Australia's Little Green Pharma jumps on expansion into psychedelic drugs

Little Green Pharma

07/09/2021 03:36

** Shares of medical cannabis producer  LGP.AX  rise as much
as 7.2% to A$0.820, on track for best day since July 13
    ** Co says Western Australia Department of Health has
granted LGP a licence for supply of psilocybin, a psychedelic
prodrug compound produced by several species of fungi
 urn:newsml:reuters.com:*:nASX5y6tfC
    ** Says it has established a special purpose unit to conduct
its psychedelic business and is progressing plans to manufacture
psilocybin from its WA production facility
    ** Stock hits its highest since July 29, on track for a
second consecutive session of gains 
    ** About 1.1 mln shares change hands vs 30-day avg of
380,283 shares 
    ** Stock up 35.4% this year, as of last close 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))