Zelira Therapeutics saw its share price surge by more than 60% after the Australian and US Governments granted the company patents covering its HOPE medications.
Zelira called the development a "significant milestone".
Each patent has a term of 20 years.
Zelira global chief executive Dr Oludare Odumosu said: "This achievement not only strengthens our innovative efforts in treating ASD but also bolsters our ongoing drug development and clinical validation initiatives."
Zelira shares climbed 62%, reaching $1, before pulling back 6% in early trading today.
Argent Biopharma
Argent Biopharma has brought in an additional US$2 million (A$2.96m) through its second share placement in fewer than three weeks.
The company issued 2.5 million ordinary shares to participants at US$1.20 (A$1.80) each, a price nearly 400% above the 15-day average.
The funds raised will go toward advancing Argent's CannEpil and CimetrA drug development program across the US and EU.
