What were the top ASX cannabis stocks of 2020? INN runs through the top five gainers and what moved their share prices.

Click here to read the previous top ASX cannabis stocks article.

As the Australian cannabis market continues its maturation process, companies in the space experienced a year of volatility punctuated by solid results.

Despite the global uncertainty of the last 12 months, the Australian cannabis industry saw terrific performances from some operators in the space.

Read on for a look at the five top ASX cannabis stocks by performance throughout the year. All figures were collected following the closing of the markets on December 15, 2020.

1. Incannex Healthcare (ASX:IHL)

Year-to-date gain: 183.33 percent; current market cap: AU$160.18 million; current share price: AU$0.17

Incannex Healthcare is focussed on the development of medicinal cannabis products. In 2020, the company placed an emphasis on the progress of its clinical trials. In the second half of the year, Incannex reached a point where cannabinoid products accounted for its entire revenue stream.

Joel Latham, CEO and managing director of the firm, said the company has a list of goals for both the short term and for a longer roadmap.

“Our long-term goal is represented by our multifaceted pharmaceutical research program being undertaken to pursue patents, and FDA registration, in up to 4 therapeutic products,” Latham said in an October update to shareholders.

2. Creso Pharma (ASX:CPH)

Year-to-date gain: 100 percent; current market cap: AU$130.43 million; current share price: AU$0.24

Creso Pharma is a company working on the development of cannabis- and hemp-derived therapeutic, nutraceutical and lifestyle products. The top ASX cannabis stock has diversified its interests on a global scale as it holds assets in Australia, Canada and even the US.

This year, the company continued expanding its global presence as it purchased a stake in the emergent Israeli cannabis space. Additionally, Creso Pharma obtained a second purchase order from a South Africa-based subsidiary of Lupin (NYSE:LUPIN).

The company saw some transition in its leadership team as Dr. Miri Halperin Wernli, co-founder and CEO, left the role to become technology, innovation and distribution head.

3. Bod Australia (ASX:BDA)

Year-to-date gain: 75 percent; current market cap: AU$47.66 million; current share price: AU$0.56

Bod Australia is a cannabis-centric company with a global focus. In 2020, the Sydney-based firm has seen its European presence increase thanks in part to a working relationship with Happiness Group (HKEX:1112). This business tie has brought market entries to the Netherlands and Italy for Bod’s products, and even a critical entry into the US cannabis space.

“We will continue to work with H&H Group and Swisse to explore opportunities throughout Europe and North America for our CBD and hemp products, which we are confident will unlock further value for shareholders,” Bod CEO Jo Patterson said in a statement.

4. Little Green Pharma (ASX:LGP)

Year-to-date gain: 71.43 percent; current market cap: AU$79.31 million; current share price: AU$0.60

This top ASX cannabis stock holds cultivation and distribution assets with product availability in the country and in overseas areas like the UK and Germany.

Little Green Pharma was one of the first new age cannabis operations to activate in Australia and endure up to this point. The company has been selling products for two years in Australia now.

“Armed with hard-won expertise and world-class facilities, (Little Green Pharma) stands poised to advance the Australian cannabis industry and become a truly global player,” Fleta Solomon, managing director of the company, said in the latest annual report to shareholders.

5. Zelira Therapeutics (ASX:ZLD,OTCQB:ZLDAF)

Year-to-date gain: 66.67 percent; current market cap: AU$104.72 million; current share price: AU$0.10

Zelira Therapeutics is a cannabis company with a distinct interest in high-grade medical research of cannabinoids for the development of new pharmaceutical products.

In 2020, the company dedicated time to advancing a few critical medical studies, including one evaluating the management of chronic pain with the ZTL-103 cannabis formulation on patients who have already had long-term, high-dose opioid treatments.

The company saw its offerings in Australia grow as the Therapeutic Goods Administration approved two new items from Zelira Therapeutics: the cannabinoid medicine Zenivol for patients with chronic insomnia, and HOPE 1 and HOPE 2, a pair of prescription medicines targeting autism spectrum disorder.

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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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