Bullfrog AI Holdings, Inc. (NASDAQ:BFRG) shares are trading higher on continued strength Tuesday after the company announced a commercial agreement on Monday with a top five global pharmaceutical company to apply its proprietary bfLEAP platform to identify and prioritize novel drug targets in major depressive disorder.

Agreement With Top Pharma Company Targets MDD Drug Development

BullFrog said the agreement will utilize its end-to-end analytical AI platform to accelerate the partner's drug discovery and clinical development program for MDD.

The company noted the agreement also provides exclusive access to a target candidate identified through its platform.

BullFrog said the collaboration serves as third-party validation of its proprietary capabilities and could expand across additional areas of the partner's research and development portfolio.

The company added that its integrated bfLEAP, bfPREP and bfARENAS platforms leverage causal network inference to help drug developers identify and prioritize targets for complex diseases such as major depressive disorder.

BullFrog said additional details of the agreement will be included in a Current Report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.

Bullfrog Shares Trade Higher

BFRG Price Action: At the time of publication, Bullfrog shares are trading 17.17% higher at $1.23, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.