Little Green Pharma (LGP) has disclosed that Elixxer Ltd, a Canadian investment firm and substantial shareholder in the company, has offloaded 1,590,243 shares for a total of C$268,858.
A substantial shareholder is any person or entity holding 5% or more of a company's voting shares.
When an entity drops below that threshold, it is required to inform the market accordingly.
The LGP share price surged 43%, moving from A$0.185c to A$0.265c, on Monday after the Therapeutic Goods Administration announced it would broaden patient access to psilocybin and MDMA, before retreating to $0.23c by the close of trading on Wednesday.
MGC Pharma
MGC Pharma has accessed US$600k (A$840k) from a US$10m convertible securities financing facility arranged through Mercer Street Global Opportunity Fund.
As part of the arrangement, MGC Pharma has issued 660,000 convertible notes at a face value of US$1 apiece.
The capital will be directed toward working capital requirements to support the company's day-to-day operations, including its ongoing clinical trial program.
Separately, the company has confirmed that chief financial officer (CFO) Angela Marie Graham has departed the position.
Graham's appointment was announced in April 2022 after MGC opted for a London-based CFO to reflect the expansion of its European Union and Israeli manufacturing and research activities.
UK-based group financial controller Tom Cairns will take on the role of chief accounting officer (the equivalent of CFO), with a direct reporting line to managing director and CEO Roby Zomer.
Medlab Clinical
Medlab has been granted a permit by the Office of Drug Control to export its NanaBis cannabinoid-based pain-management medicine to the United Kingdom.
In November 2022, NanaBis received approval from the UK Medicines and Healthcare Product Regulatory Agency for use within the UK Named Patient Program as an unapproved medicine under the name NanaDol.
Last month, Medlab obtained import certification for the medicine from the UK Home Office.
Several hundred units of NanaDol are expected to be shipped once secure freight arrangements are in place, with WEP Clinical overseeing distribution to patients in the UK.
Creso Pharma
Creso Pharma's psychedelics subsidiary Halucenex Life Sciences is investigating pathways to register its synthetic psilocybin formulation in Australia, following the TGA's approval of limited access last week.
Beginning July 1 2023, approved psychiatrists will be permitted by the regulator to prescribe psilocybin and MDMA for treatment-resistant depression and post-traumatic stress disorder.
Halucenex, which holds a licence to supply psilocybin under Health Canada's Special Access Program, is currently conducting a Phase II clinical trial examining the effectiveness of its formulation in patients with treatment-resistant PTSD.
Creso Pharma said the data generated from the trial may form the basis of its Australian strategy.
