In a key advancement within Australia’s emerging medicinal cannabis market, Bod Australia (ASX: BDA) has commenced a national study which will be conducted over 12 months to trial the effectiveness of MediCabilis™ as a treatment for anxiety, insomnia and Post Traumatic Stress Disorder (PTSD).
The study will be conducted Australia-wide with Bod having partnered with reputable organisations which includes Cannabis Doctors Australia, Compass Clinics, Cannabis Access Clinics and Tetra Health.
Building on Bod’s Phase I clinical trials, the data collected will also support Project Twenty21, Europe’s largest medicinal cannabis registry, and be collected in a way that meets the compliance requirements for Bod to support a regulatory pathway for their MediCabilis™ range in the United States.
“We are confident that the outcomes from this extensive trial will provide important insights for medical practitioners into how MediCabilis™ can be best utilised for patients suffering from a number of chronic conditions and common, yet debilitating disorders,” said Bod Australia CEO, Jo Patterson.
“The need to find alternative solutions to treat a range of chronic health disorders is ever-present and we are hopeful that this trial will further demonstrate the effectiveness of MediCabilis™ in helping sufferers.
“The prevalence of these conditions amongst the global population is considerable – up to 33.7% of people are affected by an anxiety disorder during their lifetime with up to 30% not responding to regular treatment.”
Within the study, the 500 patients enrolled will be prescribed MediCabilis™ three to four times over the course of the observational study which will add to Bod’s sales pipeline while also increasing the product’s profile among healthcare professionals. Patients are currently being recruited and Bod anticipates prescriptions to commence this month.
Although the Australian market is still in its infancy of adapting cannabis as a medicinal treatment solution, Bod has continued to expand its sales pipeline globally to report $2.5m revenue for the quarter ending 30 June 2020 through its active profile in Europe.
Bod Australia expects to report FY20 revenues around $6m with no debt and $6.3m cash on hand.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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