Medlab quarterly revenue up 135%

LISTED cannabis and nanotechnology company Medlab has announced strong growth for the last quarter with total revenue in excess of $3 million for the quarter, representing 135% increase on the same quarter last year.

The quarter’s performance pushed the year-on-year growth to 50%.

The ASX announcement attributed the growth to research-driven product development and increased commercialisation activity.

The gut/depression program is progressing steadily, and a second NanaBis trial now has Human Ethics Approval and will be conducted at the Royal North Shore Hospital.

Ongoing research with both NanaBis and NanaBidial are yielding “strong encouraging results,” the company said.