MGC Pharmaceuticals

AU: MXC

AU$53.3m 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

MGC Pharmaceuticals is developing cannabis-based pharmaceutical products, initially in Australia and Europe. It is already growing medicinal cannabis crops in the Czech Republic and in Slovenia has established one of the few fully GMP-certified resin extraction and separation plants in Europe. It plans to establish larger-scale operations in Malta. It imported the first shipments of GMP-certified CannEpil into Australia and the UK in December 2018 and May 2019 respectively, for prescription by specialist doctors. The company intends to develop CannEpil and CogniCann as registered pharmaceutical treatments for refractory epilepsy and to improve quality of life in dementia patients. A Phase II study of CogniCann is underway in Australia.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2017A 0.1 (8.5) (8.5) (0.9) N/A N/A
2018A 0.3 (8.9) (9.0) (0.8) N/A N/A
2019E 1.2 (6.8) (6.8) (0.6) N/A N/A
2020E 2.4 (7.6) (7.7) (0.6) N/A N/A
Last updated on 19/09/2019
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 19/09/2019
Sector
Healthcare
Share price graph
Balance sheet
Forecast net cash (A$m) 2.3
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (22.0) (23.5) (22.0)
Relative* (25.1) (24.6) (28.0)
52-week high/low A$0.1/A$0.0
*% relative to local index
Key management
Brett Mitchell Executive Chairman
Roby Zomer President & CTO