CannPal Animal Therapeutics (ASX:CP1) issued an update to shareholders on its development during its quarter period, which ended on September 30, 2019.

As quoted in the press release:


Corporate

The company had a cash balance of AU$2.78m with operating outflows totalling AU$519,000 for the quarter, with AU$370,000 related to the costs associated with the research and development of the company’s lead pharmaceutical and nutraceutical drug candidates.

CannPal continues to remain well capitalized for FY20, providing the runway required to reach key milestones previously communicated to the market.

CannPal’s Founder and Managing Director, Layton Mills:

It has been another strong quarter for CannPal and we continue to remain funded to reach key milestones previously communicated to the market.

Click here to read the full press release.

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