Quarterly Activities Report and 4C – to 31 March 2023
Today Avecho (ASX:AVE) has published its Quarterly Activities Report and 4C Quarterly Cash Flow Report for the period ended 31 March 2023.
Key highlights from this period include:
- Pivotal Phase III clinical trial ready to commence – a major study, the largest of its kind in Australia, to test Avecho’s proprietary CBD soft-gel capsule for the treatment of insomnia.
- Entitlement Offer to shareholders to raise ~$11M in progress.
- Expansion to key commercial and research partnerships with up to seven clinical trials in 2023, including internationally recognised work underway with the Lambert Initiative.
- Cannabinoid portfolio expanded to include edible products.
Avecho CEO Dr Paul Gavin said:
“We are pleased to be entering Phase III of the clinical development process of our TPM®-enhanced CBD soft-gel capsule – a crucial step towards regulatory approval. We’ve spent the last 12 months planning our sleep study, which has been strategically designed to mitigate the placebo effect observed by our peers, and to give our Company the best chance at success. This will be a significant milestone for Avecho in Australia, but also has the potential to open doors to new markets and indications globally.”