CP1 - Cannpal Animal FPO SOI - 92m Top-20 - 71.5% Cash -6m Mkt...

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    CP1 - Cannpal Animal FPO
    SOI - 92m
    Top-20 - 71.5%
    Cash -6m
    Mkt Cap - 20m (at 22c & EV 14m)

    This stock is a medical cannabis play for animals which recently listed and yesterday traded above its IPO price of 20c for the first time in its listed history in its highest volume day in history also.

    Yesterday saw a bright light shine on the stock by way of a publication, however I feel this has given the stock a great opportunity to clear the decks given approx. 10m shares have changed hands between 19.5c & 22c since yesterday which is c. 40% of the free float.

    The company received ethics approval in late October for a clinical trial of their lead drug CPAT-01 in dogs. It is designed to help the relief of osteosarcoma in dogs (their most common type of bone cancer).

    CP1 has also partnered with Zelda Therapeutics (ZLD) which adds strength to their research & development capabilities.

    IMO now that a lot of the IPO flippers have left the building CP1 has an opportunity to stretch its legs.

    Technically once 22c clears & 22.5 trades, the stock is in blue sky. Finally, from my perspective, the light shined on the stock from the publication at worst provides a floor in the price which significantly improves the risk / reward calculation.

    As always DYOR.
 
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