Filament Health Corp. (OTCQB: FLHLF / NEO: FH / FSE: 7QS), a clinical-stage natural psychedelic drug development company, released its first quarter financial results and operational highlights for the period ended March 31, 2023.

“We are pleased to report on another highly productive quarter. Filament’s industry-leading expertise in botanical extraction is a valuable asset which facilitates the discovery of novel psychedelic medicines. We’re proud to share that our pharmaceutical-grade botanical psilocybin is now being studied in clinical trials for ten different mental health indications across North America and Europe. Moving forward, we will continue to strengthen our revenue-generating supply network and mutually beneficial arrangements with research institutions.”

Benjamin Lightburn, CEO and Co-Founder of Filament Health

2023 Q1 Financial and Operational Highlights:

  • Cash and cash equivalents of approximately $2.4 million as of March 31, 2023;
  • On March 15, 2023, the Company announced FDA approval of a Phase 2 clinical trial studying botanical psilocybin for methamphetamine use disorder;
  • On February 14, 2023, the Company announced its second psilocybin supply agreement with the Center for Addiction and Mental Health (CAMH) for a clinical trial for amnestic mild cognitive impairment;
  • On January 18, 2023, the Company announced a clinical trial approval in partnership with Psychiatric Centre Copenhagen to study psilocybin for alcohol use disorder; and
  • On January 10, 2023, the Company announced an agreement with Jaguar Health to form a joint venture, Magdalena Biosciences, with US$1,000,000 funding from One Small Planet. The purpose of Magdalena is to develop novel, natural prescription medicines for mental health indications.

ABOUT FILAMENT HEALTH

Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament’s platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates.