Earlier this year, Irwin Naturals Inc. (OTC: IWINF) appeared to wear out its welcome as a client of East West Bank (EWB). Now, the supplements company has filed for Chapter 11 bankruptcy. Green Market Report reported in July that Irwin Naturals quit making payments on the $40 million loan provided …
Category: Psychedelics
Psychedelic industry reacts to FDA’s MDMA decision, study retraction
The U.S. Food and Drug Administration’s decision to reject MDMA-assisted therapy for post-traumatic stress disorder sent ripples through the psychedelic industry. The FDA issued a complete response letter to Lykos Therapeutics on Friday for its new drug application for midomafetamine capsules, an MDMA-assisted therapy for PTSD in adults. The agency …
FDA declines to approve Lykos’ MDMA-based PTSD drug, requests additional trial
Lykos Therapeutics hit a major roadblock Friday in its bid to bring the first psychedelic-based therapy for post-traumatic stress disorder to market, as U.S. regulators rejected its application and called for additional research. The Food and Drug Administration issued a complete response letter for Lykos’ new drug application for its …
Mind Medicine launches new public offering to raise $75 million
New York-based Mind Medicine (Nasdaq: MNMD) announced a new public offering of roughly 9.2 million shares at $7 each, which is aimed at raising $75 million for the psychedelics company. According to the press release announcing the offering, some investors will be given the option of purchasing about 1.4 million …