Medlab Clinical

AU: MDC

Market CapAU$27m

Last Close AU$0.08

Based in Australia, Medlab Clinical is developing therapeutics using its proprietary delivery platform NanoCelle. Its most advanced programme is in cancer pain management with lead drug candidate NanaBis, a medicinal cannabis product for cancer-related bone pain. It is also developing a synthetic THC/CBD analogy of NanaBis.

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Investment summary

Medlab’s proprietary platform, NanoCelle, is a patented nanomicellar formulation that can improve the delivery of drugs. Medlab’s lead product is NanaBis, a combination of THC and CBD (1:1) cannabinoids encapsulated in NanoCelle particles, which enable a convenient buccal spray formulation. A recent breakthrough was Medlab’s announcement that it had successfully produced a synthetic version of NanaBis, which will allow it to move away from a botanical extract. Once the product reformulation is completed, NanaBis will re-enter clinical development (potentially Phase III) as a fully synthetic, non-opioid pain relief drug aimed at a vast market. Using NanoCelle delivery technology, Medlab is also expanding beyond cannabinoids and is pursuing several small and large molecule programmes (including a non-invasive mRNA COVID-19 vaccine).

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2020A 5.8 (12.3) (13.5) (5.9) N/A N/A
2021A 8.1 (11.4) (12.4) (4.2) N/A N/A
2022E 8.0 (11.7) (12.7) (3.7) N/A N/A
2023E 10.4 (9.9) (11.0) (3.2) N/A N/A
Industry outlook

There is a growing consensus in the medical community that medicinal cannabis has a place in chronic pain management. With the opioid crisis unravelling, we believe support for non-opioid pain killers from various stakeholders will only grow.

Last updated on 23/05/2022
Content on Medlab Clinical
Medlab Clinical: A new focus on patient suffering
Healthcare | blog | 15 February 2022
Medlab Clinical: Edison Open House Healthcare 2022
Healthcare | Edison TV | 9 February 2022
Medlab Clinical – Transforming into a pure-play biotech
Healthcare | research Update | 27 January 2022
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Share price graph
Balance sheet
Forecast net cash (A$m) 0.7
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (25.7) (42.2) (61.0)
Relative* (22.0) (41.6) (61.7)
52-week high/low A$0.2/A$0.1
*% relative to local index
Key management
Sean Hall CEO