vancouver british columbia, April 2, 2024 /CNW/ – filament health company (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) (“Filament” or the “Company”), a clinical-stage natural psychedelic drug development company, is pleased to announce its fourth quarter financial results and operational highlights for the period ended. Announced. December 31, 2023.
“During the fourth quarter, we continued to lay the foundation to advance our lead program, PEX010, into meaningful Phase 2 clinical trials, including the difficult task of discontinuing our proposed business combination with Jupiter Acquisition Corporation. “It involved a thoughtful strategic decision to refocus our company on more traditional methods of financing.” benjamin lightburnCo-founder and CEO of Filament Health.
Mr. Lightburn continued, “Since the end of the quarter, the Filament team has worked diligently to expand our position as a leading developer of psychedelic drugs and the world's largest supplier of cGMP plant-based psilocybin. “We have shipped PEX010, our most advanced botanical drug candidate.” , went to six countries for clinical research and opened a separate IND with the FDA to study PEX010 as a treatment for substance use disorders. ”
Operational Highlights for Q4 2023:
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Magdalena Biosciences, a joint venture formed by Filament and Jaguar Health, announces the successful completion of the import of coca leaves to Filament's Metro Vancouver research and development facility.
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Health Canada announces approval of Phase 2 clinical trial University of British Columbia We are investigating the efficacy of PEX010 in the treatment of opioid use disorder.
Financial Capital Market Highlights for Q4 2023:
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cash and cash equivalents $1.8 million and working capital $1.1 million the current December 31, 2023;
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Cash used in operating activities $4.2 million during the last 12 months December 31, 2023; and
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total revenue $2.1 million during the last 12 months December 31, 2022
Other corporate activities from the fourth quarter of 2023 onwards
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Announcement of completion of export of PEX010 perspective, western australia. This shipment is believed to be the first legally exported plant-based psilocybin. Australia Received by Reset Mind Sciences Ltd.
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The U.S. Food and Drug Administration announced that it has accepted an investigational new drug application for PEX010, a filamentous plant-based psilocybin drug candidate for the treatment of substance use disorders.
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Announcement of completion of export of PEX010 to Hadassah University Hospital Israel The study will study Filament's drug candidate in clinical trials investigating the effects of psilocybin on treatment-resistant obsessive-compulsive disorder and treatment-resistant post-traumatic stress disorder.
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Announces shipment of PEX010 to four countries for clinical trials at major research institutions including Johns Hopkins University. PEX010 will be studied below. Canada, US, Belgiumand Israelfor mental health indications such as cannabis use disorder, depression, anxiety, and alcohol use disorder.
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announced that michael messenger has been appointed to the Board of Directors and will also serve as Chairman of the Audit Committee. The company also announced the following: Stephen Nguyen has been appointed interim chief financial officer.
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 people, and our mission is to get them into the hands of everyone who needs them as quickly as possible. . Filament's unique intellectual property platform enables the discovery, development and delivery of natural psychedelic medicines for clinical development. We are paving the way to developing the first-ever natural psychedelic drug candidate.
Learn more about www.filament.health And even more twitter, Instagram and linkedin.
Forward-looking information
Certain statements and information contained herein may constitute “forward-looking statements” and “forward-looking information” respectively under Canadian securities laws. Forward-looking information generally includes phrases such as “expects,” “anticipates,” “continues,” “estimates,” “may,” “will,” “should,” “believes,” and the like. You can identify them by the use of forward-looking terminology. The words “”, “intend”, “anticipate”, “plan”, “guidance” and similar expressions are intended to identify forward-looking statements or information. Forward-looking statements herein include, without limitation, statements regarding the advantages of psilocin compared to psilocybin. Forward-looking statements are not historical facts but reflect Filament management's current expectations regarding future results or events and are based on information currently available. Certain important factors and assumptions have been applied in providing these forward-looking statements. Forward-looking statements about the Company are based on the Company's estimates and are subject to known and unknown risks, uncertainties and the possibility that the actual results, level of activity, performance or achievements of the Filaments will differ materially from those expressed or represented. is influenced by other factors. implied by such forward-looking statements or forward-looking information, including the results of clinical trials. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. Filament will not update any forward-looking statements or forward-looking information incorporated herein by reference, except as required by applicable securities laws.
SOURCE Filament Health Corporation
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