While most ASX companies already have products sold in the market and have built sales traction, there are also companies that are still preparing for market launch.
Here I’ve listed down three ASX small cap companies that are preparing to launch their products to the market in 2021.
Creso Pharma Ltd (ASX: CPH)
Cannabis producer Creso could gain from major changes in the global cannabis industry, following landmark decisions to decriminalise the drug.
Earlier this month, the United Nations announced a landmark decision to reclassify cannabis as a less dangerous drug.
That decision will see the UN Commission on Narcotic Drugs withdraw cannabis from Schedule IV classification. Schedule IV substances are considered the most dangerous and addictive drugs.
A week later, the United States House of Representatives passed a historic bill to end a federal ban on marijuana, which will effectively clear the way to erase non-violent federal marijuana convictions.
On 15 December, Australia’s Therapeutic Goods Administration (TGA) announced its final decision to allow low-dose cannabidiol (CBD) containing products, up to a maximum of 150 mg/day, for use in adults, to be supplied over-the-counter by a pharmacist, without a prescription.
Creso has said that the company is well positioned to take advantage of all these major changes in 2021 and beyond.
The Cresco share price is up by 38% for the year, but it’s risen by an incredible 260% in one month after the rulings were announced.
Rhythm Biosciences Ltd (ASX: RHY)
Medical technology company Rhythm Biosciences has had a fantastic 2020, with its share price returning over 600% for the year.
Driving the share price move is its one and only product ColoSTAT, which is the first proposed product ever intended as a test for the early detection of colorectal cancer.
According to the company’s recent presentation, the colorectal cancer screening market for the 50 – 74 year old population is worth roughly $38 billion.
The company has been making progress in its preparation to bring ColoSTAT to the market.
In early December, Rhythm Biosciences revealed that it has appointed France-based Biotem as the global manufacturer of its ColoSTAT test-kit. It was then granted a United States patent for ColoSTAT just two weeks ago.
Rhythm Biosciences said that small-scale manufacturing of ColoSTAT prototype test-kits has commenced.
These initial batches of test-kits will then undergo quality assurance and ongoing product verification.
They will then be used for testing on cancerous and healthy blood samples, forming Study 6, which is on track for completion by the third-quarter of FY21.
The year 2021 could indeed be an interesting one for Rhythm Biosciences.
Weebit Nano Ltd (ASX: WBT)
Weebit Nano develops next generation computer memory technology.
The Weebit Nano share price has been on fire in 2020, returning over 500% for the investor, amid optimism around the company’s potential commercialisation of its memory technology in 2021.
The company has secured a few patents related to its technology, with the latest one being for its Silicon Oxide (SiOx) ReRAM product.
To prepare for market launch of ReRAM, Weebit Nano has raised $15 million of capital in recent months. The money will be used to strengthen its sales team and increase marketing activities ahead of the product launch in mid-2021.
Weebit claims that its ReRAM product is cheaper, faster, and more energy efficient than the existing Flash technology. The company touts ReRam as an emerging memory technology that combines the advantages of both RAM and Flash, and believes its commercial usage will increase dramatically over the next few years.
It will be interesting to see how the market will react to the product, as that will determine how the Weebit Nano share price will perform in 2021.
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More reading
- Why the Rhythm Biosciences (ASX:RHY) share price jumped over 600% this year
- Why the Weebit Nano (ASX:WBT) share price surged 12% today
- Why the Creso Pharma (ASX:CPH) share price is jumping 9% higher
- The Rhythm (ASX:RHY) share price is surging 5% higher today. Here’s why.
- Creso Pharma (ASX:CPH) share price lower despite supply agreement news
Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Here are 3 ASX small cap shares with exciting product launches in 2021 appeared first on The Motley Fool Australia.
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