The Zelda Therapeutics Ltd (ASX: ZLD) share price has had a fantastic start to the week and finds itself up almost 10% higher at 10 cents in early trade.
This means the medicinal cannabis-focused biopharmaceutical company's shares have now climbed 25% since this time last month.
Why are its shares higher today?
This morning Zelda's shares emerged from a trading halt with a positive announcement.
The company announced that it has entered into a research agreement with Children's Hospital of Philadelphia (CHOP) to study the pharmacology of cannabinoids.
According to the release, the research will leverage CHOP's extensive research infrastructure and focus on autism with an observational trial to better understand the efficacy of treatment in existing patients.
Management believes this initial study could lay the groundwork for a possible future clinical trial to generate high quality, robust, and acceptable data to validate the extensive positive anecdotal data amongst patient populations.
Ultimately, the company is optimistic that this study could become a key milestone in the ongoing study of cannabinoids in controlled and clinical settings.
The study is expected to commence in early 2018, with the preliminary results anticipated within six months.
Should you invest?
While I think Zelda is up there with Auscann Group Holdings Ltd (ASX: AC8), Creso Pharma Ltd (ASX: CPH), and Cann Group Ltd (ASX: CAN) as one of the best options in the pot stock industry, I feel there is a lot of growth built into its share price at the moment.
So for now I plan to keep it on my watchlist and watch on closely as things develop in 2018.
