VANCOUVER, BC, May 14, 2024 /CNW/ – Filament Health Corp. (OTCQB: FLHLF) (Cboe CA: FH) (FSE: 7QS) (“Filament” or the “Company”), a clinical-stage natural psychedelic drug development company, released its first quarter financial results and operational highlights for the period ended March 31, 2024.
“This quarter we have continued to advance Filament’s drug development efforts in substance use disorders, as evidenced by the opening of our first IND with FDA in the United States. ” said Benjamin Lightburn, Chief Executive Officer and Co-Founder at Filament Health. “We expanded our network of licensing partners to new jurisdictions around the globe and our botanical psilocybin drug candidate, PEX010, is now authorized for investigation in 31 clinical trials worldwide for 13 mental health indications..”
Q1 2024 Financial Highlights:
- Cash and cash equivalents of $872,048 and a working capital of $359,664 as of March 31, 2024;
- Cash used in operating activities of $949,606 and total revenues of $297,932.
Q1 2024 Operational Highlights:
- On January 31, 2024, the Company announced that the U.S. Food and Drug Administration (“FDA”) has accepted the Investigational New Drug application for PEX010 for treatment of substance use disorders.
- On March 19, 2024, the Company announced that it had completed exports of PEX010, the Company’s botanical psilocybin drug candidate, to five research institutions in Canada, the United States, Belgium, and Israel for use in clinical trials studying mental health indications such as cannabis use disorder, depression, anxiety, and alcohol use disorder.
- On February 15, 2024, the Company announced that it had completed an export of PEX010 to Israel, which is believed to be the first botanical psilocybin exported to Israel.
- On January 17, 2024, the Company announced that it had completed an export of PEX010 to Perth, Western Australia, which is believed to be the first botanical psilocybin to be exported to Australia to its licensing partner, Reset Pharmaceuticals Inc. (“Reset”).
ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (CBOE CA:FH) (FSE:7QS)
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.