MGC Pharmaceuticals

AU: MXC

AU$49.2m market cap

AU$0.04 last close

MGC Pharmaceuticals (ASX: MXC) is an Australia-headquartered specialist medical cannabis biopharma company, which has most of its operations based in Europe. Management has many years of technical, clinical and commercial experience in the medical cannabis industry.

Investment summary

Since beginning in earnest in August this year, 1,000 prescriptions for MGC’s phytocannabinoid products (CannEpil and MXP100) have been issued in Australia and the UK. Double the number of prescriptions were issued in October compared to September. Cash receipts for the quarter ending 30 September were A$413,000, with additional revenue of more than A$400,000 from recent sales expected to be received following the end of the quarter.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2018A 0.3 (8.9) (5.9) (0.52) N/A N/A
2019A 0.7 (1.8) (8.4) (0.70) N/A N/A
2020E 2.4 (7.9) (8.1) (0.59) N/A N/A
2021E 7.3 (5.8) (6.1) (0.44) N/A N/A
Industry outlook

Increasing acceptance and regulatory approvals in many countries have made medicinal cannabis a fast-growing industry. Cannabinoids have generated promising data in many indications and are attracting considerable interest.

Last updated on 13/11/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net debt (A$m) 5
Forecast gearing ratio (%) 61
Price performance
%
1m
3m
12m
Actual 2.9 (30.8) (16.3)
Relative* 1.6 (32.4) (28.7)
52-week high/low A$0.1/A$0.0
*% relative to local index
Key management
Brett Mitchell Executive Chairman
Roby Zomer President & CTO