Clinical trials will be progressed on the road towards the commercial opportunity that a registered drug would represent.
Notably, during December 2019, the NanaBis™ cancer pain trial at Royan North Shore Hospital was completed.
The highly significant data from the phase 2 clinical trials is expected by the end of February 2020.
Global conferences to discuss the findings of the trial are already being booked to include Australia, USA and Europe and phase 3 clinical trials are in design.
Quarterly revenue and volume growth continues
Revenues from our core cannabis-based medicines NanaBis™ and NanaBidial™ are starting to feature more prominently in quarterly incomes.
Both products are available in Australia via the Australian Government’s compassionate program (SAS).
Medlab generates the majority of its current revenue through the sales of its nutraceutical product range which features 25 premium formulations.
The nutraceuticals business is expanding into new revenue territories including the US, UK and Asia where Medlab expects to see revenue flow over the next few months without material operating or capital expenditure.
As Medlab progresses its core cannabis-based medicine portfolio, it expects them to contribute more materially to company revenue.