AusCann Group Holdings Ltd (ASX: AS8) operates as a holding company. The Company, through its subsidiaries, develops cannabis-based medical products. AusCann Group Holdings produces and sells cannabinoid medicines for application in anti-convulsion, neuroprotectant, anti-inflammatory, anti-nausea, glaucoma, pain management, and appetite stimulation areas.
The company, today on 7 March 2019, has published its investor presentation for the half year ended to 31 December 2018. The company has strong & strategic partnerships along with experienced team members which provide the company with the strategic advantage. The company has a strategy to Develop and produce cannabinoid pharmaceuticals which address the medical needs of doctors and their patients.
In July 2018, AusCann completed a share placement program and raised capital around A$33.5m, and a further A$1.9m was raised in August 2018 via a share purchase plan. The company will initially focus upon the capsule-based pharmaceuticals for management of chronic pain (including neuropathic pain) using extracted cannabinoids as the API (active pharmaceutical ingredient).
The company has got comprehensive plans for Distribution throughout Australia via established pharmaceutical distribution channels & unregistered product pathways. The company aims to have cannabinoid pharmaceuticals for chronic pain indications registered on the ARTG (Australian Register of Therapeutic Goods) and ultimately covered under PBS (Pharmaceutical Benefits Scheme) reimbursement.
As per the financial report for the HY ended 31 December 2018 released earlier, it reported the loss of the consolidated entity for the half year was $4,438,372 (2017: $4,829,822).
The net assets of the consolidated entity increased to $43,255,881 as at 31 December 2018 from $14,112,032 at 30 June 2018. The company had over $41m in cash as of 31 December 2018.
During the subject period, the company designated PCI Pharma which is registered as the TGA licencee to manufacture and release its inaugural medicinal cannabis product line i.e., its proprietary solid hard-shell capsules for handling of chronic pain.
Coming to FY19, the company will focus upon the new proprietary solid hard-shell capsules to treat chronic pain. It is expected to get released for the clinical trials during 2019. This is being Manufactured under contract by PCI Pharma. The company will also focus upon the diversification of the cannabis raw material supply base. The DayaCann will continue to pursue export licenses from Chile.
On the price-performance front, the stock has posted the YTD return of -36.51%. The company did post returns of -56.28%, -39.39% & -19.19% over the past six months, three & one-month period respectively. At the time of writing (07 March 2019, AEST 4:00 PM), Ac8’s shares traded at a price of $0.40, performing flat during the day’s trade with a market capitalisation of ~$ 123.64 Mn. The stock opened the day at $ 0.415, reached the day’s high of $ 0.435 and touched the day’s low of $ 0.400, with an average daily volume of ~ 2,474,353. It had a 52-week high price of $ 1.800 and a 52 weeks low price of $ 0.375, with an average volume of, 1,060,985 approximately.
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