Psilera Inc. reported positive results in initial studies of its non-hallucinogenic psilocybin drug that it plans to use in dementia treatments. The initial toxicity readouts from maximum tolerated dose in vivo studies show a strong safety profile for the company’s PSIL-006 drug. “From the start, our primary focus was to …
Category: Psychedelics
Colorado finalizes business rules for psychedelics industry
The Colorado state government put the finishing touches on a new set of industry rules for entrepreneurs wishing to take part in the psychedelic trade of “magic” mushrooms, including for potential growers, product manufacturers and therapy centers. The move is the culmination of nearly two years of work and waiting …
Lykos to cut 75% of staff, reorganize in wake of FDA defeat
California-based Lykos Therapeutics announced a reorganization plan in the wake of the federal government’s rejection of its application for its MDMA-based drug designed to treat post-traumatic stress disorder. But the company promised stakeholders that the company is not giving up. Under the reorganization plan, Johnson & Johnson veteran executive Dr. …
Bright Minds reports enough cash for coming year, but still no solid revenue stream
New York-based biotech firm Bright Minds Biosciences Inc. (Nasdaq: DRUG) filed its fiscal third quarter earnings on Wednesday, reporting net income of C$413,843 for the period that ended June 30, a dramatic year-over-year turnaround from the C$1.4 loss for its third quarter in 2023. Losses for the fiscal year-to-date came …