AusCann tracks best day in more than a year on veterinary drug progress

Auscann group

08/02/2022 02:33

** Shares of the medicinal cannabis firm  AC8.AX  soar as
much as 27.1% to A$0.089, post their biggest intraday pct gain
since December 2020 
    ** Australian co says it has received its Memorandum of
Conference (MOC) from the U.S Food and Drug Administration,
Centre for Veterinary Centre for drug CPAT-01  urn:newsml:reuters.com:*:nASXbjmP8b
    ** Co says MOC provides formal guidance on the development
programme and regulatory pathway for the approval of CPAT-01 as
a veterinary medicine in the United States
    ** Drug targets to control pain and inflammation in dogs
with osteoarthritis; global veterinary pain management market is
worth over $1 bln
    ** Shares hit their highest level since Nov. 25 
    ** More than 1.18 mln shares change hands, compared with the
30-day average volume of ~364,000 shares  
    ** Stock down 13.6% this year, as of last close

 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))