The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has been a standout performer on the Australian share market on Thursday. In morning trade the clinical stage cannabinoid company’s shares rocketed 25% higher to an all-time high of 17.5 cents.

Why did the Botanix share price rocket higher today?

Hot on the heels of a positive update on its BTX 1308 psoriasis Phase 1b mechanism of action study on Wednesday, this morning the company released an update on its BTX 1801 antimicrobial product.

According to the release, the company has received positive new data from studies recently conducted at The University of Queensland’s Institute for Molecular Bioscience’s Centre for Superbug Solutions.

Canadian retailer Compass Lifestyle Clinic has opened up a dispensary in Sydney in a bid to capitalize on the underserved Australian patient demand for medicinal marijuana.

Compass was only founded last year, but it has already opened two clinics in British Columbia and six in Alberta. Another six Alberta clinics are coming soon, which will significantly boost its presence in Calgary and Edmonton.

Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE:APHA) announced that the Company has completed its second shipment of approximately 80 L (equivalent to approximately 20 kg of dried bud) of medical cannabis to its Australian-based partner Althea Company Pty Ltd.("Althea").

International treaties, Health Canada ban on imports restrict supply from abroad.

Licensed cannabis producers are ramping up production to get ready for legalization of marijuana in Canada this year, but are also bracing for demand to far outstrip supply because of restrictions on imports.

Health Canada forbids licensed producers, which will be the only authorized sellers of marijuana to provincial governments, from importing any cannabis for sale, regardless of whether the purchase is for medical or recreational purposes.

The only cannabis imports that the department allows are those classified as genetic material for licensed dealers that conduct research and testing.

The top performing OC Micro-Cap Fund has said cashed-up Cann Group Ltd (ASX:CAN) has “myriad opportunities” in the fast developing medical cannabis industry, saying the company has “a clear path to profitability.”

After getting licence to export medical cannabis, company plans 1st shipment to Australia.

Organigram, the Moncton-based medical cannabis company, is taking its business international, which could mean more jobs in New Brunswick down the road. 

The company has received a licence from Health Canada to export its products.

Organigram said it plans to send its first shipment to Australia next week.

It also recently signed a contract for an equity stake in a German medical cannabis company.

Ray Gracewood, chief commercial officer for Organigram, told Information Morning Moncton the international market presents a "massive" opportunity to grow the company.

Canopy Growth Corporation (TSX: WEED) ("Canopy Growth" or the "Company") is pleased to join the Victoria State Government in announcing the launch of the newest member of the Canopy Growth family, Spectrum Cannabis Australia ("Spectrum" or "Spectrum Australia").

Minister for Agriculture, the Hon. Jaala Pulford, alongside Ben Quirin, Managing Director of Spectrum Australia, announced the Company will invest up to $16 millionAUD (~$16 million CAD) in the State of Victoria over the next four years to establish Spectrum's Asia-Pacific (APAC) headquarters and research and development facility.

In a much friendlier regulatory environment than the United States, new Canadian cannabis companies are already going international in a big way.

North of the border, cannabis was legalized nationwide in Canada, and the legal sale of cannabis is imminent, while in the United States a patchwork of state-level marijuana laws and a strongly anti-cannabis attorney general complicate business.

With an expected $22.6 billion market projected in Canada alone, Canadian companies already have a significant head start, and that could be just the beginning as they take their operations abroad.

Aussie company Botanix is developing the first new acne treatment in 20 years that aims to fight pimples using a synthetic version of cannabidiol.

However, it won’t give teens a high because it uses the nonpsychotropic molecules of cannabis.

Botanix yesterday reported to the Australian Stock Exchange its first safety study on humans of the cannabis compound BTX 1503.

The study found the compound “has an excellent safety profile, with little to no skin irritation and no severe adverse events were recorded”.

The most common adverse effect was skin dryness.

An Israeli company will partner with an Australian one to help boost clinical education opportunities around medical cannabis. The two companies, iCAN: Israel-Cannabis and Melbourne-based LeafCann have announced a joint-venture to collaborate on a range of initiatives including medicinal cannabis research, product development, and education.

The venture will be called iCAN: Australia, and, according to LeafCann Group CEO Jaroslav Boublik, the companies will “develop global clinical education initiatives to bridge the gap between public demand and practitioner education.”