The psychedelics space is up and running. Together with the start of the new year, two companies have shared their latest financial decisions toward advancing their medical business programs.
The partnership leading the way on psilocybin therapy for Fragile X Syndrome (FXS), the major genetic cause of Autism Spectrum Disorder (ASD), has received approval from Health Canada in the form of a No Objection letter and is set to proceed with the first-ever Phase 2a clinical trial on the magic mushrooms therapy for this condition.
Ayahuasca Pill Is Officially Here, Filament CEO Discusses Future Plans
The first medical-grade drug candidate of the psychedelic ayahuasca is being developed.
Psychedelics biotech Small Pharma Inc. (OTCQB: DMTTF) confirmed that the first patient has been dosed in its Phase 1b study assessing the interaction between selective serotonin reuptake inhibitors (SSRIs) and proprietary lead DMT candidate SPL026 in patients with Major Depressive Disorder (MDD).
Psychedelics company Clearmind Medicine Inc. (NASDAQ: CMND) aims to bring its proprietary compound, CMND-100, to clinical trials while developing additional proprietary psychedelic compounds for next-generation novel drug candidates, according to CEO Adi Zuloff-Shani.
Psychedelics biotech Awakn Life Sciences Corp. (OTCQB: AWKNF) shared its financial results and business highlights for a three-month period that ended Oct. 31, 2022.
Financials showed: