Late Friday, Australia became the first country in the world to recognise ecstasy and magic mushrooms as medical treatments.

Officially, the drugs approved for use are 3,4-methylenedioxy-methamphetamine (MDMA) and psilocybin. 

The Therapeutic Goods Administration made the surprise announcement that both would be allowed to be prescribed by psychiatrists from July onwards to treat mental disorders.

The milestone triggered investors to pile onto one particular ASX stock on Monday morning.

'The only ASX company' in position to take advantage of TGA decision

Furious demand saw the share price for neuroscience and mental health biotech Emyria Ltd (ASX: EMD) rocket 47.4% upwards after just 38 minutes of trading on Monday.

The company itself had recognised the TGA announcement before the session, calling it a "landmark" decision in a statement to the ASX.

"Emyria… is well positioned to accelerate patient access to MDMA-assisted therapies following recent TGA regulation changes."

While the TGA was mulling over the decision, Emyria had set up "a network of clinical partners", formed a supply chain and "developed a comprehensive Phase 2B clinical trial protocol for MDMA-assisted therapy".

According to Emyria managing director Dr Michael Winlo, the "mental health crisis" globally continues to bear tremendous social and monetary costs.

"Which is why the TGA's move to reschedule MDMA and psilocybin is timely and world-leading," he said.

"Emyria is well-prepared to support the safe provision of MDMA-assisted therapies under this new change as the only ASX company with a clinical service specialising in unregistered medicines and real-world data generation."

He added that the company has "also developed a comprehensive MDMA-assisted therapy protocol that can now support specialists".

Drug discovery program

Emyria also has fires burning for related products. It has launched an "MDMA-inspired drug discovery" program in conjunction with the University of Western Australia.

"The partnership has now developed, screened and filed IP for over 140 proprietary, neurologically active and novel MDMA-like compounds with the potential to become registered treatments for a range of neuropsychiatric disorders and new psychedelic treatments."

The Emyria board stated that the TGA decision would create a pathway for "registration and reimbursement for MDMA and its analogues".

"We believe the TGA's decision will allow Emyria – and its partners – to build a stronger evidence base for treating mental health conditions with psychedelics and make a large and positive impact for patients globally," said Winlo.

The post ASX biotech share rockets 47% on 'landmark decision' appeared first on The Motley Fool Australia.

ASX cannabis shares have been mixed performers on the market in the year to date, but are there better days ahead?

Cannabis shares on the ASX include Cronos Australia Ltd (ASX: CAU), Incannex Healthcare Ltd (ASX: IHL), Emyria Ltd (ASX: EMD), Cann Group Ltd (ASX: CAN) and Creso Pharma Ltd (ASX: CPH).

Let's take a look at some of the cannabis shares on the market.

What's going on?

Many ASX cannabis shares have struggled year to date. Incannex shares have slumped 49% this year so far, while Creso Pharma shares have lost 52%.

Meanwhile, Cann Group shares have fallen nearly 2% and Emyria shares have lost nearly 30%.

Incannex is a cannabinoid and psychedelic compound medicine development company. Despite falling in the year to date, the company's shares have experienced a recent boost on the back of recent news. The company stated it has the "world's largest portfolio of patented medicinal cannabinoid drug formulations and psychedelic treatment protocols".

Commenting on the cannabis industry, Former Incannex chief medical officer Dr Sud Agarwal told The Australian the "industry went off with a bang" in 2016 and 2017. However, he said by 2021 and the second half of early 2022, there has been "a real compression of values". Dr Agarwal, current CEO and founder of Cannvalate Medical Cannabis, added:

That is mainly because a lot of companies haven't performed in terms of revenues but also people who had previously been investors in cannabis probably just got fatigued.

Meanwhile, Cronos develops and sells cannabinoid brands and products in Australia, Japan and Hong Kong. Cronos shares have soared 55% in the year to date.

SG Hiscock Medical Technology Fund manager Rory Hunter singled out Cronos as a company making money. Also commenting in The Australian, he said:

The fact is not all companies are underperforming. Cronos Australia is one ASX-listed company that has strong financial performance.

It's downstream in the value chain, highly scalable and has a cash generative business model. It's also the only ASX-listed company in the industry making money right now.

How have these ASX cannabis shares performed in the last month?

In the past month, ASX cannabis shares appear to be recovering. The Cronos share price has lifted nearly 57%, while Incannex shares have exploded 60% and Emyria shares have jumped nearly 23%.

However, Creso Pharma shares have descended 11% in the last month and Cann Group shares have fallen nearly 7%.

For perspective, the S&P/ASX 200 Health Care Index has climbed 0.7% in the past month.

The post Can ASX cannabis shares ever fully recover? appeared first on The Motley Fool Australia.

The ASX cannabis sector had its growth clipped in FY22 with plenty of shares declining in the financial year.

Turning to FY23, the outlook is choppy. Investors are continuing to navigate the prospects of higher inflation and/or potential economic recession, putting growth at risk.

These trends have spilled over into the new financial year. On the charts, ASX cannabis shares are taking an absolute hammering.

Let's take a look.

Industry growth trends bode well for ASX cannabis shares

All growing puns aside, Australia's cannabis sector has been poised to grow by more than 80% year over year in CY22.

This growth could generate sales of more than $420 million, according to research conducted by FreshLeaf analytics, which has been researching Australia's cannabis industry since 2017.

The report, not freely available, said consumer trends are shifting to acceptance of medicinal cannabis use. Access is also improving for patients.

It also said that "psychedelics are a big part of a new future growth narrative," adding that government support will continue to play a large role through "down-scheduling".

Meanwhile, the Australian legal cannabis market was sized at $75 million in 2021.

The market is expected to grow at a compound annual growth rate (CAGR) of 30% from 2022 to 2030, according to Grand View Research.

"Increased use of marijuana, mostly for medical purposes, is boosting total market growth as customers migrate from traditional treatment methods to cannabis-based treatment," the report noted.

With growth potential on the horizon, this could weigh positively for several beaten-down ASX cannabis shares. These include Incannex Healthcare Ltd (ASX: IHL), Emyria Ltd (ASX: EMD) and Cronos Australia Ltd (ASX: CAU).

The returns of these ASX shares are shown below

The post Green shoots or just weeds? The outlook for ASX cannabis shares in FY23 appeared first on The Motley Fool Australia.

There were mixed fortunes for ASX cannabis shares in FY22. Among the bunch there were winners and losers, all while investors navigated broad-market volatility.

However, the sector wasn't immune to selling pressure. Like most pockets of the market, cannabis stocks, on the whole, finished down last financial year despite the industry's achievements.

Let's take a look at three selected shares from the bunch to see how they went in FY22.

Emyria Ltd (ASX: EMD)

Shares of Emyria finished FY22 around 5% higher.

The share raced to its 52-week high of 49.5 cents in November 2021, only to gyrate downwards for the remainder of the year.

Back in February, Eymyria announced it had broadened its MDMA analogue library. This was in collaboration with the University of Western Australia.

Then in May, it provided an update on this partnership, noting the pair had agreed to "substantially expand their collaboration" to develop novel MDMA-like medicines.

"To date, 85 compounds have been successfully screened with several compounds being prepared for preclinical testing to determine their therapeutic potential," Emyria said.

This year to date, the Emyria share price is down around 43%.

Incannex Healthcare Ltd (ASX: IHL)

At the other end of the spectrum is Incannex Healthcare, which lost 16% in FY22. The share rallied from lows of 24 cents in August 2021 and surged to highs of 70 cents by January.

From there, it was a series of peaks and troughs with the ASX cannabis share trading as low as 42 cents and as high as 73 cents and everywhere in between from January to April.

After a rollercoaster of volatility, investors finally unloaded their positions en masse in April and the trend continued until the financial year's end.

Around the time of its rapid decline, news the company executed a term sheet to acquire APIRx Pharmaceutical USA, LLC was received poorly by investors.

Alas, the downtrend has continued and Incannex hit its 52-week lows last week at 21 cents. It now trades at 24.5 cents apiece.

Cronos Australia Ltd (ASX: CAU)

Another ASX cannabis share worth mentioning is Cronos. Out of the three names mentioned here, it was the top performer, and managed to secure a 127% gain in FY22.

It has since slipped from those levels and trades at 20 cents apiece, having dipped 20% this week. Zooming out, however, the share has continued its upward trajectory over the past year or so.

Investors rewarded Cronos throughout the year after it provided a series of positive updates including a solid first half of FY22.

It realised cash flow from operations of $9 million for the half, after producing around $28 million in cash receipts for the six months.

Perhaps the larger news however was the merger with CDA Health Pty Ltd.

That was in December 2021 and made CDA the owner of Cronos. CDA is an importer, exporter and wholesaler of cannabis products in Australia. It's been around since 2017.

Investors must have seen the upside in the transaction, judging from the share's performance on the chart in FY22.

The post How did ASX cannabis shares perform in FY22? appeared first on The Motley Fool Australia.

ASX cannabis shares aren't garnering the financial media attention they once did, but some of the top companies continue to deliver outsized gains.

It wasn't too long ago when all a company needed to do to garner investor interest was mention they were involved in medicinal or recreational cannabis research or production. That was often enough to see speculators pile in, drawn by the promise of new legal markets opening up across the world.

More recently ASX cannabis shares have been shunted out of the spotlight amid soaring commodity and energy prices.

Below we look at five of the top ASX companies operating in the legal marijuana sector. Three are posting strong gains over the past 12 months while two are deep in the red.

For some context, the All Ordinaries Index (ASX: XAO) is up 1.6% since this time last year.

First, the two ASX cannabis shares that have been slipping.

These shares have faced some headwinds

Creso Pharma Ltd (ASX: CPH) develops pharmaceutical-grade cannabis and hemp-based nutraceutical products for human and animal treatments.

Shares in the ASX cannabis company closed as high as $1.01 back in November 2017, in the months leading up to Canada's decision to legalise recreational use.

Since then, Creso has struggled. Over the past year, shares are down 55.8%, currently trading for 5.3 cents.

Another ASX cannabis share that's lost ground this year is Cann Group Ltd (ASX: CAN).

The company cultivates cannabis for both medicinal and research purposes.

Cann traded at $4.01 per share back in January 2018. As with Creso, this was also during the time that the global media were throwing the spotlight on Canada's pending marijuana legalisation amid similar moves underway by numerous US states.

The Cann Group share price is down 23.3% over the past 12 months, currently trading for 33 cents.

Which brings us to the ASX cannabis share gainers…

These ASX cannabis shares have smashed the one-year benchmark returns

Among the big gainers this past year is Emyria Ltd (ASX: EMD).The clin ical-stage biotech company is strongly focused on cannabinoid medicines.

Emyria is a relative newcomer to the ASX, having listed on 12 February 2020. Shares traded at all-time highs of 44 cents in November last year.

The Emyria share price currently stands at 29 cents, up 26% in 12 months.

Up next, we have Incannex Healthcare Ltd (ASX: IHL).

The cannabinoid and psychedelic compound medicine development company hit five-year highs in early March this year, trading for 68 cents per share.

Since then, shares have retraced to the current 46 cents. Still, that's up an impressive 84% since this time last year.

And rounding off our list, the ASX cannabis share with the biggest gain is Cronos Australia Ltd (ASX: CAU).

Operating in the healthcare industry, the company offers both THC and CBD products.

Cronos shares hit record-highs of 38 cents in February this year. The Cronos share price currently stands at 28 cents, up a whopping 129.2% over the past 12 months.

That's one ASX cannabis share that's still smoking hot.

The post Remember when ASX cannabis shares were smoking hot? Where are they now? appeared first on The Motley Fool Australia.

While it hasn't been immune to the big reset in Aussie markets, the cannabis sector has certainly remained buoyant this year.

Whilst most sectors have seen last year's gains evaporate in 2022 so far, ASX cannabis shares appear to be flowering along nicely, with several names outstripping peers in adjacent markets.

Here are three standouts from the bunch.

Emyria Ltd (ASX: EMD)

Emyria has been busy these past few months – very busy. In February, the biotech advised it had expanded its proprietary MDMA analogue library with the University of Western Australia.

The following month, Emyria announced the launch of its "second highly bioavailable, ultra-pure CBD capsule, EMD-RX7".

According to the company, "EMD-RX7 demonstrates more than 4 times the bioavailability (a measure of the amount of the drug reaching the bloodstream) compared to the only registered CBD oil – Epidyolex – in a recent pharmacokinetic animal study meaning lower doses may be required for clinical results."

Last week, it provided more colour on its first ultra-pure CBD medicine, EMD–RX5. It said that patient dosing for a phase one clinical trial was completed and that preparations had been made for phase three pivotal trials as well.

At the time of writing, the Emyria share price is trading up 3.23% on the day at 32 cents. That takes its gains to 60% over the last 12 months.

Cronos Australia Ltd (ASX: CAU)

Shares in Cronos Australia have remained buoyant these past 12 months with a near 118% return. Shares are also up 52% this year to date to now trade at 30 cents.

In recent times, the big move for this cannabis player was its merger with CDA Health Pty Ltd back in December, placing the latter as a wholly-owned subsidiary of Cronos.

CEO Rodney Cocks said the merger will enable Cronos to "take the company to the next level of growth".

In its most recent earnings release, Cronos printed cash receipts of $28.5 million and was net cash flow positive from operations (CFFO) with $9 million in CFFO for HY FY22.

It also mentioned that "[m]edicinal cannabis unit sales for the first half of FY2022 exceed unit sales for all of FY2021".

Incannex Healthcare Ltd (ASX: IHL)

Shares in Incannex have also held returns over the last year, although have lost some of those gains in March. After some volatility, shares now rest at 46 cents apiece, after plunging from a high of 73 cents in March.

Investors had a tough time digesting the company's news it executed a term sheet to acquire APIRx Pharmaceutical USA, LLC.

The price was US$93 million and Incanncex mentioned that it is budgeting $5-$10 million on product expenditure for APIRx in the first year of operation.

As TMF reported at the time, "the company claim[ed] it now has an expanded total addressable market (TAM) of more than US$400 billion annually."

Since the announcement, shares have slipped hard and are down 31% in the past month of trade, but are up 77% in the last year.

The post How have ASX cannabis shares been performing so far in 2022? appeared first on The Motley Fool Australia.

ASX cannabis shares were a mixed bag in 2021 with the broad sector showing weakness across the entire year. Several of the majors underperformed, while key players continued to sprout through.

Checking the trade quotes for cannabis stocks listed on the Australian exchanges, it's abundantly clear most names are swimming in a sea of red across all time frames.

Yet, despite the broad-sector weakness, there were still pockets of green littered throughout the ASX cannabis space last year.

With 2022 now well underway, let's look back and observe some of the top-performing ASX cannabis shares in 2021.

Cronos Australia Ltd (ASX: CAU)

Shares in medicinal cannabinoid player Cronos continued charging higher in 2021 and bounced from a low of 10.5 cents in September to close the year at 20 cents.

The company advised of a key update back in December that is likely to be of critical importance to operations from 2022.

Mid-month Cronos announced it had completed its merger with CDA Health Pty Ltd. Pursuant to the merger, four directors of Cronos handed in their resignations and new directors have been appointed.

The company paid $5 million in cash and issued a total of 403,552,399 ordinary shares to CDA shareholders and has consideration to purchase of 100% of the shares in CDA Health.

As a result, CDA Health is now a wholly owned subsidiary of Cronos Australia. Former shareholders of CDA Health now own approximately 74% of Cronos Australia's issued capital (on an undiluted basis).

The new entity is forecasted to deliver proforma FY21 revenue of $23.1 million – up from $4.6 million the year prior. However, the cost of these revenues is expected to widen to over $15 million from $2.58 million in FY20.

Cronos finished the year 54% higher after gaining support towards the the back end of the year. Its shares are now trading at 29 cents apiece.

Incannex Healthcare Ltd (ASX: IHL)

Shares in medicinal ASX cannabis company Incannex Healthcare recovered from downward pressure in December and finished the year well in the green.

Investors who held Incannex for the entirety of 2021 saw their holdings increase by more than 294%, only dipping along the way alongside broad-sector weakness.

Investors weren't moved after Incannex advised it is in a position to conduct its offering of American Depositary Receipts (ADIs) in January 2022.

The date finally arrives after a lengthy and intense period taken to address concerns the US Securities and Exchange Commission raised alongside other regulatory headwinds. Incannex's listed ADSs will trade under the ticker symbol "IXHL", on the Nasdaq.

CEO and managing director of Incannex Healthcare, Joel Latham, said it was a "momentous year for Incannex" in 2021 with six research and development programs that "continue to progress rapidly".

The company also noted dosing of participants in its phase 2, proof-of-concept clinical trial for IHL-42X is complete.

The trial is investigating novel cannabinoid combination product, IHL-42X, for the treatment of obstructive sleep apnoea (OSA).

All participants in the phase 2 trial have now completed the treatment periods. Data is in the hands of Novotech, a contract research organisation. Delivery of the final clinical study report is anticipated in Q1 2022.

Emyria Ltd (ASX: EMD)

Emyria was another outperformer in 2021 with shares soaring almost 330% from a base of 9 cents. Shares traded as high as 49.5 cents at one point before finishing the year at 38.5 cents apiece.

Looking at the chart across the year, shares in the cannabis company were trading flat until they popped in late November.

Investors piled into the company after it announced a strategic investment at that time. The investment was a vote of confidence for the company seeing as it was made by one of Australia's largest private investment groups, Tattarang.

Tattarang is the brainchild of Australian billionaire and recent renewables energy juggernaut Andrew 'Twiggy' Forrest AO, chairman and founder of Fortescue Metals Group Limited (ASX: FMG).

Tattarang invested $5 million via a share placement at a price of 25 cents apiece, giving the investment firm a 7.3% stake in Emyria.

Funds raised will be put towards its synthetic cannabinoid programs with the Therapeutic Goods Administration (TGA) and the US Food and Drug Administration (FDA).

The company will also expand its novel MDMA-analogue treatment alongside the University of Western Australia.

The post These were the best-performing ASX cannabis shares in 2021 appeared first on The Motley Fool Australia.

Last year was a massive one for Fortescue Metals Group Limited's (ASX: FMG) Andrew 'Twiggy' Forrest, who made major investments in some notable ASX shares.

Aside from founding and chairing Fortescue Metals, its green energy leg Fortescue Future Industries (FFI), and philanthropic organisation Minderoo Foundation, the billionaire continued to invest through private vehicle Tattarang.

That's where Twiggy works on his most exciting and, perhaps, boggling investments. Let's look at what ASX shares the second richest person in Australia spends their money on.

Here are the ASX shares Twiggy bought up in 2021

Twiggy turned to the ASX to find strong investments in 2021, looking beyond resource companies to do so.

The investment vehicle bought a 7.3% stake in the cannabis-focused drug development company Emyria Ltd (ASX: EMD) for $5 million.

Tattarang believes a lack of clinical data is slowing the commercialisation of cannabis. Twiggy presumably thinks Emyria's patient-centric and data-driven approach is helping to address the gap.

Twiggy also recently took a multi-million dollar bite out of Bega Cheese Ltd (ASX: BGA). He walked away with a 6.61% slice in the company.

Additionally, he upped his stake in formerly ASX-listed Huon Aquaculture Group in an unsuccessful attempt to block a takeover bid.

Finally, one of Twiggy's major investment themes of 2021 was nickel mining.

His Wyloo Metals business signed an option and joint venture agreement that could see it purchasing 80% of a Canadian nickel project for $27.18 million (C$25 million).

Additionally, in late 2020, Twiggy's Wyloo Metals snapped up an approximate 22.65% holding in Canadian-listed Noront Resources Ltd.

The billionaire recently won a bidding battle against S&P/ASX 200 Index (ASX: XJO) iron ore giant BHP Group Ltd (ASX: BHP) for the remaining outstanding shares in the Canadian company. Though, Twiggy's takeover hasn't been finalised.

Tattarang also committed to a proposed 'Future Metals Hub' last year. The hub could see a new battery material supply chain born in Ontario.

The post Would you like cheese with that? A look at some of Twiggy's highest profile ASX investments of 2021 appeared first on The Motley Fool Australia.

ASX cannabis shares had a difficult month in November, with most majors finishing deep in the red.

Scrolling through the extensive list of Aussie cannabis stocks, it's abundantly clear that the sector experienced a wide sell-off. This coincided with weakness in the overall ASX healthcare sector.

We've sifted through the ASX cannabis basket to identify the diamonds in November's rough.

These 3 ASX cannabis shares were the top performers over the month.

Incannex Healthcare Ltd (ASX: IHL)

Shares in medicinal ASX cannabis company Incannex Healthcare lit up in November, finishing 41% higher at a new 52-week peak.

Investors responded positively to a suite of updates from Incannex. Most notable was an ethics committee's approval of the company's Phase 2a trial examining the effects of psilocybin on primary anxiety disorder.

Incannex is chasing a remedial breakthrough for this complex mental health ailment, which typically responds poorly to conventional treatments. Psychedelics such as psilocybin are gaining recognition as a potential primary line of defence to treat and manage these kinds of disorders without overloading patients with a cocktail of tablets.

Aside from this, the company successfully raised more than $17.5 million via an options exercise program. This beefed up the balance sheet and secured ample liquidity to fund its clinical trial programs.

The Incannex share price is up 246% this year to date. It finished Thursday's session at 52.5 cents, up 6.06% for the day.

Cronos Australia Ltd (ASX: CAU)

Cronos Australia aims to become a leading health and wellness company in the Asia Pacific through the creation and distribution of premium medical and consumer cannabinoid products and services.

It currently distributes its Adaya and Peace Naturals range of medicinal cannabis labels throughout Australia. It also owns more than 75% of another medicinal cannabis company, Cannadoc Health Pty Ltd.

Cronos shares exhibited a steady climb in November despite a lack of price-sensitive news from the company. Investors opened long positions in the ASX cannabis player and sent its share price 23.5% higher over the month. That's a 61.5% gain since 4 January as the stock reclaims territory lost in 2020 due to various challenges.

Cronos shares finished Thursday's session at 19 cents, down 5% for the day.

Emyria Ltd (ASX: EMD)

The Emyria share price was a clear outperformer in November. It closed the month with a 98% gain and nudged past its 52-week high.

The big upside move in Emyria's share price came after it announced a strategic investment on 22 November. The investment was made by one of Australia's largest private investment groups, Tattarang.

The name might sound familiar because Tattarang is owned by Dr Andrew 'Twiggy' Forrest AO. He's also the chairman and founder of ASX 200 giant Fortescue Metals Group Limited (ASX: FMG).

The $5 million investment was made via a share placement at a price of 25 cents. This gives Tattarang a 7.3% stake in the ASX cannabis company.

Emyria will allocate the funds to its synthetic cannabinoid programs with the Therapeutic Goods Administration (TGA) and the US Food and Drug Administration (FDA).

The company will also allocate some money to the development of its novel MDMA-analogue treatment alongside the University of Western Australia.

This ASX cannabis share may have given up some of its November gains already but its share price is still 280% higher this year to date. The company's shares closed at 38.5 cents on Thursday, down 3.75% for the day.

The post These were the top performing ASX cannabis shares in November appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) was rangebound today and closed the session 0.11% in the green at 7,407.5 points.

Meanwhile, the S&P/ASX 200 Health Care Index (ASX: XHJ) matched the broader market and also finished 0.11% higher today.

These 3 ASX health care shares stood out as clear winners amongst the packs, with each beating the market by 10% today. Here are the details.

Emyria Ltd (ASX: EMD)

Clinic and software operator Emyria came out 10% on top today despite there being no market sensitive information from the company.

However, Emyria shares took off in an almost vertical fashion last week and haven't slowed since. The company did release a flurry of announcements this week. Even still, investors were piling in and driving up prices in the days beforehand.

For instance, it announced a collaboration with strategic investor Tattarang, where the private investment group secured $5 million in Emyria via a share placement.

The funds will be used to accelerate synthetic cannabinoid registration programs with the TGA and FDA, and advance Emyria's novel MDMA-analogue development program with the University of Western Australia.

Then it followed up two days later advising it had received a $1.162 million R&D tax incentive refund, which kept its share price tracking upwards until today.

All in all, it's been a pleasant gain this month for Emyria shareholders. After a slight hiccup mid-month, the Emyria share price has gained over 92% so far in November.

Control Bionics Ltd (ASX: CBL)

Shares in Control Bionics also came out on top today, closing around 11.5% higher at 45.75 cents. Control's share price has been rolling downhill these past 3 months and has come off a 3-month low of 40.5 cents as of yesterday.

However, its presentation at the Morgans Investment conference yesterday appears to have gained investors' attraction once more. In the display, the company noted that it is aiming to combine its "NeuroNode wearable technology with high quality eye-gaze camera technology creating market leading products that delivered faster communication speed and significantly less fatigue than existing competition globally".

It also noted revenue of almost $4 million in FY21 and a healthy balance sheet with $12 million in liquidity as of 30 June 2021.

Control Bionics also intends to expand its product range within the assistive technology market for autism. Today's gains are welcomed after a difficult year for the company's share price, having posted a loss of 61% in the past 12 months.

Singular Health Group Ltd (ASX: SHG)

Shares in technology-driven imaging player Singular Health jumped 10% to finish at 27.5 cents. In fact, Singular Health shares have climbed 17% in the past 2 days, after hitting the ceiling at 30 cents last week.

Investors appear to have had a mixed reaction to confirmation that Singular is forming a 50/50 joint venture (JV) with TerraCentric Pty Ltd under the name of GeoVR Pty Ltd.

The sole purpose of the JV is to commercialise 3D and virtual reality software GeoVR technology. Specifically, the new company will focus on mineral exploration data to be visualised in a fully interactive 3D environment.

The move was labelled as a critical step by the company in diversifying away from traditional medical markets.

Following the release, shares jumped slightly, before tumbling over 21% in a matter of days. So today's gains are a hard one to pinpoint but are definitely part of the wider volatility in this name.

For instance, the Singular Health share price has traded as high as 30 cents and closed as low as 16 cents in the past 3 months – a 130% spread in pricing.

These 3 ASX health care shares all cruised past the market today amid strengths in the wider sector.

The post 3 ASX health care shares that burned the market today appeared first on The Motley Fool Australia.

The Emyria Ltd (ASX: EMD) share price jumped to an all-time high today. This comes after the drug development and care delivery company announced a successful share placement by one of Australia's largest private investment groups.

During afternoon trade, Emyria shares accelerated to a record high of 39 cents apiece before retreating slightly to 38 cents, up 16.92% at the time of writing.

Emyria secures strategic investment

Investors appear excited about the company bringing its newest investor on board, sending the Emyria share price to uncharted territory.

According to its release, Emyria advised it has received a $5 million strategic investment from Tattarang through a share placement.

Owned by the Forrest family, namely Andrew 'Twiggy' Forrest, Tattarang holds an extensive investment portfolio. This includes sectors across agri-food, energy, resources, property, lifestyle and healthtech.

Tattarang and its related entities hold a 36% stake in Fortescue Metals Group Limited (ASX: FMG).

Under the placement, Emyria will issue 20 million shares to Tattarang at a price of 25 cents each. Once completed, this will give Tattarang a 7.3% interest in Emyria.

In addition to the placement, 10 million options will be issued at an exercise price of 40 cents per option. The expiry date is two years from the expected date of 24 November 2021.

The funds received will be allocated to Emyria's synthetic cannabinoid registration programs with the Therapeutic Goods Administration (TGA), and the United States Food and Drug Administration (FDA).

Furthermore, the company is also seeking to advance its novel MDMA-analogue development program with the University of Western Australia.

Emyria managing director, Dr Michael Winlo commented:

We are delighted to receive Tattarang's strong support with this placement.

Emyria is the only ASX-listed company that controls patient-treating clinics and a clinical-trial-grade data system and uses these assets to accelerate the development and registration of new drugs, digital technologies and care models.

Our current leading programs cover synthetic cannabinoid-based pharmaceuticals, MDMA-assisted therapy and novel psychedelic drug development. We are very pleased to welcome Tattarang to be part of this next phase of growth.

Emyria share price summary

Over the past 12 months, Emyria shares have registered gains of more than 400%, with year-to-date hovering above 300% in 2021.

Emyria presides a market capitalisation of roughly $58.52 million and has approximately 153.99 million shares on its registry.

The post Here's why the Emyria (ASX:EMD) share price is up 17% to a record high appeared first on The Motley Fool Australia.

Shares in Emyria Ltd (ASX: EMD) are falling today after the company shared news of a psychedelic therapy program targeting post traumatic stress disorder (PTSD). At its intraday low, the Emyria share price has fallen by 5%.

At the time of writing, it has slightly recovered. Currently, the Emyria share price is down 3.85% – trading for 25 cents.

Let's take a closer look at the drug development and clinical services company's news.

Emyria's MDMA-assisted therapy trial

Emyria – formerly known as Emerald Clinics Limited – is set to sponsor a clinical trial targeting treatment resistant PTSD with MDMA-assisted therapy.

The trial has been developed in partnership with Mind Medicine Australia, a charity working to help end suffering caused by mental illness by creating more treatment options

The trial, which is still pending ethics approval, will evaluate the safety, efficacy and cost benefits of MDMA-assisted psychotherapy.

While the company didn't clarify how its trial will differ from others, it stated that most MDMA-assisted therapy involved 3 stages.

• Preparation – in this stage the therapist and patient get to know one another and build trust
• Administration and monitoring – the patient is given a dose of MDMA and supported by two therapists during a session which can last 6 to 8 hours
• Integration – the next day, and at an average of 3 weekly intervals, the patient and therapist discuss the experience and its outcomes.

A cohort of therapists trained for the trial will graduate this month from Mind Medicine Australia's training course. Emyria has a facility ready for the trial.

Currently, the two bodies are working to create an ethics protocol to receive ethics approval.

Prior research on MDMA-assisted therapy

According to Emyria's release, between 5% and 10% of Australians are likely to develop PTSD during their lifetimes. The rate of Australian veterans who will experience PTSD is estimated to be closer to 20%.

The former chair of the Australian Defence Force Admiral Chris Barrie recently encouraged the Australian Government to consider the clinical use of specific psychedelics to help those recovering from trauma.

Emyria stated there is a body of evidence showing that in a controlled environment and supported by psychotherapy, ketamine, psilocybin, and MDMA can help with treatment-resistant mental illnesses.

It pointed to a study by the Multidisciplinary Association for Psychedelic Studies that found that 67% of those who received MDMA-assisted therapy for PTSD didn't qualify for a PTSD diagnosis after three treatments.

Further, MDMA-assisted therapy for PTSD has been granted 'Breakthrough Therapy' status by the US Food and Drug Administration.

Commentary from management

Emyria's managing director Dr. Michael Winlo commented on the company's involvement in the trial:

At Emyria, our strength is in providing safe access to unregistered treatments while also generating clinical evidence. To date, we have cared for over 4,000 patients with major unmet needs (including more than 80 patients suffering with treatment resistant PTSD) and collected high-quality Real-World Evidence. Emyria's clinical advisory, site network and data infrastructure is uniquely positioned to support safe and scalable psychedelic-assisted therapy, much like we have demonstrated and accomplished with cannabinoid medicines.

Emyria share price snapshot

The drop experienced by the Emyria share price as a result of today's news is unlikely to bother most investors. That's because it's a tiny bit of turbulence when compared to the its recent take off.

Despite today's fall, the Emyria share price is up 150% year to date. It's also up 257% over the last 12 months.

The company has a market capitalisation of around $40 million, with approximately 254 million shares outstanding.

The post Emyria (ASX:EMD) share price falling on news of MDMA therapy trial appeared first on The Motley Fool Australia.

Cann Group Ltd (ASX: CAN) shares opened slightly higher on Monday but have since retreated. This comes after the company announced a partnership with Emyria Ltd (ASX: EMD). At the time of writing, the Cann share price is trading 1.75% lower at 56 cents after having reached as high as 59 cents in earlier trade.

Let's take a look at what the company announced.

Cann and Emyria partnership 

The Cann share price is failing to ignite today after the company announced a collaboration with Emyria will seek to accelerate the registration of a unique, low-dose, cannabidiol (CBD) only capsule with Australia's Therapeutic Goods Administration (TGA). 

Under the agreement, Emyria's EMD-003 drug development program will use Cann Group's proprietary Gelpell microsphere technology, as the basis for seeking a Schedule 3 registration for treating unmet needs in mental health. Cann Group previously acquired the rights to the Gelpell technology via its purchase of Europen company Satipharm. 

Scheduling is a national classification system that determines how medicines are made available to the public. Schedule 3 registration will result in the product being an over-the-counter, pharmacist only medicine. 

The collaboration leverages a number of important milestones that have already been met, including phase 1 trials of the Satipharm capsule. 

Emyria will lead the registration program with its experienced drug development and clinical team. The company has worked with Satipharm in the past, having written more than 400 Satipharm prescriptions to more than 170 patients.

According to the company, clinical trials have already hit the ground running and are guided by insights from Emyria data which include robust safety, efficacy and patient preference data for more than 3,500 patients treated at Emyria's Emerald Clinics. 

Emyria managing director Dr Michael Winlo commented: 

This partnership greatly accelerates Emyria's EMD-003 drug development program by combining Emyria's unique clinical data and drug development expertise with Cann Group's best in-class CBD delivery technology.

Satipharm CBD has already completed robust stability testing as well as Phase 1 clinical trials as required by the TGA. This allows us to move straight to pivotal clinical outcomes trials saving significant time and money. An experienced Contract Research Organisation (CRO) has already been engaged to manage these trials.

Further, at Emyria, we already have deep insights into how the Satipharm product performs clinically, having written over 400 Satipharm prescriptions to more than 170 patients. This de-risks the pivotal clinical outcomes trials required as an important first step towards registration with the TGA.

Global mental health challenge 

The collaboration highlights the global challenge of treating increasing mental health concerns, particularly over the last 12 months. 

A recent internal analysis from Emerald Clinics revealed that more than 50% of its patients were diagnosed with moderate to severe depression, anxiety and/or stress. 

If the collaboration is successful, the companies will be able to deliver a new, registered medicine for the treatment of psychological distress and symptoms of depression, anxiety and stress. 

Cann Group CEO Peter Crock commented that: 

We anticipate there will be a large patient demand for a TGA registered CBD medicine that is convenient to patients and demonstrates the highest standards of quality, safety and efficacy.

Cann share price snapshot

Over the past 12 months, the Cann share price has fallen by nearly 12%. Year to date, Cann shares are also down by nearly 6%.

Based on the current share price, the company has a market capitalisation of around $158 million.

The post Cann (ASX:CAN) share price slides despite collaboration news appeared first on The Motley Fool Australia.

The Emyria Ltd (ASX: EMD) share price is climbing higher following the announcement of an additional clinic to its portfolio. During mid-morning trade, healthcare technology and services company's shares are up 5.13% to 21 cents.

Emyria responds to growing demand

The Emyria share price is on the rise after providing investors with a positive update to respond to its growing demand.

According to its release, Emyria advised that it has expanded its subsidiary, Emerald Clinics, with the addition of a second consulting suite. Located in Perth, Western Australia, the new clinic will seek to service to the strong demand. Just last month, the company witnessed record patient appointments nationally, which it opened its second Melbourne office in response.

Additionally, the Perth office will have four consulting rooms located within the site of the West Leederville Private Hospital building. The new suite is expected to improve patient access to Emerald Clinics and help support the company's future EMD-003 clinical trials.

Currently, EMD-003 —Emyria's first cannabinoid-based medicine to reduce symptoms of anxiety, depression and stress — is in the planning phase. The company is hoping to achieve registration with the Australian Therapeutic Goods Administration (TGA) sometime this calendar year.

What did the managing director say?

Emyria managing director, Dr. Michael Winlo, touched on a number of the points. He said:

Western Australia was the first Emerald Clinics location. Demand for our services from both patients and referring doctors has grown every month since we opened. We anticipate this expansion will allow us to improve our waiting times and see more patients which, in turn, improves our proprietary data asset (Emyria Data).

Insights from Emyria Data is now informing the design and planning of pivotal drug registration clinical trials for our first drug program, EMD-003 – a cannabinoid medicine targeting unmet needs in mental health.

The additional clinical capacity in Perth also allows us to support a wider range of clinical trials in different indications as well as help us deliver on the recently awarded Future Health Research and Innovation Grant involving our TGA-registered remote monitoring system.

Emyria share price review

The Emyria share price has been a solid performer for the last 12 months, rising over 100%. Year-to-date, however, has seen the company's share recorded a 110% gain, reflecting fresh positive investor sentiment. It's worth noting that in February, its shares reached an all-time high of 27 cents.

The post Why the Emyria (ASX:EMD) share price is climbing 7% higher today appeared first on The Motley Fool Australia.

The Emyria Ltd (ASX: EMD) share price has been one of the best performers over the month. The share price has risen an astonishing 131%. Today alone, shares in the healthcare technology and services company are up 13% to 27 cents at the time of writing.

During the late afternoon trade, the company's shares were being picked up for 26.5 cents. This reflects an all-time high for the Emyria share price.

We take a closer look into what's moving its shares over the past few weeks.

What's the go with Emyria?

At the start of February, shares in the healthcare technology and services company were swapping hands for as little as 11 cents. However, a raft of positive announcements led investors to revaluate the company's prospect, sending the Emyria share price higher.

The first release was related to the company winning a digital health grant from the Western Australian government early this month. For this project, Emyria took the leadership role. This aimed to help boost the state's digital health infrastructure and capacity in dealing with major health concerns.

Following the digital health grant, the company announced last week that it added a second Melbourne clinic to its portfolio. The expanded presence comes after Emyria revealed that it has achieved record patient appointments in January 2021. In total, the company now has six locations across Australia gathering clinical data to improve the platform for patient care.

Quick take on Emyria

Emyria, formerly known as Emerald Clinics, operates a network of specialist medical clinics and purpose-built, remote patient monitoring technologies.

The company captures real-world clinical data. This is used to provide consultation letters, containing information on prescription, recommended dosage, and duration of cannabinoid-based medicines.

Emyria share price performance

As noted, the Emyria share price began the month at 11 cents but has surged following positive investor sentiment. The company's shares hit an all-time high today of 26.5 cents and could go higher based on its market capitalisation.

Emyria's current value stands at around $57 million according to its current share price. This represents an opportunity for explosive growth should the company continue to impress investors with its progress.

The post Emyria (ASX:EMD) share price up 131% this month. Here's why appeared first on The Motley Fool Australia.

The Emyria Ltd (ASX: EMD) share price is seesawing today despite the company winning a digital health monitoring grant with the University of Western Australia (UWA).

Shares in the healthcare technology and services company rose to an intraday high of 15 cents, before slightly pulling back. At the time of writing, the Emyria share price is up 3.5% to 14.5 cents.

Emyria, formerly known as Emerald Clinics, operates a network of specialist medical clinics and purpose-built, remote patient monitoring technologies. The company captures real-world clinical data and uses this to provide consultation letters, containing information on prescription, recommended dosage, and duration of cannabinoid-based medicines.

What did Emyria announce?

The Emyria share price is moving in both directions today as investors digest the company's latest announcement.

In its release, the company advised that it was recently awarded a grant from Western Australia's Future Health Research and Innovation Fund.

The grant aims to boost the state's digital health infrastructure and capacity in dealing with future health concerns. In light of this, Emyria highlighted that it will take the leadership role in collaborating with major health services and universities. The company will seek to develop improved monitoring of mental health at-risk individuals and COVID-19 patients using its contactless remote monitoring platform, Openly.

The total grant is valued at $880,000. Emyria predicts it will receive around $320,000 to $400,000 over two years.

What is Openly?

Initially developed to remotely screen and manage COVID-19 patients, the platform moved into the digital health and wellness screening space. Using smart mobile devices, Openly collects real-world data by monitoring heart rate and heart rate variability. The information is then presented to a medical team who can act on any abnormal changes to vital signs.

Openly was registered as a class 1 medical device with the Australian Therapeutic Goods Administration (TGA) in September last year.

Management comments

Emyria managing director Dr Michael Winlo commented on the successful grant:

It's very pleasing to see our unique contactless remote monitoring platform – Openly – recognised through this competitive grant process. Emyria's unique digital health technology and clinical team will be playing a major role in improving how we monitor the clinical and mental wellbeing of vulnerable populations in WA.

Openly – the core technology of this grant – will also support and monitor patients during our upcoming clinical trials. These pivotal studies will support the registration of our leading drug candidate EMD-003 – targeting unmet needs in psychological distress and the symptoms of anxiety, depression and stress.

About the Emyria share price

Looking at the historical Emyria share price chart, its shares are dead flat from this time last year.

The company's shares have been on a rollercoaster ride, diving to as low as 3.8 cents in August then rising to reach a 52-week high of 16 cents just two weeks ago.

Based on the current share price, Emyria has a market capitalisation of $32 million.

The post Why the Emyria (ASX:EMD) share price is seesawing today appeared first on The Motley Fool Australia.

Shares in Emerald Clinics Ltd (ASX: EMD) have surged nearly 30% in early trade following an announcement from the company. At the time of writing, the Emerald Clinics share price had risen 29.5% to currently trade at 7.9 cents.

What did Emerald Clinics announce?

Earlier today, Emerald Clinics released an announcement which highlighted record appointments in Australia, plans for international expansion and a proposed name change.

Despite the restrictions induced by COVID-19, Emerald Clinics reported a record 795 appointments in July. The company noted continued month-on-month growth in comparison to subdued demand in the majority of health services.

As a result, Emerald Clinics informed investors that the company is actively hiring clinicians in order to meet growing demand for its services. In addition, the company is expanding its remote monitoring capabilities and increasing its data insight platforms.

Emerald Clinics also announced that the company intends to change its name to Emyria Limited. According to the company, the proposed name change is consistent with its global ambitions and rebranding, the latter of which better communicates its scope of practice. The planned name change follows the company's data collaboration with a United Kingdom partner. 

What does Emerald Clinics do?

Emerald Clinics is network of specialist and referral only medical clinics. The company's clinicians are trained specialists in the application of unregistered medicines, which include cannabinoid products.

The company also focuses on collecting and developing high quality, real-world evidence (RWE) data. Emerald's RWE data platform aims to improve patient care, identify novel uses for existing therapies and explore the performance of certain medicines.

As a result, the data insights from Emerald's RWE platforms can also be provided to pharmaceutical companies on a subscription payment model.

Emerald Clinics recently signed with Spectrum Biomedical, a UK-based subsidiary of the world's largest cannabis company Canopy Growth Corp. Under the agreement, Emerald will design and deliver RWE focused on the safety and clinical outcomes of cannabis-based medicines produced by Spectrum. 

Foolish takeaway

At the time of writing, the Emerald Clinics share price is trading nearly 30% higher at 7.9 cents. Shares in the company were up nearly 40% earlier today after hitting an intra-day high of 8.5 cents.

The post Emerald Clinics share price soars 30% on new record appeared first on The Motley Fool Australia.