Good morning. Welcome back to The Greenfields. We’ve fully recovered after missing Tuesdays newsletter and are back out there and smelling the flowers 😉 

What’ve we got for you today?

1. Cannabis prescriptions dropped 30% in April ⬇️

2. Avecho capital raise fails 💸

3. Cannabis improves your wellbeing 🧘

4. Little Green Pharma flies high (😉) in France 🇫🇷

Cannabis Prescriptions Drop 30% in April

April was a tough month for prescription cannabis in Australia, with an overall drop of 30% from the 11.26k prescriptions in March to 8.52k in April via the SAS-B pathway.

It is unclear what exactly caused this drop in SAS-B prescriptions in April.

It could be that more medical practitioners are now using the Authorised Prescriber scheme to prescribe medicinal cannabis instead. The Authorised Prescriber scheme is becoming increasingly popular among healthcare professionals, as it offers an easier and more efficient way to access and prescribe medicinal cannabis.

It is also possible that the drop in prescriptions was due to the public holidays during April, which may have impacted clinic hours.

We won't know for sure until next month's SAS-B prescription data is released or when the AP data is updated in July.

Avecho sleep study could fail before it starts

Avecho has failed to raise the $11 million in much needed funding for their upcoming sleep study. The money was going to finance Phase 3 trials of their over the counter low-CBD sleeping pill.

They’ve managed to scrape together $2 million.

Unfortunately for Avecho, investors have been spooked by recent failures of similar studies from Cann Group and Ecofibre, both of which failed to show any improvement over placebos.

The current economic environment makes it difficult for companies like Avecho to raise money and the Cann Group and Ecofibre failures only made this worse.

Avecho will use the $2 million to start administration for the Phase 3 and hope to raise the remaining $9 million from new and institutional investors.

Photos of People (or cats) Surrounded by Cannabis

This weeks Photos of People (or Cats) Surrounded by Cannabis comes to us courtesy of cannabis entrepreneur Koala Puffs.

She’s seen here literally surrounded by cannabis.

Good for you Koala Puffs.

If you'd like to see your photo in Photos of People (or cats) Surrounded by Cannabis share it with us on Twitter, Facebook, LinkedIn or Instagram.

Cannabis improves your wellbeing

In a shock to almost no one, 3000 medicinal cannabis patients have experienced improved scores on a widely used quality of life questionnaire.

The study looked at a variety of conditions including chronic pain, anxiety, insomnia, or cancer pain - and the results were impressive. Patients reported improvements across the eight areas of quality of life indicators, including social and emotional wellbeing.

There were no reports of anyone becoming a sloth, their brains turning into eggs, or deflating like a sad pool toy.

Little Green Pharma flying high (😉) in France

France has awarded Little Green Pharma as the primary supplier for their extended medicinal cannabis trial. The company will be providing 1:20 THC:CBD and CBD50 Oils to thousands of patients participating in the program.

The trial has been quite successful, with 91 percent of the 1453 patients reporting positive results.

Little Green Pharma's products have already gained a lot of attention across Europe, with customers in Denmark, the UK, Poland, Germany and Italy.

As part of the deal, Little Green Pharma will be supplying up to 11,000 units at 14 euro per unit. This trial has allowed 3000 patients to access free medicinal cannabis for refractory neuropathic pain, drug-resistant epilepsy, spasticity in multiple sclerosis.

The market in France is estimated to be worth 5.6 billion euros.

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That’s your walk through The Greenfields of the cannabis industry today. We hope you've enjoyed it.

We’ll see you again on Tuesday, but if you want more follow us on Twitter, Facebook, or LinkedIn.

DISCLAIMER: This newsletter is not financial advice. It is strictly educational and is not investment advice or a solicitation to buy or sell anything or to make any financial decisions. Please do your own research and do not buy anything dodgy.🌿