{"id":1142,"date":"2023-11-08T18:40:58","date_gmt":"2023-11-08T18:40:58","guid":{"rendered":"https:\/\/economicherald.net\/?p=1142"},"modified":"2023-11-08T18:40:58","modified_gmt":"2023-11-08T18:40:58","slug":"weed-week-jamaican-nettletree-could-be-a-new-cheaper-option-to-source-cbd-says-scientists","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1142","title":{"rendered":"Weed Week: Jamaican nettletree could be a new, cheaper option to source CBD, says scientists"},"content":{"rendered":"

Jamaican nettletree is said to contain traces of cannabidiol (CBD)
\nVictoria set to launch a medical cannabis driving trial for patients\u00a0
\nHow ASX weed stocks have performed over the past week and month<\/p>\n

\u00a0<\/p>\n

Scientists in Brazil said they\u2019ve discovered cannabidiol (CBD)<\/strong> in the fruits and flowers of the Jamaican nettletree (Trema micranthum),<\/strong> a shrub native to tropical and subtropical regions of North and South America.<\/p>\n

The nettletree grows up to 10 metres tall with egg-shaped leaves of up to 9cm long, and are usually covered with white, woolly\u00a0pubescence\u00a0underneath.<\/p>\n

Flowers are greenish-white, while the tree\u2019s fruits are yellow to bright reddish-range, up to 4mm in diameter.<\/p>\n

Unlike the common Cannabis sativa plant (marijuana) however which contains THC, scientists say the Jamaican nettletree doesn\u2019t contain THC.<\/p>\n

Trema micrantha. Source: Flickr.<\/strong><\/em><\/p>\n

Why is that important?<\/p>\n

Because it could be an attractive new source of CBD that comes without the legal barriers associated with growing cannabis.<\/p>\n

\u201cIt was wonderful to find a plant (with CBD but) without THC, because you avoid all the mess around psychotropic psychoactive substances,\u201d molecular biologist, Rodrigo Moura Neto, told the AFP.<\/p>\n

\u201cIt would be an easier and cheaper source of cannabidiol,\u201d he added.<\/p>\n

Research on this plant is still ongoing.<\/p>\n

\u00a0<\/p>\n

Victoria allows cannabis patients to drive<\/h2>\n

Back home meanwhile, Victoria<\/strong> is set to launch a medical cannabis driving trial<\/strong> for patients undergoing a treatment.<\/p>\n

The VIC State Parliament has introduced a legislation to assess the effects of consumption of medical cannabis on driving behaviour.<\/p>\n

Under the Bill, medicinal cannabis users can get behind the wheel on closed roads, to see what impact the drug has on their driving ability.<\/p>\n

\u201cA medicinal cannabis patient should be treated like any other patient who is prescribed medicine by a doctor who also provides appropriate advice about when that patient is safe to drive,\u201d said \u00a0MP Rachel Payne.<\/p>\n

\u00a0<\/p>\n

To ASX Weed Stocks \u2026<\/h2>\n

Here\u2019s how the ASX weed stocks have performed, sorted by winners over the past week.<\/em><\/p>\n

<\/div>\n
Code Company Price 1-week return % 1-mth return % 6-mth return % 1-year return % Market cap EXL Elixinol Wellness 0.011 37.50 69.23 -38.89 -63.33 $6,944,782 IDT IDT Australia Ltd 0.078 30.00 25.81 -8.24 -22.00 $28,118,358 EMD Emyria Limited 0.083 18.57 18.57 -44.25 -58.19 $30,194,869 IHL Incannex Healthcare 0.068 13.33 7.94 -40.87 -70.43 $107,916,804 VIT Vitura Health Ltd 0.370 12.12 7.25 7.25 -57.23 $201,555,826 ZLD Zelira Therapeutics 1.025 11.41 4.59 10.22 -10.09 $11,176,948 LV1 Live Verdure Ltd 0.400 9.59 0.00 175.86 166.67 $43,742,032 CAN Cann Group Ltd 0.120 4.35 0.00 -24.40 -48.52 $51,120,490 ALA Arovella Therapeutic 0.092 3.37 17.95 24.32 253.85 $82,569,901 AGH Althea Group 0.042 0.00 35.48 -19.23 -38.24 $16,633,846 AC8 Auscann Grp Hlgs Ltd 0.040 0.00 0.00 0.00 0.00 $17,621,884 CGB Cann Global Limited 0.021 0.00 0.00 0.00 0.00 $5,614,845 EVE EVE Health Group Ltd 0.001 0.00 0.00 0.00 0.00 $5,274,483 MDC Medlab Clinical Ltd 6.600 0.00 0.00 0.00 -30.89 $15,071,113 RGI Roto-Gro Intl Ltd 0.220 0.00 0.00 0.00 0.00 $4,333,920 WNX Wellnex Life Ltd 0.052 0.00 0.00 -16.54 -31.17 $25,534,129 ECS ECS Botanics Holding 0.023 0.00 -4.17 35.29 -4.17 $25,454,805 NTI Neurotech Intl 0.058 0.00 -6.45 13.73 -37.63 $51,173,950 BOT Botanix Pharma Ltd 0.140 0.00 -6.67 66.67 125.81 $201,221,788 AVE Avecho Biotech Ltd 0.004 0.00 -11.11 -20.00 -55.56 $10,793,168 ME1 Melodiol Glb Health 0.003 0.00 -40.00 -72.73 -89.29 $11,502,311 WOA Wide Open Agricultur 0.175 0.00 -46.15 -46.15 -27.08 $30,281,915 BP8 Bph Global Ltd 0.001 0.00 -50.00 -75.00 -92.41 $1,615,563 RNO Rhinomed Ltd 0.029 -3.33 -29.27 -63.75 -73.64 $8,285,871 LGP Little Green Pharma 0.145 -6.45 -12.12 -17.14 -23.68 $45,013,985 EOF Ecofibre Limited 0.145 -6.45 -17.14 -19.44 -34.09 $56,731,085 IRX Inhalerx Limited 0.039 -7.14 -9.30 -13.33 -40.00 $7,400,911 DTZ Dotz Nano Ltd 0.165 -10.81 -5.71 -31.25 -41.07 $84,241,005 HGV Hygrovest Limited 0.051 -12.07 -3.77 -12.07 -26.09 $10,725,841 EPN Epsilon Healthcare 0.026 -13.33 -13.33 52.94 -18.75 $7,809,204 ROO Roots Sustainable 0.004 -20.00 -20.00 -33.33 -86.67 $613,250 WFL Wellfully Limited 0.003 -25.00 -25.00 -66.67 -86.36 $1,478,832 BOD BOD Science Ltd 0.035 -37.50 -49.28 -36.36 -63.16 $9,930,956 MXC Mgc Pharmaceuticals 0.480 -52.00 -76.00 -94.67 -96.44 $2,104,483 <\/div>\n

WordPress Tables Plugin<\/a><\/p>\n

\u00a0<\/p>\n

IDT Australia (ASX:IDT)<\/a><\/strong><\/p>\n

IDT rose after saying it is well placed to benefit from the rapid growth in the medicinal cannabis and psychedelic markets, given that IDT is one of the select few facilities that comply with the recently introduced GMP regulations.<\/p>\n

During the last quarter, IDT\u2019s potential sales pipeline also continued to grow, with the company generating 75 potential sales leads and signing confidentiality agreements with 15 potential clients.<\/p>\n

In the quarter, the company also submitted proposals worth an additional $11.3 million, and secured sales contracts worth $1.2 million.<\/p>\n

\u00a0<\/p>\n

Emyria (ASX:EMD)<\/a><\/strong><\/p>\n

MDMA\u00a0specialist\u00a0Emyria has secured an ethics endorsement for MDMA from its\u00a0Authorised Prescriber (AP) application.<\/p>\n

The\u00a0National Health and Medical Research Council (NHMRC)<\/em> ethics committee\u00a0has endorsed Emyria in support of its AP applications for the lead psychiatrists of its future MDMA-assisted therapy program<\/strong>.<\/p>\n

The approval is the first stage of a two-step evaluation, where final approval is still required from\u00a0Australia\u2019s Therapeutic Goods Administration (TGA)\u00a0which is still in progress.<\/p>\n

If secured, the approval may allow Emyria to become one of the first Australian companies to offer broader options for PTSD patients who have exhausted standard care options.<\/p>\n

\u00a0<\/p>\n

Vitura Health (ASX:VIT)<\/a><\/strong><\/p>\n

Vitura provided an update on its Cortexa Joint Venture<\/strong> with PharmAla Biotech<\/strong> on Tuesday.<\/p>\n

For what will be an Australian first, Vitura said it has landed MDMA bulk GMP Active Pharmaceutical Ingredient (API) into Australia, which is being prepared to be batch manufactured into finished dosage forms to GMP standards.<\/p>\n

In doing so, Cortexa will ensure reliable local supply to meet growing clinical and research demands.<\/p>\n

Concurrently, the first GMP MDMA capsules have been imported from Cortexa\u2019s joint venture partner, PharmAla Biotech, and are ready for patient prescriptions and clinical trials.<\/p>\n

The majority of this shipment is to satisfy demand under existing supply agreements including leading University clinical trials.<\/p>\n

Psilocybin bulk GMP API is also in the process of being transported to Australia, and like MDMA, there has been significant interest in the clinical and research prescription of psilocybin.<\/p>\n

\u00a0<\/p>\n

Cann Group (ASX:CAN)<\/a><\/strong><\/p>\n

During the last quarter to September, Cann\u2019s unaudited year to date sales revenue was $4.03m, representing two times the sales revenue of the pcp.<\/p>\n

Cash receipts from operating activities was $4.54m during the quarter, up 87% on the pcp.<\/p>\n

In July 2023, Cann said its harvest of crops, which are being continuously planted at a scale twice that of previous crops, commenced. Crop area harvested from mid-July equates to an annualised production level of eight tonnes.<\/p>\n

<\/span><\/p>\n

The post Weed Week: Jamaican nettletree could be a new, cheaper option to source CBD, says scientists<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Jamaican nettletree is said to contain traces of cannabidiol (CBD) Victoria set to launch a medical cannabis driving trial for patients\u00a0 How ASX weed stocks [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":1143,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nWeed Week: Jamaican nettletree could be a new, cheaper option to source CBD, says scientists - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=1142\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weed Week: Jamaican nettletree could be a new, cheaper option to source CBD, says scientists - 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