Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, has reported its interim financial results for its first quarter 2022, the three-month period ended Nov. 30, 2021. Highlights of the report included that the company’s total assets reached $2.4 million, with $2.1 million of that in cash. The report also noted that net and comprehensive losses for Q1 were both $3 million. According to the announcement, during the reported period the company submitted two Investigational New Drug (“IND”) applications to the US Food and Drug Administration (“FDA”) for its planned phase 2a studies; the two studies focus on fibromyalgia, which will be conducted in cooperation with the University of Michigan, and binge eating disorder, which will be conducted in cooperation with the University of Florida. The company received authorization to proceed on both studies.
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About Tryp Therapeutics Inc.
Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs. Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN(TM) (“PFN”), program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The company has announced upcoming phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and overeating disorders, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and method of delivery to improve the patient experience. For more information about the company, please visit www.TrypTherapeutics.com.
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