MGC Pharma Posts Quarterly Update

- November 5th, 2019

MGC Pharmaceuticals shared with investors its financial report for its most recent quarter.

MGC Pharmaceuticals (ASX:MXC) shared with investors its financial report for its most recent quarter.

As quoted in the press release:

Key Operational Highlights:

  • Multiple key milestones achieved for the Pharma operations including first materialprescription volumes issued, significant increase in patient numbers, and new revenue streams delivered
  • Patients in Australia and the United Kingdom being prescribed MGC Pharma’s phytocannabinoid based investigational medicines commenced in earnest during August, passing the 200, 400 and 800 prescription milestones within weeks during September and October – total prescriptions issued to date reached 1,000 at the end of October
  • Total cash receipts received for the September quarter of AU$413,000, with new Pharma revenue from recent sales of more than AU$400,000 to be received post quarter end

Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “We have seen another period of excellent progress delivering on our ‘Seed to Medicine’ business strategy. We have achieved multiple milestones across our pharma business channels, the highlight being the continuing rapid growth of prescription numbers, doubling in just two weeks during September and continuing during October, which validates the quality and immediate patient demand for our phytocannabinoid based investigational medicinal products (IMP) and underpins our growth potential.

Click here to read the full press release.

Get the latest Australia Investing stock information

Get the latest information about companies associated with Australia Investing Delivered directly to your inbox.

Australia Investing

Select None
Select All

Leave a Reply