This article was originally published on Microdose and appears here with permission.
The psychedelic medicine industry has been growing at an impressive rate. Big players like Atai (NASDAQ:ATAI) have joined the ranks, adding billions of dollars of investor interest; and smaller upstarts likeFilament HealthandLevitee Labshave made their public debuts, adding a diversity of approaches to the space.
All this expansion makes it easy for some companies to get lost in the shuffle. One such firm going somewhat under the radar is Pharmather Holdings Ltd (OTC:PHRRF).
But perhaps we should be paying closer attention. As the industry focused on big-name news, PharmaThers stock price has been on a low-key moon run these last few months. Between end-April and end-July the companys stock price soared approx 375% (from $0.24 to a high of $1.14), before settling down in the $0.90-$1.00 range.
Why the sudden jump? What has the market seen in PharmaTher that we should perhaps know about?
Lets use the companys recent end-of-year financial highlights to help take a closer look.
This week PharmaTher released business and financial results for its fiscal year ended May 31, 2021. Lets have a look at some of the highlights (all figures in Canadian dollars and information taken from thecompanys press release)
This seems to bethe newsthat got the stock rolling. Announced in mid-May, this approval to begin Phase 2 clinical trials moved PharmaTher into an elite group of companies in advanced clinical trials. The positive price movement started around this time.
Theannouncement of this saleseemed to signal that PharmaTher was going to focus on its strengths, which at the moment are its ketamine treatments and delivery technologies. The move gave them a good chunk of cash and was a bold move considering how popular psilocybin development is. So far it seems to have paid off.
All of the above are further proof of the company focusing its efforts on advancing its current stable of promising products. While a diverse pipeline is important, so is showing results and getting a product to market.
Here are some other announcements that came after the firms year-end:
It seems the company has a good working relationship with the FDA and is taking advantage of the agencys positive view of ketamine. Another Phase 2 trial for something as big as depression would be major news.
From Fabio Chianelli, Chief Executive Officer of PharmaTher: Receiving FDA orphan drug designation is a massive validation for ketamine as a potential treatment for ALS, and it allows us to confidently proceed in evaluating ketamine in phase 2 clinical study in patients suffering from this life-threatening disease. This designation not only expedites our regulatory, clinical, and product development plans but also validates our belief in the potential of ketamine as a therapeutic solution for neurological disorders.
Cash on hand gives them about another year of capital (if spending stays relatively the same). This is a bit light and you can probably expect another capital raise soonsomething the recent jump in stock price will help with.
Overall it seems PharmaTher is making solid progress, focusing on its best products, and building itself into one of the leaders in ketamine development. And for now, the markets seem to agree.
Perhaps its time to keep a closer eye on this company. Stay tuned to Microdose for more.
See more here:
- Psychedelics can change humanity for the better. Its time ... - January 9th, 2022
- 'Microdosers' of LSD and magic mushrooms are wiser... - Daily Maverick - January 9th, 2022
- Core One Labs Now Also Working to Biosynthesize DMT and Receives License - Financial Post - January 9th, 2022
- NeonMind to Present at H.C. Wainwright Bioconnect Conference - Yahoo Finance - January 9th, 2022
- Magic mushroom companies are on the Nasdaq now. Thats a recipe for a bad trip - The Guardian - January 7th, 2022
- Psilocybin therapy options could expand in Hawaii | Hawai'i Public Radio - Hawaiipublicradio - January 7th, 2022
- From psychedelics to 'The Great Resignation' - wellness trends for 2022 - CapeTown ETC - January 7th, 2022
- Ketamine, Psilocybin and the Rise of Missouri Psychedelics - Riverfront Times - December 25th, 2021
- Animals That Eat Psychedelics And Enjoy The Trip - Benzinga - Benzinga - December 25th, 2021
- Bad Hug - The Cut - December 25th, 2021
- How Seeing God Might Be The Secret To The Most Cutting-Edge Mental Health Treatments - Forbes - December 25th, 2021
- Happy Holidays From The Dales Report Team - The Dales Report - December 25th, 2021
- GOP Lawmakers File Bills To Streamline Research Into Marijuana, Psychedelics And Other Schedule I Drugs - Marijuana Moment - December 22nd, 2021
- Meet Zappy Zapolin, The Psychedelic Concierge Who Turned Lamar Odom On To Ketamine - Forbes - December 22nd, 2021
- Numinus Wellness inc: Leading in the psychedelics race - Proactive Investors UK - December 22nd, 2021
- When Aldous Huxley Opened the Doors of Perception - The MIT Press Reader - December 22nd, 2021
- Kratom Attracts Investor Attention After Regulatory Win - Bloomberg - December 22nd, 2021
- Two esteemed doctors join CB Therapeutics in its exploration of innovative approaches to the production of novel psychedelics and cannabinoids so... - December 22nd, 2021
- Revenge travel and psychedelic retreats: The travel trends taking flight in 2022 - AsiaOne - December 22nd, 2021
- Cybin Awarded Notice of Allowance from US Patent and Trademark Office for CYB004 (Deuterated Psychedelic Tryptamine) for the Treatment of Anxiety... - December 15th, 2021
- TGA blocks bid to have MDMA, magic mushrooms used to treat mental health conditions - ABC News - December 15th, 2021
- PharmaTher Announces Positive Research Results for LSD Microneedle Patch - Yahoo Finance - December 15th, 2021
- MDMA could soon be used to treat PTSD according to physicians - Mixmag - December 15th, 2021
- MindMed Appoints Robert Barrow as Chief Executive Officer and Director - Yahoo Finance - December 15th, 2021
- MAPS and Wesana Health Resume Negotiations - GlobeNewswire - December 15th, 2021
- Sex, psychedelics and murderous impulses: Do we know too much about Will Smith? - The Independent - November 7th, 2021
- PharmaDrug commissions TIBI for advancing psychedelics program with analogue DMT formulation to cure eye diseases - Proactive Investors USA - November 7th, 2021
- I Have $1,000. Should I Invest In Cannabis, Crypto Or Psychedelics? - Benzinga - Benzinga - November 7th, 2021
- Psychedelics Could Be New Frontier in End-of-Life Care - Hospice News - November 5th, 2021
- Detroit just decriminalized psychedelics and magic mushrooms. Heres what that means - PBS NewsHour - November 5th, 2021
- Psychedelics linked to lower risk of heart disease and diabetes - Medical News Today - November 5th, 2021
- The people turning to psychedelics on their deathbeds - The Independent - November 5th, 2021
- Psychedelic Therapy Is Hyped, But Its Not Risk-Free: How Therapy Abuse Can Retraumatize Clients - Forbes - November 5th, 2021
- Defeating Gambling Addiction: New Study Looks To Defy The Odds With Psychedelics - Forbes - November 5th, 2021
- This Psychedelics Unicorn's Stock Is Up 50% In One MonthBeating Bitcoin, Ethereum And Dogecoin - Benzing - Benzinga - November 5th, 2021
- This Psychedelics Stock Was Up More Than 20% Last Week, Outperforming Tesla, Nvidia and GameStop - Benzinga - November 5th, 2021
- Biglaw Associate Is Advocating For Therapeutic Use Of Psychedelics And The Firm Is Backing Him Up - Above the Law - November 5th, 2021
- Easthampton is the fourth city in Mass. to vote to decriminalize psychedelics - WBUR - October 24th, 2021
- There Could Be a Curious Link Between Psychedelics And Improved Heart Health - ScienceAlert - October 24th, 2021
- How Atai Is Transforming The Landscape Of Mental Health Using Psychedelics (Part 2) - Forbes - October 24th, 2021
- A recent history of therapeutic psychedelics - Toronto Life - October 24th, 2021
- New Research Hints at a Link Between Psychedelics and Improved Heart Health - The Swaddle - October 24th, 2021
- Why Ketamine-Assisted Therapy Has Gone Mainstream - Forbes - October 24th, 2021
- Ketamine and psilocybin, better known as party drugs, showing promise for treatment of mood disorders - CTV News - October 24th, 2021
- Recent progress in psychedelic therapies - Lexology - October 24th, 2021
- Miracles and medication: The new science of psychedelic drugs - Stuff.co.nz - October 24th, 2021
- UAB researcher granted federal funding for psilocybin and smoking study - The Mix - October 24th, 2021
- Yale researchers using psychedelics to find new treatments for depression - WTNH.com - September 17th, 2021
- Want Quick Exposure To The Psychedelics Sector? Check Out This New Active ETF - Benzinga - Benzinga - September 17th, 2021
- 5 things to know about the Ann Arbor psychedelic shroom fest - MLive.com - September 17th, 2021
- Differentiated Approach in Psychedelics Boosts Confidence in Upcoming Clinical Trials for Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) -... - September 17th, 2021
- Psychedelics research and public education elevated by multiple gifts - UC Berkeley - September 16th, 2021
- Pain Awareness Month: Psychable Educates Patients on Transformative Power of Using Psychedelics as Medicine for Pain Treatment, Management and Healing... - September 16th, 2021
- $80 Million Granted to Research Psychedelic Properties of Ingesting Toad Venom - Newsweek - September 16th, 2021
- Psychedelic Use on the Rise As Gen Z Seeks To Enhance Connectedness - VICE UK - September 16th, 2021
- Phyto Partners Cannabis VC on Why He's Investing in Psychedelics - Business Insider - September 16th, 2021
- Detroit Voters Will Decide On Psychedelics Decriminalization Ballot Measure In November - Marijuana Moment - September 16th, 2021
- Seattle bid to decriminalize psychedelics could have profound effect on treating addiction - MyNorthwest.com - September 16th, 2021
- Post-9/11 vets go to Mexico to treat trauma with psychedelic - The San Diego Union-Tribune - September 16th, 2021
- Lobe Sciences to Participate at the Advances in Me... | INN - Investing News Network - September 16th, 2021
- Seattle is now in the process of legalizing psychedelics, heres what to know - Curiocity - September 16th, 2021
- World Suicide Prevention Day: Suicide Remains a Leading Global Cause of Death; Communities Across the World Seek Expanded Use of Psychedelics as... - September 16th, 2021
- Psilocybin Transdermal Patches Could Be The Next Big Thing In Psychedelics - Forbes - September 1st, 2021
- Psychedelics are getting closer to approval, but the market may not be ready - FierceBiotech - August 22nd, 2021
- At-Home Genetic Testing Cant Tell You If Youre Going to Have a Bad Trip - VICE - August 22nd, 2021
- Past, Present & Future of Psychedelic-Assisted Therapy: A New Dawn for Mental Health and Neuroscience - cmc.edu - August 22nd, 2021
- Researchers breaking away from the central dogma of depression - STAT - STAT - August 22nd, 2021
- When did humans start experimenting with alcohol and drugs? - EL PAS in English - August 22nd, 2021
- Origin Therapeutics Will Invest $5.1M In Psychedelics Startups - Yahoo Finance - August 14th, 2021
- GR is getting close to decriminalizing psychedelic plants and fungi - Fox17 - August 14th, 2021
- PsychedelicNewsBreaks Microdose Psychedelic Insights to Deep Dive into World of Psychedelic Medicine Investment at Upcoming Conference -... - August 14th, 2021
- Bexson Biomedical Launches New Project, Applying Subcutaneous Delivery Technology To Multiple Psychedelic Compounds For Therapeutic Use - PRNewswire - August 14th, 2021
- Neil deGrasse Tyson Talks Psychedelic Mushrooms And The Weird World Of Fungi On His Podcast - IFLScience - August 14th, 2021
- Delic Announces Luke Storey, Transformation Coach and Creator/Host of Thought-Provoking Podcast, The Life Stylist to Speak at Meet Delic: The World's... - August 14th, 2021
- Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) CEO Shares Insights on the Psychedelics Space on The Dealmaker Podcast - StreetInsider.com - August 14th, 2021
- Cybin Inc. Announces 2021 First Quarter Financial Results and Business Highlights - Business Wire - August 14th, 2021
- Biomind Labs Files Patent Application in the United States Patent and Trademark Office, Its 4th Patent Application - Yahoo Finance - August 14th, 2021
- Researchers Concerned About Whitewashing of Psychedelic-Assisted Mental Health Research - Mad In America - James Moore - August 6th, 2021
- Cybin Becomes First Psychedelics Company On The NYSE: CEO Explains Everything You Need To Know - Yahoo Finance - August 6th, 2021
- Guide to the psychedelics industry: Companies, investors, science - Business Insider - August 6th, 2021