominent ASX-listed cannabis players.

Australian medicinal cannabis industry is continuing its solid growth trajectory and is anticipated to outstrip the growth projections in 2021.

In 2021, cannabis legislation hit a significant milestone in Australia after the Therapeutic Goods Administration (TGA) took the biggest step to approve the over-the-counter (OTC) sales of low-dose cannabidiol (CBD) products. With this decision, TGA had down-scheduled certain low dose CBD preparations from Schedule 4 to Schedule 3.

Currently, there are no TGA authorised CBD products that meet the Schedule 3 criteria. However, many Australian based cannabis players are in a race to develop Schedule 3 CBD products.

RELATED ARTICLE: Can Australia’s medicinal cannabis sector retain growth momentum?

In this backdrop, let us discuss four ASX-listed cannabis stocks-

MGC Pharmaceuticals Ltd (ASX:MXC)

European-based firm MGC Pharmaceuticals is engaged in the development and distribution of affordable phytocannabinoid derived medications all over the world. The Company has a growing patient base in the UK, Australia, Brazil and Ireland.

On 6 October 2021, the Company disclosed that it had obtained a Purchase Order (PO) for US$3 million from AMC Holdings Inc for MGC Pharmaceuticals’ COVID-19 treatment, CimetrA™.  This PO represents more than 110,000 units of CimetrATM and is the largest single order that MXC has obtained for any product so far.

Besides, the Company also highlighted that the agreement with AMC Holdings comprises an additional US$21 million of orders over years 2 and 3 for MGC products, including CimetrA™, CannEpil® and CogniCann®.

MGC Pharma has obtained a US$3M purchase order for CimetrA™

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On 7 October 2021, MXC shares last traded at AU$0.059, up by 1.724%. In the last three months, the shares have delivered an excellent return of 55.26%.

RELATED READ: Looking for pot stocks? Here are five exciting ASX cannabis shares

IDT Australia Limited (ASX:IDT)

IDT Australia is an Australia-based pharmaceutical manufacturing firm having broad experience in the development of high potency as well as high containment pharmaceutical formulations for the local and international market.

On 28 September 2021, IDT disclosed that the Company had obtained a manufacturing licence extension from the Therapeutic Goods Administration (TGA) for Sterile Licence.  The Company highlighted that this Sterile Licence is an extension to IDT Australia’s existing licence for manufacturing of therapeutic goods.

In FY21, IDT Australia recorded an NPAT of AU$2.1 million, representing year-on-year growth of 209.6%. The Company ended FY21 with a strong cash balance of AU$6.9 million.

IDT shares closed the day’s trade at AU$0.645, up by 7.5% on 7 October 2021. 

Bod Australia Limited (ASX:BDA)

Cannabis centric healthcare firm Bod Australia is working with the aim to deliver proven and trusted cannabis-based formulations for both the consumer markets as well as medical markets.

On 22 September 2021, the Company updated that it had entered into an agreement with the Woolcock Institute for conducting a Schedule 3 clinical trial of a new cannabidiol (CBD) product.

This agreement unlocks a significant opportunity for Bod as the Australian Schedule 3 market is valued at AU$250 million with the unregulated market estimated to be worth ~AU$3.5 billion, demonstrating the potential penetration for Schedule 3 medicines.

BDA has entered into an agreement for conducting a Schedule 3 clinical trial

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Furthermore, the finished product will be patentable and would allow Bod to progress potential licencing agreements with several players involved in the schedule 3 market.

RELATED ARTICLE: BOD Australia (ASX:BDA) progresses with clinical trial for new CBD product

On 7 October 2021, BDA shares last traded at AU$0.270, in line with the previous close.

Little Green Pharma Ltd (ASX:LGP)

ASX-listed Little Green Pharma is a prominent international medicinal cannabis firm with its major production assets across Australia and Europe.

LGP is working with the core strategy of introducing an expanded range of medicinal cannabis products and developing innovative prescription medicines. In FY21, the Company witnessed 217% revenue growth with more than 130% rise in patient numbers. Notably, LGP ended its FY21 with a robust balance sheet and AU$40.2 million cash at the bank.

Furthermore, in FY22, LGP intends to expand its Australian flower range in the first half. The Company has already imported its first shipment of Billy Buttons THC-16 cannabis flower medicine from its Denmark facility into Australia.

On 7 October 2021, LGP shares closed the day’s trade at AU$0.66, up by 3.937%.

RELATED ARTICLE: A look at four ASX-listed Cannabis stocks: MXC, AGH, AC8, BDA


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