New South Wales based Medlab Clinical (ASX:MDC) says it achieved record sales of its NanaBis product in the first quarter of this year.
NanaBis is a product containing 1:1 ratios of cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC), delivered in a sub-micron spray applied to the oro-buccal membrane; i.e. the inside of the cheek. NanaBis is currently not listed on the Australian Register of Therapeutic Goods (ARTG), but is in clinical trial and available under the Therapeutic Goods Administration’s (TGA’s) Special Access Scheme (SAS).
In a report published Monday, Medlab says the company saw an increase of approximately 26% over the previous best quarter and 217% over the previous corresponding period for NanaBis sales. The March quarter was the first time sales volume reached over 2,000 bottles of the product.
The company notes this was achieved in the face of challenging supply restrictions connected to the COVID-19 pandemic, issues Medlab Clinical expects to be resolved in the current quarter.
Medlab also reported results for the Royal North Shore Hospital (RNSH) clinical trial for cancer pain were received.
“All primary and secondary endpoints were met and in addition it was found the total cohort had meaningful pain reduction, a specific patient subset being breast or prostate cancers with bone metastasis had an average of 40% improvement in pain scores from baseline.”
Medlab also makes mention of a NanaBis Observational Study that was launched in February this year, which has recruited approximately 142 Australian Doctors and 373 patients. This study involves delving into the safety, tolerability and further efficacy characteristics of the product for the treatment of cancer and non-cancer related related pain in general and specialty medical practices.
Last month, the company announced the launch of a free online clinical service that offers advice and connects Australians to doctors, specialists, naturopaths and pharmacists.
Looking ahead, the company states:
“The next short-term period continues to be very exciting for Medlab with release of the Depression trial results, continued preparation of the NanaBis Phase 3 trial protocols for the US and Australia as well as FDA IND application.”