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MGC Pharma hails good quarter as UK patients get CannEpil

Published 28/07/2023, 11:42 pm
© Reuters.  MGC  Pharma hails good quarter as UK patients get CannEpil

MGC Pharma said it has seen good momentum in its latest quarter with CannEpil, its Investigational Medicinal Product now available in the UK by Named Patient Request.

The first patient has also received the cannabis-based painkiller through the 'I AM Billy Foundation'.

Elsewhere, MGC has also received permission from the Slovenian Ministry of Health to undergo research with psilocybin as part of its expansion into psychedelic treatments.

Roby Zomer, chief executive, commented: "We are delighted to report on a very productive June quarter for the business.

Cashflows in the quarter to June included A$404,000 cash outflows associated with inventory production, A$921,000 for administration costs (including product registration costs), and cash inflows of A$3.4mln including funding received from a placing conducted in April.

Separately, MGC said that Arron Canicais has resigned as joint company secretary effective today, with Rowan Harland remaining as sole company secretary.

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