Bod continuing significant uptake of its MediCabilis product among Australian Patients.
Medicinal cannabis, CBD and hemp healthcare products
company, Bod Australia Limited (ASX: BDA) is pleased to advise that it is continuing to experience significant uptake of its MediCabilis™ product amongst Australian patients.
During April 2020, Bod filled 516 prescriptions, marking a 35% increase on March 2020 (March prescriptions: 382) and the Company's third-largest volume month on record. The large volumes generated in April leave Bod well positioned to exceed Q3 MediCabilis™ prescriptions, which totalled 1,099.
Following our recent market entry into the United Kingdom and through our participation in Project Twenty21, we anticipateJo Patterson CEO
that prescription volumes will continue to rise.
Bod has now filled a total of 3,459 prescriptions in FY2020, which has added significantly to the Company's growing revenue profile. This upward trajectory in prescription volumes clearly demonstrates MediCabilis'™ traction in the Australian market with a wide range of new and repeat
patients utilising the product.
Repeat prescriptions for April accounted for 60% of the month's total volume. Pleasingly, the amount of repeat prescriptions achieved each month is increasing and the Company is confident this will continue as volumes grow.
While MediCabilis™ is prescribed for a range of conditions, the top four indications that patients are using the product for is chronic pain, seizure management, neuropathic pain and anxiety.
Continued growth in prescription volumes across the remainder of FY2020 and beyond is anticipated following Bod's entry into the United Kingdom and participation in Europe's largest medicinal cannabis registry, Project Twenty 21.
Further, the Company expects that recently launched CBD isolates in varying strengths will further underpin volumes, as each product allows Bod to pursue an additional 46% of the prescription market in Australia.
CEO Jo Patterson said: "Achieving 516 MediCabilis™ prescriptions and a strong repeat purchase rate in April is a great result for Bod and we are pleased with the steady increase in sales. "
"The increase in volumes and the Company's recent expansion into the UK leave Bod well positioned to potentially deliver its largest volume quarter of medicinal cannabis sales ever."
"We continue to enjoy strong demand for our MediCabilis™ product range amongst patients in Australia and the United Kingdom and I look forward to updating shareholders on ongoing product uptake across the coming months."
To learn more about Bod Australia, visit the company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
& Keep Up to Date
Get the latest pot stock recommendations, cannabis news
and industry updates straight to your inbox!