The Althea Group has had another monster week, as it remains on track to hit 4,000 patients by 31 December, 2019.
The Australian medicinal cannabis company, Althea Group Holdings Limited (ASX:AGH), hit a huge product uptake milestone today, after it officially reached 3,000 patients.
However, this is hardly surprising, as Althea has been experiencing tremendous patient growth recently, adding 486 new patients in October alone.
There are up to 357 Healthcare Providers who have now prescribed Althea cannabis products, giving the company a year-on-year growth rate of 2,100 percent.
According to the CEO of Althea, Josh Fegan, "it is hard to believe that just over a year ago Althea medicinal cannabis products had only been prescribed to 127 patients."
"We have seen phenomenal growth since then and are very pleased to have now passed the 3,000-patient milestone. We are replicating our Australian strategy in the UK and German markets and expect to see similar patient growth trajectories in due course."
"Althea is in a market leading position due to our brand recognition and high value proposition which resonates with doctors and patients alike."
"The company remains fully funded and on track to deliver Australian manufactured Althea products in 2020, as well as supporting our international expansion," Fegan said.
Althea's expanding patient base has been driven by the continued uptake of its cannabis education programs—and Althea Concierge, its proprietary technology platform—along with the overall increase in Special Access Scheme (SAS) applications.
As a result, the company has been enjoying continued and sustained growth over the past twelve months, which saw its prescription base from 2,815 patients at the end of October to 3,031 just a few weeks later.
At this rate, the company remains on track to reach its next major milestone of 4,000 patients by 31 December, 2019.
Additionally, the company expects to see sales from its recently announced high strength full spectrum CBD product to continue increasing patient numbers.
To learn more about Althea Group visit their Company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
Disclaimer: past performance is not an indicator of future performance
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