PsyBio Therapeutics releases unaudited interim financial results

198
2
 PsyBio Therapeutics releases unaudited interim financial results

PsyBio Therapeutics Corp. reported its unaudited interim financial results for the three and nine month period ended September 30, 2022, according to its unaudited interim financial results.

PsyBio, a fully integrated and intellectual property-driven biotechnology company, develops new psycho-targeted therapies aimed at the potential treatment of mental health problems, neurological disorders, and other human health conditions.

A press release contains a copy of the unaudited consolidated interim financial statements prepared in accordance with International Financial Reporting Standards and the corresponding management's discussion and analysis for the three and nine months ended September 30, 2022, and a copy of the unaudited consolidated interim financial statements.

Clinical and Intellectual Property Milestones:

The company has reached an initial agreement with experienced clinical researchers to conduct a clinical trial using PsyBio's proprietary biosynthetic psilocybin product upon obtaining all necessary approvals and licenses.

This would be the first time that Psybio s biosynthetic psilocybin reaches the clinical trial stage, which is expected to further our understanding of these molecules as therapeutic agents, said Dr. Michael Spigarelli, the company's chief medical and scientific officer.

The US Patent and Trademark Office approved the latest U.S. PCT Non-Provisional Patent Application.

The first six months of 2022 For PsyBio Therapeutics in numbers: PsyBio released results for the three and six month period ended June 30, 2022 in August. Its financial report shows that the cash position of $58,685, compared to $124,392 as of December 31, 2021, was $235,251 for the six month period ending June 30, 2022, compared to $203,172 for the same period in 2021.

In April, Evan Levine, Psybio CEO and chairman, was a guest speaker at Benzinga's Psychedelic Capital Conference where he talked about how genetically modified bacteria can yield best-in-class psychedelics.

You can get your daily dose of cannabis news on Benzinga Cannabis.