CAN (ASX) Ann: Cann to begin recruitment for CBD phase 3 clinical trial

Originally posted by amb005: ↑

Fair post, good character here not going down personal attacks apart from saying I "made a silly comment." Which I got to say I could reflect that back at you for a lot of your comments.

I get what their business model is, this Satipharm story is just a new addition and holders like yourself are grabbing onto this and forgetting the elephant in the room of the 150 million spent on the greenhouse , thats what the issue is here. Satipharm only cost $4 million, they have spent $176 million, less than 2.5% of spending was on buying satipharm. If satipharm story is a huge component and key companent, they didnt need to spend 176 million, they woud have had all the IP and a small lab for less than $10 mill. But CAN continues to throw money into the sink hole of cultivation.

I dont think its really subjective to say that they made a huge mistake with the Mildura facility. The mildura facility is mainly a cultivation plant, thats where the costs have been sunk, very small percentage of that facility is going towards Satipharm products, the costs and plans were already in before they even had bought Satipharm IP.

Fact is CAN made a mistake building this facility, as the price of dry flower more than halved since they made these plans and were forcasting revenue of $220m - $280m. Thats when the plans for the building were made and what it was built for. Time has shown this was the wrong call, and they continue to go over budget and over timelines chasing this model, and are trying to spin another narrative with the Satipharm that you guys are buying, so cudos to CAN it works on some investors.

As I said CAN would be better off pivoting to a pharma only, their cultivating is just a big sink hole for holders, huge waste of cash, especially when you have outdoor growers growing at fractions of the price, and other better indoor operators in Australia.

If you are saying the business model is based around the pharma, then CAN really is not in a unique position, other ASX listed companies, pharma companies using CBD compounds and a further ahead like MDC (thats already getting more revenue than CAN and further ahead in the trials both here and overseas), EOF, BOT, ZLD. So all this talk about CAN being first and biggest, is just not true, other companies spending a lot less and getting more rev than CAN because they arent wasting money on the cultivation side.

Lets see if they answer questions about funding for 2022 tomorrow. I doubt they will answer.

Im not saying CAN has lied here about the trials, they have not said they have started trials, in fact its been worded in a way that says they have not started any trials. It was only you on these threads that said CAN was well ahead with these trials. Apparently starting in March if they get approved. Lets see if they can answer that question tomorrow, does CAN have any active TGA clinial trials?

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Fair post also, 'the silly comment', comment was not appropriate its the passion of the argument. You opinion felt to me like you just had no real idea about CANN's business plan, you post was a fair assessment though. Only time will tell with Mildura and I won't go into a huge discussion on something we have discussed before.

You say MDC is further than CANN in the trials, have they started their Phase 3 trial a requirement to get S3 approval? Have any companies you mentioned started this trial? Otherwise they are not further than CANN.

From what I can find CANN currently has no active trials in the sense we are talking they are conducting preliminary trials with research partners. They have a few completed trials under their belt and a couple came along with the Satipharm product. When I said well ahead I meant they are first company I have seen push a Phase 3 trial. That's why I asked if MDC has one going at the moment I couldn't find it on a quick search/.