Psyence Group (TSE:PSYG) has released an update.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Psyence Group has announced a deal to sell its 11.13% interest in PsyLabs to Psyence Biomed, which will bolster Psyence Biomed’s capabilities in developing psychedelic-based therapeutics. The agreement, valued at $1.1 million in common stock, is contingent on certain conditions including approvals and a product development milestone by PsyLabs.
For further insights into TSE:PSYG stock, check out TipRanks’ Stock Analysis page.