September 27, 2021 -- InvestorsHub NewsWire -- via NetworkNewsWire
Editorial Coverage: The emergence of psychedelic therapies as a
popular investment a few years ago was mostly underscored by
investors that rode the cannabis wave seeing a brand-new
opportunity with drugs such as psilocybin, LSD, MDMA, DMT, and
others to address hard-to-treat mental health diseases, namely
depression, addiction, post-traumatic stress disorder and anxiety.
As strides are being made on those fronts, a second investment wave
is swelling on the horizon that looks to feature expanded
indications and bring new therapeutic options to diseases with
unmet needs. Psychedelics could redefine standards of care for
chronic diseases and reshape psychiatry, including counseling
practices, among other things. Tryp Therapeutics Inc.
(CSE: TRYP)
(OTCQB:
TRYPF) (Profile) is leading this next wave of
psychedelic drug development beyond mental health into chronic pain
and eating disorders as the company advances its clinical programs.
With a diverse approach, Tryp is joined by a short list of brand
name leaders in psychedelics that includes ATAI
Life Sciences N.V. (NASDAQ:
ATAI), COMPASS Pathways
Plc (NASDAQ:
CMPS), Mind
Medicine (MindMed) Inc. (NASDAQ:
MNMD) (NEO:
MMED) (DE:
MMQ) and Cybin
Inc. (NEO:
CYBN) (NYSE American:
CYBN), all of which are making significant strides
towards validating the legitimate potential of a wide range of
psychedelic-based treatment regimens.
- Psychedelic drugs are amid a renaissance that will see revenues
rise from $2.82 billion in 2020 to $7.57 billion by 2028
- Tryp Therapeutics is pursuing five indications in chronic pain
and other indications with total estimated annual sales potential
of more than $12 billion
- Tryp has announced the submission of an investigational new
drug (“IND”) application for its Phase 2a clinical trial in
overeating disorders, is preparing to file another IND for a Phase
2a clinical trial targeting fibromyalgia
- Tryp has partnered with the University of Florida to conduct a
Phase 2a trial for overeating disorders, and with the University of
Michigan for its fibromyalgia clinical trial
Click here to view the custom infographic of
the Tryp Therapeutics
Inc. editorial.
New Opportunities Unlocking Value
Market analysts are bullish on the rapid growth in the global
psychedelic drugs market. Data Bridge
Market Research foresees a 13.3% compound annual growth
rate for the market to rise from $2.82 billion in 2020 to $7.57
billion by 2028. Analysts at Data Bridge see a rising prevalence of
depression and anxiety as key drivers. Again, while depression and
anxiety indeed represent blockbuster drug potential and huge
addressable markets, they are only scratching the surface.
On Wall Street, investors are putting premium dollars on
psychedelic companies within the biotech industry. Per Psilocybin
Alpha, the aggregate value of psychedelic companies listed on the
NYSE and NASDAQ exceeds $7
billion.
Innovative companies are looking outside the box to
differentiate themselves from the pack and capitalize on the robust
therapeutic properties of psychedelics. For instance, research is
underway to evaluate the use of psychedelics for Parkinson’s
disease, Alzheimer’s and other forms of dementia where there are
currently limited options with diminishing returns to address the
symptoms. While not being used for cancer, psychedelics are being
evaluated to help patients better manage grief associated with
cancer diagnoses.
Tryp
Therapeutics Inc. (CSE: TRYP)
(OTCQB:
TRYPF) is pursuing five indications in chronic pain and
other indications with total estimated peak worldwide sales
potential of more than $12 billion. Tryp expects to initiate two
Phase 2a studies in 2021 and two more in early 2022 focusing on
these indications. Despite four upcoming mid-stage clinical trials,
the company remains relatively unsung among its much higher
capitalized peers, as evidenced by a market capitalization under
C$25 million.
In addition to leading a second wave of innovation extending
beyond mental health disorders, Tryp distinguishes itself by
developing its proprietary psilocybin-based drug product. The
company’s drug candidates currently in development include
TRP-8802, a standard oral form of synthetic psilocybin, and
TRP-8803, a patent-pending formulation with a novel route of
administration that is expected to improve the patient
experience.
Tryp can also trumpet an exclusive supply chain by which it
procures active ingredients and drug products in quantities
sufficient for clinical trials and commercialization, should the
drug be approved. This is a rare capability among psychedelic
drug-development companies. The integrated cGMP supply chain
affords Tryp another unique opportunity with potential to act as a
supplier of synthetic psilocybin to the global research
community.
Blockbuster Opportunities in Pain Treatment
ResearchandMarkets.com estimates revenue in the global chronic
pain treatment market to progress 6.5% annually from 2020 to
reach $151.7
billion in 2030. Tryp is focusing its efforts on areas of
unmet medical need in this space, targeting fibromyalgia, phantom
limb pain and complex regional pain syndrome, each of which are
blockbuster opportunities with the potential to generate over $1
billion in annual peak sales. Tryp intends to submit an
investigational new drug (“IND”) application with the FDA for
a Phase 2a
clinical trial with the University of Michigan in
fibromyalgia patients during Q4 of this year.
The National
Fibromyalgia Association estimates more than 10 million
Americans suffer from fibromyalgia. Existing treatments, such as
prescription opioids, exercise and stress management, are mostly
ineffective at best and deadly at worst considering opioids are
commonly prescribed to help patients with their pain. This is a
market ripe for disruption by psychedelics, with reason for
optimism as anecdotal
evidence is mounting that supports the potential
usefulness of psilocybin for fibromyalgia.
Going forward, Tryp intends to pursue clinical research in
phantom limb pain and complex regional pain syndrome (“CRPS”). It
is estimated that 1 million people in the United States suffer from
phantom limb pain, including more than 60% of
amputees. CRPS results from a misfiring of pain signals in the
brain after injury, surgery, stroke or heart attack. A rare
disease, about 200,000
people in the U.S. are affected by CRPS each year. As with
fibromyalgia, existing treatments leave a lot to be desired.
Overeating Disorders and a Major Milestone
After recently filing an IND application with the FDA, Tryp is
staring at another major milestone. The company anticipates that
its first clinical trial evaluating TRP-8802 will begin enrollment
and dosing patients in Q4 of this year. This Phase 2a study will
evaluate patients with overeating conditions including binge eating
disorder and hypothalamic obesity. For the trial, Tryp has
partnered with a leading expert in the eating disorder space, Dr.
Jennifer Miller at the University of Florida Division of
Endocrinology.
Affecting up to 3.5% of
females and 2.0% of males, binge eating disorder is a result of
addictive behaviors toward food that can be difficult for patients
to break. Hypothalamic obesity is characterized by damage to the
hypothalamus, the part of the brain that produces hormones that
control hunger. This disorder is estimated to affect less than
5,000 people in the U.S. every year, yet there are no available
treatment options for the disease. This means that Tryp could
potentially utilize all available accelerated FDA development
pathways.
Reaching Milestones Reduces Risk, Increases
Value
In the course of drug development, there are key milestones with
each human study including submitting an IND with and receiving
acceptance by the FDA; enrolling the first patient in the trial;
and then the final data readout at the end of a clinical trial. The
FDA’s expected green light to move forward with the University of
Florida study places Tryp in an elite group of companies conducting
Phase 2 trials for psychedelic drugs, and positions the company as
a pioneer in the field of psychedelics for chronic pain and
overeating disorders.
There are no assurances in clinical trials, but a drug moving
through the clinical progression tends to build value for a company
with each major milestone that is reached because of the potential
for future revenue. Effectively, the risk profile decreases
incrementally with each positive development, so shares rise, much
like NASDAQ-listed Vaxart’s did on August 2, 2021, with an IND
approval.
Phase 1 studies are performed to prove a drug is safe. Phase 2
determines the efficacy at specific dosing levels for specific
indications. Phase 3 is similar to Phase 2 in purpose, only
evaluating larger patient populations. In Tryp’s case, the safety
profile of psilocybin is well established, meaning the company can
bypass Phase 1 and proceed right into Phase 2 trials. If the
company meets its goals of initiating four clinical trials by the
first half of 2022, Tryp could be on par with companies with market
capitalizations that are 10-fold (or more) larger than its own.
The Psychedelic Renaissance Is Now
The renaissance in psychedelic research is upon us after decades
of being on the back burner with a resurgence in clinical work that
has provided compelling data for mental health indications in
studies involving hundreds of patients. Look for that to continue
and for clinical studies to continue unlocking the therapeutic
potential of psychedelics beyond mental health.
ATAI
Life Sciences N.V. (NASDAQ:
ATAI) which counts PayPal founder Peter Thiel as
an investor, was founded in 2018 to accelerate development of
psychedelic drugs and companies. The Germany-based company has its
hands in many different drugs via investments in nearly a dozen
companies at various stages of development. On September 14, ATAI
announced the initiation of a Phase 2a clinical study to evaluate
the safety and efficacy of PCN-101 (R-ketamine). R-ketamine is a
stereoisomer of ketamine being developed for therapeutic treatment
of psychiatric disorders such as treatment resistant
depression.
COMPASS Pathways
Plc (NASDAQ:
CMPS) is one of the best-known names in the
psychedelics business. The company has the psychedelic community
watching for results from its Phase 2b clinical trial, which is the
largest human trial of synthetic psilocybin to date, enrolling 233
patients with treatment resistant depression across 22 sites in 10
countries. Topline data is expected during the fourth quarter.
Mind
Medicine (MindMed) Inc. (NASDAQ:
MNMD) (NEO:
MMED) was the third brand-name company to list on
Nasdaq over the past year, following COMPASS and ATAI. Most
recently MindMed has agreed to work with NASDAQ-listed Forian Inc.,
a leading provider of evidence-based support for more comprehensive
clinical and commercial decision-making. MindMed and Forian will
collaborate to develop best practices for using real-world evidence
information to help improve the health and lives of psychiatric
patients.
Cybin Inc. (NEO:
CYBN) (NYSE American:
CYBN), which has only been public since November 2020,
made the move to a senior exchange last month, graduating to the
NYSE American on August 5, 2021. Cybin’s current indications in its
psychedelic pipeline include major depressive disorder (CYB001),
alcohol use disorder (CYB003) and anxiety disorders (CYB004). In
addition, two programs in the research phase (CYB005 and CYB006)
involved synthesis and testing of more than 50 novel compounds
coupled with extensive in-vitro and in-vivo pharmacokinetic,
receptor binding, behavioral and safety evaluations.
For proponents, the stigma fading away from psychedelics is
brilliant progress allowing clinical trials to start reaching an
advanced stage. That means the world sits at an inflection point
and on the cusp of normalization of physician-administered
psychedelic drugs, and these are some of the companies that are
shepherding that transition.
For more information about Tryp Therapeutics, please
visit Tryp
Therapeutics Inc.
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and
content distribution company, one of 50+ brands within
the InvestorBrandNetwork (“IBN”), that
provides: (1) access to a network of wire
solutions via InvestorWire to reach all target markets,
industries and demographics in the most effective manner
possible; (2) article and editorial
syndication to 5,000+ news outlets; (3)
enhanced press release solutions to ensure maximum
impact; (4) social media distribution via IBN
millions of social media followers; and (5) a
full array of corporate communications solutions. As a multifaceted
organization with an extensive team of contributing journalists and
writers, NNW is uniquely positioned to best serve private and
public companies that desire to reach a wide audience comprising
investors, consumers, journalists and the general public. By
cutting through the overload of information in today’s market, NNW
brings its clients unparalleled visibility, recognition and brand
awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text
“STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the
NetworkNewsWire website applicable to all content provided by NNW,
wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by NNW are
solely those of NNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable NNW for any investment
decisions by their readers or subscribers. NNW is a news
dissemination and financial marketing solutions provider and are
NOT registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, NNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
NNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and NNW undertakes no
obligation to update such statements.
SOURCE: NetworkNewsWire
Editorial Coverage
Tryp Therapeutics (CSE:TRYP)
Historical Stock Chart
From Nov 2024 to Dec 2024
Tryp Therapeutics (CSE:TRYP)
Historical Stock Chart
From Dec 2023 to Dec 2024
