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CannPal Animal Therapeutics director acquires further shares on-market

Non-executive director Max Johnston now holds 200,000 shares in an indirect interest.
Dog and cat together
The cannabis-derived pain control drug candidate CPAT-01 is targeting cats and dogs

CannPal Animal Therapeutics Ltd (ASX:CP1) director Max Johnston has shown confidence in the company’s development of cannabis-derived medications for animals by acquiring shares on-market.

Johnson, a non-executive director, has this week acquired more than 35,600 shares with a total value of almost $5,000.

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

This takes the total number of shares held in indirect interest to 200,000 shares.

Last month Johnston acquired almost 64,400 shares with a total value of more than $9,000.

READ: CannPal Animal Therapeutics caps off busy September quarter

CannPal 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.

48 beagles and foxhounds enrolled

The phase Ib study for CPAT-01D is underway and the live phase is expected to be completed by the end of this quarter.

This study has enrolled 48 beagles and foxhounds of both sexes in wide weight and age ranges after clinical screening and examination.

At September 30 the company had a cash balance of $4.72 million, which was in line with budget forecasts and sufficient to continue with its research and development activities in subsequent months.

READ: CannPal Animal Therapeutics’ sponsor fee for lead animal drug candidate waived by US FDA

CannPal was founded by a team of experienced executives to establish a new standard of care in animal health by providing veterinarians with regulatory approved, Cannabinoid-based pharmaceuticals.

The company has identified an opportunity to develop first-in-class medicines for cats, dogs and horses, derived from the cannabis plant.

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CannPal Animal Therapeutics Ltd Timeline

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