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Compass Pathways Reports Quarterly Earnings with $444M Cash
In this week's "Psychedelic," The Fly's recurring series focused on psychedelic stock news, The Fly looks back on earnings, an extraction completion and analyst views.COMPASS REPORTS EARNINGS:On Tuesday, Compass Pathwaysreported awhich compared to analyst estimates of a loss per share of (33c). Cash and cash equivalents were $444M as of September 30, compared with $149.6M as of December 31, 2025. The current cash position is expected to be sufficient to fund operating expenses and capital expenditure requirements into 2028."Compass is leading one of the most important advances in mental health care in decades. Millions of people living with TRD are waiting for new treatments that can deliver meaningful and lasting benefit, and we believe COMP360 has the potential to change the paradigm," said Kabir Nath, CEO. "With the imminent completion of our NDA submission and the potential for a quick approval, we are executing with urgency and discipline to launch this much needed treatment in the first half of 2027. At the same time, we continue to advance our PTSD program, extending the potential impact of COMP360 to additional patient populations with significant unmet need. With a robust clinical package, a clear path forward, and a launch-ready organization, Compass is well positioned to deliver a successful TRD launch."FILAMENT COMPLETES EXTRACTION OF IBOGAINE CANDIDATE:Rhelion Life Sciencesannounced Monday that subsidiary Filament Health hasits naturally derived ibogaine drug candidate. The company has begun the next stages for stability testing on the new extract. This follows the company's September 10 announcement that Filament had begun planning a stability program for IBEX011. Stability testing is intended to support a shelf life and specification for IBEX011 and its potential future supply to regulated clinical research. IBEX011 is a total alkaloid iboga extract produced using Filament's proprietary extraction, purification and stabilization methods, the same platform used to produce PEX010, Filament's botanical psilocybin drug candidate.The company also announced Tuesday that Filament has shipped PEX010 to the University of Southern California, on behalf of its Keck School of Medicine, for the trial titled "Mindfulness Assisted Psychedelic Therapy". This is the first shipment under the supply and licensing agreement announced on September 15. The trial will evaluate whether and how mindfulness and meditation training can augment psilocybin-assisted therapy. The trial is led by Dr. Rael Cahn at the Keck School of Medicine of USC. USC is the sponsor of the trial.IMPLICATIONS SEEN FROM USONA FILING:Canaccord noted that trade publication Psychedelic Alpha published an article, citing anonymous sources "close to Usona," which suggested that the not-for-profit organization has filed a new drug application with the FDA for its psilocybin for major depressive disorder. The news has implications for Compass Pathways, which is developing the same molecule, but for treatment-resistant depression and has started a rolling NDA submission with the goal to complete its submission in Q4, and for Definium Therapeutics, which is developing DT-120 for MDD and generalized anxiety disorder with a potential filing in 1H27, the analyst said. The potential filing "makes things more real from a competitive standpoint," added the analyst, who pointed out that publicly-listed developers of psychedelic therapeutics were trading down on the news, while also discussing read through to Helus Pharmaand GH Research.Additionally, Jefferies noted that psychedelic stocks were weak intraday Monday after the Usona report. Although the firm had anticipated Usona to file an NDA, it was "surprised to see Usona file first," the analyst said. However the firm thinks sponsors like Compass Pathways and Definium Therapeutics have generated "more robust clinical data" to support pricing power and added that covered public companies in the space should have access to more resources to launch their psychedelics successfully.ENVERIC REPORTS EB-003 RESULTS:Enveric Biosciencesannounced Wednesday results from a, in mice. The study demonstrated modulation of brain activity in prefrontal and parietal regions of the cortex, providing functional evidence of central nervous system penetration and revealing a neurophysiological profile differentiated from dimethyltryptamine, a classic hallucinogenic psychedelic. The study evaluated EB-003 in mice using continuous qEEG recording across a broad range of brain-wave frequency bands, with DMT included as a comparator. The study achieved its primary objective of establishing a translational pharmacodynamic measure of EB-003's effects on cortical brain-wave oscillations. Additionally, in the study, DMT induced notable epileptic-like EEG activity and acute body spasms. EB-003 did not elicit similar findings, indicating a more favorable neurophysiological profile. Quantitative EEG measures the brain's electrical activity across different frequency bands, and maps them across brain regions, providing a method to characterize how a drug affects brain electrical function. The results generated in this study strengthen the rationale for evaluating qEEG in EB-003's planned first-in-human program, where it could complement safety and pharmacokinetic assessments and help inform dose selection for later studies."These results demonstrate EB-003 induces measurable activity in relevant brain regions with a profile differentiated from DMT, providing additional evidence of EB-003's unique pharmacological profile and mechanism of action," said Joseph Tucker, CEO. "The research has also identified qEEG as a suitable objective biomarker that we can utilize in upcoming human studies. As we advance toward our planned Phase 1 clinical trial of EB-003, the ability to correlate drug exposure to changes in brain activity on qEEG could help us identify biologically active doses and make more informed decisions for subsequent trials."PHARMALA, COREALIS SIGN AGREEMENT:PharmAla Biotech Holdingsannounced Thursday that it has signed an agreement with Corealis Pharma, a GMP-compliant contract development and manufacturing organization based in Laval, Québec, for thefor clinical supply. The agreement adds a high quality drug product manufacturer to PharmAla's ALA-002 supply chain. Corealis was selected following a technical, quality, and regulatory evaluation of Contract Development and Manufacturing Organizations. Corealis has already begun R&D on the drug product formulation, with GMP manufacturing of the first ALA-002 drug product batch scheduled upon completion of development activities. ALA-002 will initially be developed and launched as a 50mg capsule."We're confident that Corealis is the right partner to execute this work," said Farnoud Kazemzadeh, COO. "We are also excited to bring this drug development work back to Canada."FDA PLACES CLINICAL HOLD ON BMB-101-105 IND APPLICATION:Bright Minds Biosciencesannounced Monday that the FDA notified the company via email that its investigational new drug application for Developmental and Epileptic Encephalopathies and related Protocol BMB-101-105 has beenThe proposed trial related to this IND is a randomized, placebo-controlled, double-blind Phase 2 study designed to evaluate the efficacy and safety of ascending doses of BMB-101, up to a maximum tolerated dose, for the treatment of seizures associated with DEEs. The company believes that the partial clinical hold covers only the planned Phase 2 trial of BMB-101 in DEE in the United States, and the partial clinical hold does not affect the Company's other ongoing clinical trials. The primary reason given by the FDA relates to identified toxicity in mice, and inadequate pharmacokinetic and juvenile toxicity data to support the proposed pediatric enrollment. The company believes that the FDA's observation of toxicity in mice was not seen in any other species. The company further believes, based on its toxicity reports, peer reviewers, and multiple independent toxicology expert opinions, that the adverse mouse findings were incidental and not drug-related. The company plans to review the FDA's Partial Clinical Hold Letter and refine the study in accordance with the FDA's recommendations with the objective of addressing the identified issues and advancing future U.S. clinical trials.H.C. Wainwright said based on the initial disclosure, the issues appear potentially addressable. However, the firm preliminarily expects at least a one-year delay to the U.S. DEE development timeline, subject to the FDA's requirements. Wainwright's estimates are under review. The firm has a Buy rating on the shares with a price target of $145.BTIG lowered the firm's price target on Bright Minds to $37 from $147 and kept a Buy rating on the shares. While the firm awaits further detail of the hold, it admits "this could be a nice 60% off sale on the stock," but added that this issue - which it calls "the meeting of an incompletely convincing clinical package meeting the high wall for treating children with non-life threatening conditions" - could take some time to be cleared up.Baird lowered the firm's price target on Bright Minds to $107 from $126 and kepy an Outperform rating on the shares.NRX RECEIVES FDA APPROVAL FOR KETAMINE ANDA:NRx Pharmaceuticalsannounced Friday that the FDA has approved the company'sThe approval comes ahead of the FDA-announced November 10, approval goal date."We are excited to bring Preservative-Free Ketamine to market and to give patients and their physicians an option for repeat treatments without the potential dangers of a preservative that has been classified as unacceptable for inclusion in multiple product categories by the US Food and Drug Administration," said Jonathan Javitt, CEO. "Ketamine injection has been in short supply since 2018 and currently appears on the FDA drug shortage list with some manufacturers discontinuing production. The Secretary of Health and FDA Commissioner have previously identified ketamine as a strategic drug whose supply in the US must be assured. With manufactured commercial supply on hand, we can now label our product and supply American hospitals and clinics. In those settings, ketamine is used primarily for anesthesia and pain control, including in labor and delivery, where it is the only IV anesthetic that minimizes suppression of breathing in the baby. We are pleased to work with our partners at Nephron Pharmaceuticals in West Columbia, South Carolina, who have helped us prove that sterile, preservative-free injectables can be made in America."OTHER PSYCHEDELIC STOCKS:Publicly-traded companies in the space include Grey Matters Health, BetterLife, Clearmind, Eli Lilly, Incannex, MIRA Pharmaceuticals, Numinus Wellness, Optimi Health, Pasithea Therapeutics, PharmaTher, Psyence Biomedical, Revive Therapeutics, Sibannacand Silo Pharma.
Enveric Biosciences EB-003 Shows Positive ADMET Study Results
Enveric Biosciences announced positive results from recently completed IND-enabling in vitro Absorption, Distribution, Metabolism, Excretion and Toxicity, ADMET, studies for its lead non-hallucinogenic, neuroplastogenic candidate EB-003. The comprehensive in vitro screen, involving a battery of over 70 individual assays, demonstrated favorable properties of EB-003 including: Predicted to have favorable intestinal absorption potential when evaluated in human cell-based membrane permeability tests; Does not show significant in vitro plasma protein binding suggesting favorable biodistribution and clearance properties when the drug enters the bloodstream; Demonstrates stability when evaluated against liver metabolism enzymes from multiple species, including human; Is not a substrate of key liver and renal transporters in vitro, suggesting favorable systemic drug exposure and a more predictable drug elimination profile; Does not show significant inhibition or induction of major metabolic enzymes and multidrug transporter proteins, reducing the possibility of drug-drug interactions
Enveric Biosciences Receives Patent Allowance for EVM401 Series
Enveric Biosciences announced that it has received a Notice of Allowance from the United States Patent and Trademark Office, USPTO, for a patent application covering novel compounds within its EVM401 Series of drug candidates. The EVM401 Series comprises proprietary, non-hallucinogenic mescaline-derived compounds designed to promote neuroplasticity for the potential treatment of psychiatric and neurological disorders.
TD Cowen Raises Helus Price Target to $62
In this week's "Psychedelic," The Fly's recurring series focused on psychedelic stock news, The Fly looks back on earnings, analyst notes and a notice of allowance.EARNINGS:On Monday, Bright Minds Biosciencesreported a third quarter loss per share of (C$0.24), which compared to a loss per share of (C$0.74) for the same period last year. At June 30, the company had working capital of C$307,739,740 including cash and cash equivalents of C$307,828,515. The company's current and expected cash resources are sufficient to satisfy working capital requirements of running the operations for the following twelve months; however, the company has not realized a source of revenue therefore, management will continue to seek new sources of capital to maintain its operations.Also on Monday, NRx Pharmaceuticalsreported a Q2 loss per share of (44c), which compared to a loss per share of (98c) for the same period last year. As of June 30, the company had approximately $26.7M in cash and cash equivalents versus $7.8M as of December 31, 2025. The increase was primarily related to the company's completion of a public offering of common stock with gross proceeds of more than $22M. Management believes current cash resources, anticipated growth in clinic revenue, and opportunistic utilization of the company's active at-the-market offering facility will be sufficient to support operations for at least one year. "The second quarter of 2026 was a major inflection point for NRx as we advance our mission to bring hope to the most vulnerable patients battling depression and suicidal ideation," said Jonathan Javitt, CEO. "We have continued to drive towards our key objective of first commercial ketamine sales in 2026 with corresponding manufacturing operations and build-out of our first commercial team. Our path to approval of NRX-100 has been advanced by support from the White House and Congress for the use of Real World Evidence that our drug has comparable or superior efficacy to that of current market leaders. Our partnership with the Department of War and its Defense Advanced Research Projects Agency led by Prof. Brown and Dr. Dennis McBride is the culmination of a multi-year endeavor. Similarly, our acquisition of the GeNeuro assets and the resulting partnership with NIH offers a clinical stage and potentially humanity-changing opportunity for the Company – including potentially the first disease-modifying drug to treat ALS – in ALS and other serious disorders, with strong governmental partnership and support from non-dilutive sources of capital. Combat veterans face a two-fold increased risk of ALS, and advancing a cure remains a high priority with strong Congressional support."On Friday, Enveric Biosciencesreported a Q2 loss per share of (76c), which compared to a loss per share of ($11.65) last year. The company had cash-on-hand of $8.3M as of June 30. "The second quarter was highlighted by important progress across the key activities supporting our planned first-in-human clinical trial of EB-003," said Joseph Tucker, CEO. "Over the past several months, we advanced multiple IND-enabling studies and generated additional preclinical data that support EB-003's potential non-hallucinogenic profile. Collectively, these accomplishments strengthen the scientific foundation of our lead program as we work toward an IND submission for the anticipated Phase 1 trial…As we enter the second half of 2026, our priorities remain clear: complete the remaining IND-enabling activities, submit our planned IND application, and advance EB-003 into a first-in-human clinical trial. We believe the progress over the past several months has strengthened both our lead development program and the broader Enveric platform, positioning the Company to continue creating long-term strategic and shareholder value."Helus Pharmaalso reported earnings Friday, with a Q1 loss per share of (91c), which compared to loss per share of ($1.10) for the same period last year. Cash totaled $166.4M as of June 30. "Since joining Helus Pharma, I have been impressed by the quality of the Company's science, the strength of its development programs, and the team's disciplined execution," said Michael Halstead, CEO. "With enrollment in APPROACH completed and topline data expected in Q4 2026, we are entering an important period for HLP003. We are also advancing HLP004 as a promising short-acting candidate for generalized anxiety disorder and remain focused on executing our clinical, regulatory and commercial priorities in support of our mission to deliver transformative treatment options for patients."TD Cowen raised the firm's price target on Helus to $62 from $8 and kept a Buy rating on the shares. The firm said its target increase is due to three major recent value-creating tailwinds to their thesis. The increased visibility into Phase 3 HLP003 adjunct MDD data timing, now expected mid-November, a new, seasoned CEO with an extensive operational and strategic track record in neuropsych, and new M&A, regulatory and executive branch tailwinds for the psychedelic neuropsych sector.DEFINIUM INITIATED WITH A BUY:BofA initiated coverage of Definium Therapeuticswith a Buy rating and $75 price target. The company's lead asset, DT120 – LSD, is in pivotal studies for major depressive disorder and generalized anxiety disorder with recent best-in-class potential demonstrated in the phase 3 studies for both indications, the analyst said. If replicated in ongoing pivotal studies, the firm believes that DT120 could be a go-to option for patients with severe MDD and GAD, representing multi-billion dollar commercial opportunities, BofA added.Maxim raised the firm's price target on Definium to $55 from $50 and kept a Buy rating on the shares. The firm cited the company having announced topline data from Voyage, its first pivotal study in GAD, meeting the primary and all key secondary endpoints, also noting that data from the confirmatory pivotal study, Panorama, are expected in September, the analyst said.ATAIBECKLEY DOWNGRADE:Oppenheimer downgraded AtaiBeckleyto Perform from Outperform without a price target after Eli Lillyagreed to acquire the company for $6.75 per share upfront cash plus up to $2.50 per share in contingent payments.SILO PHARMA RECEIVES NOTICE OF ALLOWANCE:Silo Pharmaannounced Tuesday that the Canadian Intellectual Property Office has issued a Notice of Allowance for a patent application covering its lead asset, SPC-15, an intranasal 5-HT4 receptor agonist targeting post-traumatic stress disorder and other stress-induced psychiatric disorders. The company has an exclusive license for the Canadian patent application as part of its broader license agreement with Columbia University to further develop, manufacture, and commercialize SPC-15 globally. The allowed patent application, titled "Prophylactic Efficacy of Serotonin 4 Receptor Agonists Against Stress," covers methods of preventing or delaying stress-induced fear and depressive-like behavior and methods for inducing and/or enhancing stress resilience by administering selected serotonin 4 receptor agonists prior to a stressor."The Canadian patent allowance adds to our momentum in securing broad international protection for SPC-15," said Eric Weisblum, CEO. "With corresponding claims receiving protection across multiple markets, we continue to strengthen the global IP position of SPC-15 and our broader therapeutic portfolio."OTHER PSYCHEDELIC STOCKS:Publicly-traded companies in the space include Grey Matters Health, BetterLife, Clearmind, Compass Pathways, Filament Health, GH Research, Incannex, MIRA Pharmaceuticals, Numinus Wellness, Optimi Health, Pasithea Therapeutics, PharmAla Biotech, PharmaTher, Psyence Biomedical, Revive Therapeutics, Sibannacand Silo Pharma.
Compass Pathways Q2 Loss Widens to 34 Cents
In this week's "Psychedelic," The Fly's recurring series focused on psychedelic stock news, The Fly looks back on earnings, a DSMB approval and a CEO appointment.EARNINGS:On Thursday, GH Researchreportedwhich compared to analyst estimates of a loss per share of (30c). Cash, cash equivalents and marketable securities were $362.7M as of June 30, compared to $280.7M as of December 31, 2025. The company said, "We have completed GH001-HV-106, our Phase 1 clinical pharmacology trial of our proprietary aerosol delivery device in healthy volunteers, and GH001-HV-109, our IND-opening Phase 1 trial of GH001 in healthy volunteers in the United States. Based on the results of GH001-HV-106, we have selected the doses for our pivotal program. In July 2026, we received written responses from the FDA confirming that our CMC and device plans appear Phase 3 ready. We continue to engage with the FDA on the design of the pivotal program, which is intended to replicate the Phase 2b trial, including consideration of recent FDA guidance issued in July 2026, and we continue to target initiation of our pivotal program in 2026."On Wednesday, Compass Pathwaysreportedwhich compared to analyst estimates of a loss per share of (34c). The increase in net loss was primarily driven by non-cash fair value adjustments related to warrants. Cash and cash equivalents were $433.3M as of June 30, compared with $149.6M as of December 31, 2025. The current cash position is expected to be sufficient to fund operating expenses and capital expenditure requirements into 2028. "The first half of 2026 marked a defining period for Compass as we continued to build momentum across clinical, regulatory and commercial fronts in preparation for the potential approval and launch of COMP360," said Kabir Nath, CEO. "Over the past six months, we have strengthened – and further validated – the consistent evidence supporting COMP360's transformative potential, expanded our commercial readiness capabilities, deepened engagement across the treatment ecosystem, and advanced our rolling submission in support of a regulatory filing in Q4. Our focus now is on disciplined execution - completing our filing activities and ensuring we are ready to deliver COMP360 to patients with TRD as quickly as possible, if approved. Our conviction in the potential of COMP360 has never been stronger. We are well positioned, confident in our ability to execute, and committed to bringing this transformative new treatment option to patients."Compass also announced Thursday it is working with the U.S. Department of Verterans Affairs on a multi-site randomized controlled clinical trial. The study will evaluate the safety and efficacy of COMP360 psilocybin in the treatment of treatment-resistant depression in veterans, including those with concurrent post-traumatic stress disorder. The trial, titled "Psilocybin Intervention for Veterans Overcoming Treatment-Resistant Depression," or PIVOT, reflects VA's commitment to pursuing innovative solutions for veterans who have not responded to existing treatments. Compass will donate the study drug - COMP360, a synthetic, proprietary pharmaceutical-grade formulation of psilocybin optimized for stability and purity. Compass will support the education and training of the investigators and their training team through the provision of training materials, guidance, and consultation on administration protocols. In turn, the investigators and their training team will train the initial cohort of health care providers and will be prepared to train additional support providers as needed.The multi-site, double-blind, randomized controlled trial will enroll veterans diagnosed with TRD, with or without concurrent PTSD, and will compare outcomes between two different doses of COMP360 psilocybin with the option for a second open label administration four weeks after initial dose. The primary measure of efficacy will be depression severity, assessed using the Montgomery-Asberg Depression Rating Scale. Secondary outcomes will include assessments of PTSD symptom severity, tolerability of side effects, and overall patient-reported depression. The lead site is the Birmingham VA Health Care System in Alabama, in collaboration with four additional VA sites in Tuscaloosa, Portland, Seattle and Philadelphia.RBC Capital lowered the firm's price target on Compass to $21 from $22 and kept an Outperform rating on the shares. Compass Pathways reported a solid quarter with progress toward a Q4 TRD filing and potential 2027 launch, supported by strong patient, prescriber, and payer interest, while PTSD optionality and attractive valuation enhance long-term upside potential, the analyst said.B. Riley raised the firm's price target on Compass to $22 from $17 and kept a Buy rating on the shares post the Q2 report. The company disclosed that the FDA has begun reviewing COMP360 data modules submitted under the rolling new drug application, the analyst said.CLEARMIND SAYS DSMB CLEARS AUD STUDY PROGRESSION:Clearmind Medicineannounced Thursday that its independent Data and Safety Monitoring Board has unanimouslyto parts B and C, evaluating CMND-100 in patients actively suffering from Alcohol Use Disorder and in healthy participants, respectively. The DSMB's approval follows the completion of Part A of the study, where CMND-100 achieved its primary safety endpoint, demonstrating a favorable safety and tolerability profile across all planned dose levels in healthy participants. After reviewing the full safety dataset from Part A, the DSMB unanimously recommended advancing the study to Parts B and C in accordance with the previously approved study protocol. Part B marks a clinical milestone for Clearmind, as CMND100 will be evaluated for the first time in human patients with moderate to severe AUD, unlike Part A that included only healthy participants. This phase will enroll, sequentially, two cohorts of six patients receiving 80 mg and 160 mg doses, respectively, and will assess safety, tolerability, and early signals of clinical activity, including CMND100's potential to reduce alcohol consumption and craving. Part C will be conducted, concurrently with Part B, in healthy participants and will evaluate CMND‑100 at a fixed daily dose of 160 mg administered over five consecutive days. This double‑blind, placebo-controlled segment will further characterize the safety and tolerability profile of CMND‑100."Receiving DSMB approval to advance our clinical trial to patients with AUD marks an important milestone for Clearmind," said Adi Zuloff-Shani, CEO. "With the successful demonstration of safety and tolerability throughout the dose-escalation phase of the study, we are now positioned to evaluate CMND-100 in the population it is designated to help. This transition represents a meaningful step toward advancing a potential new treatment option for individuals living with AUD."Clearmind also announced Monday that it has entered into a non-binding Letter of Intent to acquire 51% stake in electric vehicles wireless charging solutions for automated parking systems and autonomous mobile platforms company. Under the terms of the LOI, Clearmind will acquire the majority stake of the company for an aggregate purchase price of $2.5M. In addition, in connection with and as a condition to the closing of the acquisition, the company shall extend a loan to the acquired company in the principal amount of $1.5M. The loan shall bear interest at a rate of 4% per annum and shall be repaid on the two year anniversary of the closing.HELUS APPOINTS NEW CEO:Helus Pharmaannounced Monday the. Halstead's appointment comes as Helus advances HLP003 through late-stage clinical development and prepares for potential commercialization. Enrollment is complete in APPROACH, with topline data expected in Q4, while enrollment continues in EMBRACE, the second pivotal study in the Phase 3 PARADIGM program. Participant rollover is ongoing into EXTEND, the long-term extension study. Halstead brings 25 years of industry experience, most recently serving as President of Intra-Cellular Therapies."Mr. Halstead's leadership and operational experience guiding pharmaceutical companies through late-stage development, infrastructure buildout, and commercialization will be invaluable as we execute against our upcoming HLP003 and HLP004 clinical, regulatory, and commercial milestones," said Eric So, Executive Chairman.ENVERIC REPORTS EB-003 PRECLINICAL DATA:Enveric Biosciencesannounced Wednesday new preclinical data that further supports the growing body of evidence reinforcing thePreclinical testing of EB-003 was conducted using a targeted GloSensor cAMP assay. The Promega GloSensor cAMP assay is a highly sensitive live-cell test designed to detect subtle Gi-coupled receptor responses in real time. The study evaluated EB-003 alongside known hallucinogenic and non-hallucinogenic reference compounds and produced results that the company believes are consistent with recently published Nature research, which identified signaling characteristics that distinguish compounds predicted to be hallucinogenic from those expected to be non-hallucinogenic in humans. The 2026 Nature paper linked 5-HT2A receptor-mediated Gi activation with hallucinogenic compounds, suggesting that the strength of this signaling response may help predict whether a drug will be hallucinogenic in humans. In Enveric's study evaluations, EB-003 consistently fell within the non-hallucinogenic range."These new findings further support our previous studies regarding the differentiated design of EB-003 and its non-hallucinogenic profile," said Joseph Tucker, CEO. "The consistency of the data across multiple independent assay platforms provides important validation of our approach as we prepare to advance EB-003 into Phase 1 clinical development. As the FDA continues to define the regulatory framework for psychedelic-inspired therapies, we believe compounds designed to preserve the therapeutic potential of neuroplasticity without requiring a hallucinogenic experience could offer meaningful advantages in clinical development while supporting broader patient access and potential commercial adoption."OTHER PSYCHEDELIC STOCKS:Publicly-traded companies in the space include Grey Matters Health, AtaiBeckley, BetterLife, Bright Minds, Definium Therapeutics, Filament Health, Incannex, MIRA Pharmaceuticals, NRx Pharmaceuticals, Numinus Wellness, Optimi Health, Pasithea Therapeutics, PharmAla Biotech, PharmaTher, Psyence Biomedical, Revive Therapeutics, Sibannacand Silo Pharma.
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