Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs through accelerated regulatory pathways, has reported its interim financial results; the results cover the three- and nine-month period ended May 31, 2021. Highlights of the report include Tryp’s collaboration with the Chronic Pain & Fatigue Research Center at the University of Michigan Medical School; the two companies will work together to conduct a Phase 2a clinical trial for fibromyalgia that is the first Phase 2 study evaluating the efficacy of a psychedelic compound for the indication. In addition, Tryp also partnered with the University of Michigan and George Mashour, MD, PhD, to focus on the development of Tryp’s proprietary, psilocybin-based TRP-8803 drug product. TRYP is also working with Fluence on the design and implementation of innovative psychotherapy to be used with Tryp’s psilocybin-based drug compounds and Alcami to develop analytical methods and final formulations for Tryp’s drug products. Other corporate highlights for the company included the appointment of Robin Carhart-Harris, PhD, as chair of Tryp’s Scientific Advisory Board (“SAB”), as well as the addition of Daniel Clauw, MD, to the board. Financial numbers for the period ending May 31, 2021, include total assets of $6.1 million and net and comprehensive losses of $2.6 million. The company is also hosting a third-quarter virtual Investor Day, scheduled for July 29, 2021, at 9 a.m. PDT. Included on the event agenda will be a presentation by Tryp’s management team as well as a Q&A session. Tryp executives participating in the event include Greg McKee, chair and CEO; Luke Hayes, CFO; and Jim Gilligan, PhD, president and chief science officer. Interested individuals who are unable to attend can view a reply of the Investor Day on the company’s website for 30 days following the event.
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About Tryp Therapeutics Inc.
Tryp Therapeutics is a pharmaceutical company focused on developing compounds for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. 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 eating disorder 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 eating 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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