UK's Oxford Cannabinoid Technologies gains as unit OCT renews licence

Oxford Cannabinoid Technologies Holdings

12/04/2023 10:54

** Shares of Oxford Cannabinoid Technologies Holdings Plc  OCTP.L  climb as much as 12.6% to
1.239p, stock among top pct gainers across London shares
    ** The biopharma company focused on developing cannabinoid medicine combinations says its
unit OCT had its UK Home Office Licence renewed for the fifth consecutive year 
    ** Co says licence permits OCT to possess and supply Schedule 1 drugs for research purposes
    ** OCTP says progress towards the commencement of Phase I clinical trial for its lead drug
candidate, OCT461201, continues 
    ** Co also confirms appointment of Clarissa Sowemimo-Coker as permanent CEO, effective
immediately
    ** Including session's gains, stock up about 38% YTD

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))