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Tryptamine Therapeutics ( (AU:ENP) ) has shared an update.
Entropy Neurodynamics has received an $847,186 cash refund under Australia’s R&D Tax Incentive for its FY24 eligible research and development activities, reflecting a 48.5% tax offset on qualifying expenditure. The funds will be directed to its ongoing clinical trial of TRP-8803 for binge eating disorder with Swinburne University and to the broader clinical trial program, bolstering non-dilutive funding for the company’s pipeline of psilocin-based neuropsychiatric therapies and supporting its efforts to advance TRP-8803 from promising Phase 2a data toward more commercially viable, controlled psychedelic treatments.
More about Tryptamine Therapeutics
Entropy Neurodynamics Limited is a clinical-stage biotechnology company developing proprietary psilocin-based formulations combined with psychotherapy to treat diseases with significant unmet medical needs. Its lead program, TRP-8803, is an intravenous psilocin formulation designed to offer controlled, repeatable psychedelic exposure, addressing limitations of oral psilocybin by shortening time to onset, managing depth and duration of effect, and making treatment commercially feasible. The company has completed Phase 2a trials in binge eating disorder and fibromyalgia and is running a Phase 2a trial in irritable bowel syndrome using its oral psilocybin formulation TRP-8802 to establish clinical benefit before progressing to TRP-8803 in subsequent studies.
Average Trading Volume: 2,536,966
Technical Sentiment Signal: Sell
Current Market Cap: A$53.11M
Learn more about ENP stock on TipRanks’ Stock Analysis page.