n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
VANCOUVER, BC, April 2, 2024 /PRNewswire/ — Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) (“Filament” or the “Company”), a progression of clinical-stage herbal psychedelic drug company, reported its fourth-quarter monetary effects and operational highlights for the era ending December 31, 2023.
“During the fourth quarter, we continued to lay the groundwork to advance our lead program, PEX010, into meaningful Phase 2 clinical trials. This included the difficult but considered strategic decisions to finalize the proposed business combination with Jupiter Acquisition Corporation and refocus our efforts. over more classic company funding strategies,” said Benjamin Lightburn, co-founder and CEO of Filament Health.
Lightburn continued, “Since the end of the quarter, the Filament team has worked diligently to strengthen our position as a leading developer of psychedelic drugs, as well as a leading global supplier of cGMP botanical psilocybin. We have shipped PEX010, our top botanical drug candidate complex, to six countries for clinical research, and opened another IND with the FDA for the study of PEX010 as a treatment for substance use disorders.
Fourth Quarter 2023 Operational Highlights:
Announces that Magdalena Biosciences, a joint venture formed through Filament and Jaguar Health, Inc. , has effectively completed an import of coca leaves to Filament’s research and progression facility in Metro Vancouver.
It announced Health Canada’s approval of a phase 2 clinical trial at the University of British Columbia investigating the effects of PEX010 for the treatment of opioid use disorder.
Fourth Quarter 2023 Capital & Capital Markets Highlights:
Cash and cash equivalents of $1. 8 million and current capital of $1. 1 million as of December 31, 2023;
Cash used in operations of $4. 2 million in the twelve months ended December 31, 2023; and
Total revenue of $2. 1 million for the twelve months ended December 31, 2022
Other activities after the fourth quarter of 2023
Announcing the finishing touch of a PEX010 export to Perth, Western Australia. This shipment is believed to be the first botanical psilocybin legally exported to Australia and obtained through Reset Mind Sciences Ltd.
Announces that the U. S. Food and Drug Administration will continue to announce that the U. S. Food and Drug Administration will continue to announce that the U. S. Food and TThe U. S. Department of Agriculture has accepted the investigational new drug application for PEX010, Filament’s psilocybin botanical drug candidate, for the treatment of substance use disorders.
He announced the finishing touch of an export of PEX010 to Hadassah University Hospital in Israel, which will be Filament’s drug candidate in a clinical trial examining the effects of psilocybin on treatment-resistant obsessive-compulsive disorder and treatment-resistant post-traumatic stress disorder.
It was announced that PEX010 would be shipped to 4 countries for clinical trials at leading research institutes, in addition to Johns Hopkins University. PEX010 will be studied in Canada, the United States, Belgium and Israel for indications of intellectual fitness such as hashish use disorders, depression, anxiety and alcohol use. disorders.
Announcement of the appointment of Michael Messinger to its Board of Directors and that he will serve as Chair of the Audit Committee. The company announced that Steven Nguyen has been named interim chief financial officer.
ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (Cboe CA:FH) (FSE:7QS)Filament Health is a clinical-stage herbal psychedelic drug progression company. We know that safe, standardized, herbal psychedelic medicines can improve the lives of many people. And our project is to put them in the hands of all those who want them as temporarily as possible. Filament’s proprietary intellectual asset platform enables the discovery, progression, and delivery of herbal psychedelic drugs for clinical progression. We’re leading the way with the first-ever candidates for herbal psychedelic drugs.
Learn more at www. filament. health and on Twitter, Instagram, and LinkedIn.
FORWARD-LOOKING INFORMATION Certain statements and data contained herein may constitute “forward-looking statements” and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking data can be understood by using forward-looking terminology such as “expect”, “anticipate”, “continue”, “estimate”, “possibly”, “will”, “”. “, “intends”, “forecasts”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or data. Forward-looking statements contained herein include, but are not limited to, statements regarding the benefits of psilocin on psilocybin. Forward-looking statements are not past facts, but reflect the existing expectations of Filament’s management regarding long-term effects or occasions and are based on data already available to them. Certain points and assumptions have been implemented in offering such forward-looking statements. Forward-looking statements relating to the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other matters that could possibly cause the actual effects, degrees of activity, functionality or achievements of Filament could be materially different from those expressed or implied by such forward-looking statements or forward-looking data, including the effects of the clinical trial. There can be no assurance that such statements will prove to be accurate, as actual effects and long-term events may also differ slightly from those anticipated in such statements. Therefore, readers are advised not to place undue reliance on forward-looking statements and data. Filament will not update any forward-looking statements or forward-looking data incorporated by reference herein except as required by applicable securities laws.
SOURCE Filament Health Corp.
Watch the content to download media: http://www. newswire. ca/en/releases/archive/April2024/02/c5729. html