Medlab Posts Quarterly Results, Gives Trial Update

Medlab (ASX:MDC) ran through the highlights of its most recent earnings period as the firm issued its report for the most recent quarterly period.

As quoted in the press release:

The key highlights for the period have been:

• Recruitment in Medlab’s Phase 2 trial at Royal North Shore Hospital is completed and results expected by Christmas.
• Collections of AU$2.401m, an increase of approx. 96 percent over the corresponding period last year.
• R&D Tax Incentive FY 2019 of AU$2.1m was received in October.
• Agreement executed to expand nutraceuticals to USA
• First export order of Medlab’s newest cannabinoid (NanoCBD) of 1,500 units to Hong Kong received and deposit paid.

The current quarter and first quarter next year are expected to be exciting for the company with the release of Phase 2 trial data and preparation for Phase 3 trial in the US and Australia.

We expect to deliver significant news on progress on across our businesses and exciting opportunities for our customers, our staff and our shareholders.

Click here to read the full press release.