AusCann Group Holdings (ASX: AS8) has published its investor presentation outlining achievements to date, and plans for 2019.
Their focus is to get their cannabis-based capsule products for the treatment of chronic pain listed on the ARTG and covered by the PBS.
AusCann’s pilot study on the product was completed in August 2018, when the company announced it would be available in the first half of 2019.
The Managing Director at the time, Elaine Darby, said, “This new hard capsule will be a game changer for doctors and patients as it is easy to use and will give consistent treatment outcomes every time.”
Then, in January, AusCann acquired a $5.2 million R&D facility in Perth with the hopes it will strengthen its product pipeline. The 7,300m2 facility will include both cultivation and manufacturing to research grow and extraction technologies and produce products for clinical research. The facility is intended to be up and running sometime this year.
AusCann also boasts a range of partnerships, including Canopy Growth, Tasmanian Alkaloids, Medipharm Labs, and DayaCann.
However, a look into their financial report for the second half of 2018 shows limited operations. The company generated no sales revenue, or received any R&D Tax Incentive returns, indicating a lack of investment in research. Meanwhile, AUD $3.6 million was spent employee benefits, consulting fee’s, and other operational fees.
AusCann still holds a strong market cap, currently over AUD $125 million. They will be one to watch for 2019 to see if they can deliver on investors expectations.