Filament Health Corp (NEO:FH, OTCQB:FLHLF) has hailed expansion of its substance abuse treatment to researchers across the world in first-quarter results.
PEX010, Filament’s botanical psilocybin drug candidate, is now authorized for investigation in 31 trials for 13 mental health indications, chief executive Benjamin Lightburn said in the results on Wednesday.
This follows exports to Canada, the United States, Belgium, and Israel over the period for use in studies on the likes of depression, anxiety, as well as cannabis and alcohol abuse.
“We have continued to advance Filament's drug development efforts in substance use disorders, as evidenced by the opening of our first IND (investigational new drug application) with the FDA in the United States,” Lightburn said.
“We expanded our network of licensing partners to new jurisdictions around the globe,” he added.
Exports to Israel and Australia over the quarter were believed to mark the first botanical psilocybin shipments to the countries respectively, the company noted.
Cash and equivalents stood at US$872,048 as of March, Filament added, with working capital of US$359,664.
Revenue was US$297,932 for the quarter, while US$949,606 was spent on operating activities.