PharmAla Biotech Contracts UK CDMO for ALA-002 Manufacturing

PharmAla Biotech Holdings, Inc. ( (TSE:MDMA) ) has provided an update.

PharmAla Biotech Holdings Inc. has announced that its subsidiary, PharmAla Biotech Australia, has contracted with a UK-based CDMO for the manufacturing of its ALA-002 drug substance. This strategic move is crucial for the company’s upcoming Phase 2 clinical trial in 2026, marking the development of a new Active Pharmaceutical Ingredient for human use since 2022. Additionally, PharmAla has completed a significant shipment of its LaNeo MDMA to Mount Sinai’s Parsons Research Center for clinical research, reinforcing its commitment to advancing psychedelic healing.

Spark’s Take on TSE:MDMA Stock

According to Spark, TipRanks’ AI Analyst, TSE:MDMA is a Neutral.

PharmAla Biotech Holdings, Inc.’s stock score reflects strong revenue growth and strategic corporate advancements, tempered by challenges in profitability, technical indicators, and valuation concerns. The company’s expansion into new markets and partnerships are positive but necessitate improvements in cost and cash flow management for sustainable success.

To see Spark’s full report on TSE:MDMA stock, click here.

More about PharmAla Biotech Holdings, Inc.

PharmAla Biotech Holdings Inc. is a biotechnology company specializing in the research, development, and manufacturing of MDXX class molecules, including MDMA. The company aims to alleviate the global backlog of generic, clinical-grade MDMA for clinical trials and commercial sales, while also developing novel drugs in the same class. PharmAla is unique in providing clinical-grade MDMA for patient treatments outside of clinical trials and emphasizes strong regulatory relationships.

Average Trading Volume: 170,942

Technical Sentiment Signal: Sell

Current Market Cap: C$11.63M

See more insights into MDMA stock on TipRanks’ Stock Analysis page.