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Tryptamine Therapeutics ( (AU:TYP) ) has issued an update.
Tryptamine Therapeutics has made significant strides in the development of its psilocin-based IV-infusion, TRP-8803, achieving key milestones in its clinical trial pathway. The recent completion of a Phase 1b study demonstrated safety and optimal dosage rates, allowing the transition to Phase 2 trials. Additionally, positive interim results from a Phase 2a study for TRP-8802 in treating IBS support the viability of its clinical targets. The company also successfully raised $6 million from investors, bolstering its financial position to support further clinical advancements.
More about Tryptamine Therapeutics
Tryptamine Therapeutics Limited is a clinical-stage biopharmaceutical company based in Melbourne, Australia. It specializes in the development of innovative psychedelic therapies, particularly focusing on TRP-8803, a psilocin-based intravenous infusion with potential neuroplastic benefits. The company aims to advance treatments that cause adaptive structural and functional changes in the brain, targeting clinical improvements.
YTD Price Performance: -20.0%
Average Trading Volume: 3,784,675
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$40.85M
See more insights into TYP stock on TipRanks’ Stock Analysis page.
