Common shares of Field Trip Health began trading on the CSE Tuesday morning under the symbol FTRP.
The psychedelics company, which has operations in the U.S. and Jamaica, went public through a reverse take-over with Canadian oil and gas explorer Newton Energy Corp.
“We have three divisions, but the unifying theme in our business model is that we want to be the leader in the development and delivery of psychedelic molecules and psychedelic therapies. And so every piece of our operation really feeds into that,” said Field Trip executive chairman Ronan Levy.
In a recent interview with Benzinga, the executive went over the company’s three verticals and its main revenue sources.
The Toronto-based company’s stock was trading at about $3 in afternoon trading.
Field Trip’s Psychedelic Therapy Clinics
“Right now our focus is trying to build the clinical hubs for psychedelic medicine across North America using ketamine-assisted psychotherapy,” says Levy.
Three clinics that have opened so far in Toronto, New York and Los Angeles. They currently use ketamine as a therapeutic psychedelic, and have been designed to apply MDMA or psilocybin treatment as soon as these compounds become legally available.
Levy said the company plans to be operating a minimum of 75 new clinics in North America within the next three to four years.
“The clinics based on just ketamine-assisted psychotherapy become cash-flow positive in their first year and generate significant margins,” said the exec. “So they’re a great business by themselves, but they just have much more value to us beyond the revenue generation.”
On top of their therapeutic possibilities, the clinics are formulated as hubs for data collection and analysis.
“It really is a novel space in terms of the development of these treatments, and so we really want to use our clinical hubs as a place to …