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Tryptamine Therapeutics ( (AU:TYP) ) has issued an announcement.
Tryptamine Therapeutics has secured $2.6 million in non-dilutive capital through an agreement with Rockford Equity Pty Ltd, enhancing its financial flexibility to accelerate the clinical development of TRP-8803 for treating binge eating disorder and other conditions. This financial boost, combined with existing cash reserves and expected tax incentives, positions the company to advance its clinical trials and potentially improve its standing in the biotechnology industry.
More about Tryptamine Therapeutics
Tryptamine Therapeutics Limited is a clinical-stage biotechnology company focused on developing proprietary formulations of psilocin for therapeutic use. The company’s lead program, TRP-8803, is an IV-infused psilocin formulation aimed at treating diseases with unmet medical needs, such as binge eating disorder and fibromyalgia, by enhancing the efficacy and safety of psychedelic-assisted psychotherapy.
Average Trading Volume: 1,738,607
Technical Sentiment Signal: Buy
Current Market Cap: A$50.36M
Find detailed analytics on TYP stock on TipRanks’ Stock Analysis page.
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