Therapix Biosciences shares surge 6% on preclinical results for cognitive impairment therapy
Therapix Biosciences Ltd. (TRPX.TV) shares surged 5.8% in premarket trade Wednesday after the company said preclinical trial results looking at the company's THC drug candidate in mice found that very low doses of THC "could potentially provide a safe and effective treatment for cognitive decline in aging humans," according to Professor Yosef Sarne of the Sackler Faculty of Medicine at Tel Aviv University, who designed and conducted the study. Company shares closed at $5.49 on Tuesday. Therapix Biosciences' drug candidate, THX-ULD01, is an ultra-low dose THC drug; very low doses of THC -- the hallucinogenic in cannabis -- are "devoid of any psychotropic effect," Sarne said. In the preclinical trial, the positive effect of THC lasted seven weeks, the company said. The company plans to follow the preclinical trial up with human trials. Therapix Biosciences shares have plummeted 18.7% over the last three months, compared with a 3.2% rise in the S&P 500 .
-Emma Court; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires