Join our daily newsletter At The Bell to receive exclusive market insights
- Medicinal cannabis company AusCann Group (AC8) is up more than 65 per cent today after completing manufacturing and testing of its hard-shall capsules
- Once tested, the capsules were found to have met all applicable criteria set out by the Australian Therapeutic Goods Administration (TGA)
- These capsules are a unique presentation for cannabinoid medicines and a clinical evaluation will provide the best dose selection
- AusCann is aiming to have these capsules available to the public before the first half of next year
- AusCann’s share price is continuing to rise with shares up 69.4 per cent and trading for 30.5 cents apiece
Medicinal cannabis company AusCann Group (AC8) is up more than 65 per cent today after completing manufacturing and testing of its hard-shall capsules.
AusCann is now working to develop a commercially focused, short clinical evaluation.
Its solid-fill capsule formulation is a unique presentation for cannabinoid medicines and the clinical evaluation goal is to provide key exposure information to inform about dose selection.
AusCann will inform the market once the clinical evaluation begins.
The hard-shell capsules were tested according to standardised validated tests used across the pharmaceutical industry to ensure product quality prior to release of the product to the market.
Once tested, the capsules were found to have met all applicable pre-defined criteria set out by the Australian Therapeutic Goods Administration (TGA), relevant International pharmacopoeial standards, and AusCann’s quality assurance and control procedures.
“AusCann’s manufacturing, operational processes and test results are up to global pharmaceutical standards which is great news for patients, healthcare professionals and AusCann’s investors,” CEO Ido Kanyon stated.
“Now with this stage of our R&D program complete, we are accelerating our path toward commercialisation with full confidence in our ability to consistently provide reliable, stable and standardised pharmaceutical products which address unmet medical needs,” he added.
Following all positive test results, AusCann will now progress with an accelerated path to commercialisation.
The company will supply products to physicians where approved under the TGA Special Access Scheme and Authorised Prescriber Scheme.
The test results confirm the dose reliability for every capsule assuring that each dose is true to label, the capsules perform consistently and remain stable throughout their shelf life, and they comply with international quality control standards of pharmaceutical products prescribed by doctors.
The release of these capsules validates AusCann as a commercial producer of reliable, stable and standardised pharmaceutical products.
AusCann is targeting hard-shell capsule availability for patients in Australia during the first half of 2020.
“We remain focused on making AusCann’s capsules available for prescription to patients in Australia during the first half of 2020,” Ido commented.
“Our goal is to provide high-quality medicine and to obtain detailed, data driven evaluations regarding the outcomes of AusCann’s pharmaceutical treatment,” he added.
AusCann’s share price is continuing to rise with shares up 69.4 per cent and trading for 30.5 cents apiece at 3:19 pm AEDT.
