Medlab Clinical Ltd (ASX:MDC) is in a trading halt pending an announcement on the release of results from the NanaBis™ advanced cancer pain trial conducted at Royal North Shore Hospital in Sydney, Australia.
The trading halt will remain in place until the beginning of ASX trade on Monday, March 9, 2020, or when an announcement is released to the market, whichever occurs earliest.
Shares in the company, which has a market cap of approximately $53.6 million, last traded at 22.5 cents.
NanaBis™ study launch
Medlab officially launched the NanaBis™ observational study in February which aims to provide evidence that is based on real-world data for safety, tolerability, use and potential adverse events as well as potential impacts on the patient while being prescribed other medicines.
Medlab chief executive officer Dr Sean Hall said: “Medlab will be working closely with healthcare professionals to provide educational tools to better understand NanaBis™ as a treatment option for patients living with chronic pain.
“Participating patients will have access to medical cannabis at a significantly reduced price.”
Doctors will also be compensated for their participation in the study on a monthly, per-patient basis.