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An announcement from Tryptamine Therapeutics ( (AU:TYP) ) is now available.
Tryptamine Therapeutics has successfully raised $6.1 million through the issuance of shares to accelerate the clinical development of its lead program, TRP-8803, an IV-infused psilocin formulation. This funding will support a world-first clinical trial with Swinburne University for treating Binge Eating Disorder and further clinical trials for other neuropsychiatric conditions. The strong investor support, including commitments from the company’s co-founder and board members, underscores confidence in Tryp’s strategic direction and growth potential. The funds will also advance TRP-8803’s manufacturing and regulatory programs, enhancing its commercial readiness.
More about Tryptamine Therapeutics
Tryptamine Therapeutics Limited is a clinical-stage biotechnology company focused on developing proprietary formulations of psilocin for use in psychotherapy to treat diseases with unmet medical needs. Their lead program, TRP-8803, is an IV-infused psilocin formulation designed to improve the administration of psilocybin by reducing the time to onset, controlling the depth and duration of the psychedelic experience, and shortening the intervention duration to a commercially feasible timeframe.
Average Trading Volume: 2,044,757
Technical Sentiment Signal: Buy
Current Market Cap: A$54.72M
For detailed information about TYP stock, go to TipRanks’ Stock Analysis page.