Oxford Cannabinoid Technologies Holdings PLC (LSE:OCTP, OTCQB:OCTHF) (OTCH) shares rose again after it confirmed recruitment for a phase 1 trial of its lead pain relief would start immediately after the MHRA and Welsh agency REC 2 gave their approval.
OCTP will conduct the trial in healthy volunteers, with a single ascending dose protocol to test tolerability and safety.
OCT461201, the drug candidate, is a cannabinoid-based pain reliever that has been shown to help patients suffering chemotherapy-induced peripheral neuropathy as well as irritable bowel syndrome.
Clarissa Sowemimo-Coker, chief executive, said: “Getting OCT461201 into the clinic so soon after our listing is a huge achievement.”
Shares in standard market listed OTCP added 6% or 0.08p to 1.33p, to make a more than 100% rise since early December.