CannPal Animal Therapeutics Ltd (ASX:CP1) non-executive director Robert Johnston has purchased 100,000 shares through on-market trades.
The purchase amounted to $11,911.86 and increased Johnston’s total holding in the company to 300,000 shares.
READ: CannPal Animal Therapeutics sees lucrative opportunity in cannabinoids-based animal health market
CannPal intends to transition from research & development (R&D) to a commercialisation phase as it prepares the trial design for a phase 2A study of its cannabinoid development therapeutic CPAT-01 in animals.
The company's lead drug candidate is a cannabis-derived canine pain and inflammation medication.
Last month, CannPal received two key ethics approvals to progress the research and development of its lead therapeutic products, CPAT-01 and DermaCann.
CPAT-01 is a pain and inflammatory control being developed for dogs and DermaCann is a nutraceutical product in development to promote canine skin health.
CannPal hopes to complete recruitment for both studies by mid CY2019.