A Victorian government report examining whether medicinal cannabis prescription holders could claim a legal defence when testing positive for THC — without being impaired — has been pushed back to the end of October.
The Labor Government announced in August it would consult legal and road safety experts over a three-month period to examine the proposal, with a report originally due by October 18.
Legalise Cannabis MP David Ettershank described the process as a "work in progress", with the report now anticipated next week.
The prospect of a legal defence for medicinal cannabis patients — contingent on them being unimpaired at the time — arose from a motion introduced by Legalise Cannabis Victoria.
Rua Bioscience
New Zealand-based Rua Bioscience has posted unaudited revenue of NZ$223,000 for the first quarter of FY25, a sharp rise compared with $86,000 recorded across the whole of FY24, as the company signalled plans for a capital raise to fund continued growth.
The company attributed the revenue jump to successful product launches across Germany, Australia, and New Zealand.
"Notably, our legacy genetics have been enthusiastically received in Australia, while Germany continues to show strong growth following regulatory changes in April this year," it said.
"Feedback from the German market suggests that demand is strong and will remain so for the foreseeable future as German patients and doctors become more familiar with the new regulations in place which remove cannabis from the narcotics schedule."
Rua also noted that its first dried flower product released in New Zealand has been "well received and growing as doctors and patients become familiar with the product".
The company expects sales to keep climbing, with a product launch in the UK anticipated within the next two months.
Rua said the expansion would require additional capital, with the details of a fundraising round to be disclosed at its annual general meeting on November 4.
"This is crucial to our success as the funds will be used primarily for working capital and marketing activities," it said. "The planned capital raise will facilitate our growth in international markets, allowing us to strengthen our foothold and continue our plans of delivering health-focused solutions globally."
Bod Science
Bod Science, currently the subject of a share purchase agreement with Biortica Agrimed, recorded cash receipts of A$149,000 in Q1 FY25 — a 176% increase on Q4 FY24, though still a 70% decline compared with the same period a year earlier.
The quarter-on-quarter improvement was driven by a resumption of cash receipts from the company's largest distributor after a secured advance was settled.
Net cash outflows for the quarter came to just $4,000, the result of "substantial reductions in all payment categories" following the company's entry into voluntary administration late last year.
