Proactive Investors - Run By Investors For Investors

CannPal Animal Therapeutics caps off busy September quarter

The company had a healthy cash balance of $4.72 million at the end of the quarter.
dog with cannabis leaf
The company is researching the benefits of medical cannabis for dogs and cats

CannPal Animal Therapeutics Ltd (ASX:CP1) has had a busy September quarter entering two research agreements and advancing its lead cannabis-derived drug candidate CPAT-01.

CPAT-01D, a pain treatment for dogs, received ethics approvals and the CPAT-01 development program was expanded to include cats CPAT-01C.

The phase Ib study for CPAT-01D has commenced and is expected to be completed this December quarter.

READ: CannPal Animal Therapeutics commences dog pain control study

CannPal's managing director Layton Mills said: “This has been another important quarter for CannPal with some significant milestones.

“Our additional research agreements are further validation of the high-quality research we are undertaking in our mission to develop cannabis-derived treatments for companion animals.

“In addition, the rapid progression of our clinical studies and development of our nutraceutical pipeline underscore our commitment to delivering value to our shareholders.”

Solid end-of-quarter cash balance

CannPal had a cash balance of $4.72 million in line with its budget forecasts and sufficient to continue with its research and development activities in the coming months.

READ: CannPal Animal Therapeutics director shows confidence in company’s cannabis-derived animal medications

Earlier this month, director Max Johnston demonstrated his confidence in the company’s cannabis-derived medications for animals by acquiring shares on-market.

Johnston, a non-executive director, acquired almost 64,400 shares with a total value of more than $9,000.

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full CP1 profile View Profile

CannPal Animal Therapeutics Ltd Timeline

Related Articles

RYAH vaporizer and cartridges
May 16 2019
RYAH is the first cannabis vaporizer that lets users precisely regulate dose and temperature
cannabis facility
January 23 2019
The company is breaking into the large and lucrative market in the golden state
cannabis plan in sun
February 21 2019
The cannabis company will manufacture, infuse and package branded recreational and wellness products
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use