MGC Pharmaceuticals Ltd - EU-based medicinal cannabis company dual-listed in Perth and London - Reports solid sales revenue in the first quarter following its London IPO in February. Says March delivered the best monthly sales revenue for the company to date from its pharmaceutical-grade phytomedicine products. "This was thanks to sales of the phytocannabinoid product line in Australia driving its best monthly unit sales to date with almost 1,500 units sold," says MGC. Notes start to research program into the use of cannabinoids in the treatment of aggressive glioblastoma brain cancer, which was also expanded to explore the use of nano technology during treatment.
MGC noted that it was the first medicinal cannabis company to list on the London Stock Exchange, following a GBP6.5 million placement in February.
Current stock price: 3.34 pence
Year-to-date change: up 40% since IPO on February 9
By Greg Roxburgh; gregroxburgh@alliancenews.com
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