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Tryptamine Therapeutics ( (AU:ENP) ) has issued an update.
Entropy Neurodynamics has reported that a Phase 2a trial conducted at the University of Florida showed its oral psilocybin candidate TRP-8802 produced rapid, sustained reductions in binge-eating behaviour among all evaluable Binge Eating Disorder patients, alongside improvements in anxiety, depression, psychological inflexibility and waist circumference, with an 80% reduction in binge episodes maintained through 14 weeks and severe BED eliminated by Week 6. The peer-reviewed publication of these results in the Journal of Eating Disorders is being positioned by the company as a key validation of its therapeutic approach and as strong support for the ongoing development of its lead asset, TRP-8803, an IV-infused psilocin formulation now being trialled in BED patients, which could enhance the company’s standing in the emerging psychedelic therapeutics field if replicated in larger studies.
The most recent analyst rating on (AU:ENP) stock is a Sell with a A$0.03 price target. To see the full list of analyst forecasts on Tryptamine Therapeutics stock, see the AU:ENP Stock Forecast page.
More about Tryptamine Therapeutics
Entropy Neurodynamics Limited (ASX: ENP) is a clinical-stage biotechnology company focused on developing psychedelic-derived therapies, with a lead program centred on psilocybin/psilocin-based treatments for neuropsychiatric and eating disorders such as Binge Eating Disorder (BED).
Average Trading Volume: 2,090,506
Technical Sentiment Signal: Sell
Current Market Cap: A$53.11M
Find detailed analytics on ENP stock on TipRanks’ Stock Analysis page.