By Elena Vardon
Shares in Oxford Cannabinoid Technologies Holdings rose Monday after the group said it is expanding its research and development strategy into oncology as it identified an immunotherapy agent for the treatment of solid tumours.
At 0718 GMT, shares were up 0.10 pence, or 12%, at 0.93 pence.
The pharmaceutical company said initial data shows potential for the development of a cannabinoid-based medicine that could be taken as a tablet at home.
It will now focus on more in vitro and in vivo studies, followed by a safety-pharmacology assessment before final candidate selection which will likely take place during 2024, it said.
The group will use existing cash resources to fund this work, the company added.
Write to Elena Vardon at [email protected]
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