Betterlife Pharma Inc - BETRF STOCK NEWS

BetterLife Pharma (CSE: BETR / OTCQB: BETRF) announced a favorable outcome in legal claims filed against the company and its subsidiary, MedMelior. The case, initiated in early 2021 by a former MedMelior director seeking US$12.5 million in damages, has concluded with no obligations for BetterLife.

The resolution came through a series of New York state and federal court dismissals on grounds of forum non conveniens. The former director's subsequent federal appeal attempt lapsed in early November after unsuccessful settlement attempts, effectively ending the legal proceedings without any payments or penalties against the company.

BetterLife Pharma has announced favorable cardiac safety data for its drug candidate BETR-001, a non-hallucinogenic derivative of LSD. The company completed GLP in vitro studies showing minimal impact on the hERG channel, important for cardiac functioning. The results align with previous in vivo cardiac safety telemetry studies and complement findings on BETR-001's activity at the 5HT-2B receptor, where it acts as an antagonist rather than an agonist. This is significant as agonism at 5HT-2B receptor is associated with cardiac valvulopathy. These positive results bring the company closer to completing IND-enabling studies and initiating clinical trials.

BetterLife Pharma has announced favorable results from IND-enabling genotoxicity studies for its lead drug candidate BETR-001, a non-hallucinogenic LSD derivative. The studies showed that oral BETR-001, even at high doses, demonstrates no bone marrow toxicity or DNA/chromosome damage. The GLP studies included bacterial reverse mutation assay and micronucleus tests both in vitro and in vivo. These safety assessments are required by the FDA for clinical trial approval. Additionally, the company issued 200,000 common shares and warrants following a $20,000 debenture conversion.

BetterLife Pharma (CSE: BETR / OTCQB: BETRF) has announced a fully subscribed non-brokered private placement of $1,100,000. The offering consists of units priced at $0.15, each comprising one common share and one full warrant. Each warrant allows the purchase of one common share at $0.20 for up to two years post-closing. The company plans to use the proceeds to advance its lead compound BETR-001, a non-hallucinogenic LSD derivative, and for general working capital. BetterLife, an emerging biotech firm, focuses on developing non-hallucinogenic LSD-based therapeutics for mental disorders. The closing is pending regulatory approvals.

BetterLife Pharma (CSE: BETR / OTCQB: BETRF) has announced the publication of its patent for treating mental or mood disorders using 2-bromo-LSD (BETR-001), a non-hallucinogenic LSD derivative. The company highlights BETR-001's advantage over traditional psychedelics, as it maintains therapeutic benefits without hallucinogenic effects. This comes after the FDA's recent rejection of MDMA for PTSD treatment due to concerns about hallucinogenic drugs.

BetterLife aims for patient self-administration of BETR-001 at home for various psychiatric and neurological disorders. The company is completing IND-enabling studies and plans to start human clinical trials soon. Additionally, BetterLife has issued 4,983,699 common shares and warrants through the conversion of convertible debentures, with 2,250,000 shares and warrants issued to CEO Dr. Ahmad Doroudian.

BetterLife Pharma, a biotech company focused on mental disorder treatments, announced the closure of a non-brokered private placement. The offering, initially announced on June 13, 2024, involved the issuance of 1,750,000 units at $0.10 per unit, raising $175,000 in gross proceeds. Each unit includes one common share and one full warrant, with each warrant allowing the purchase of an additional common share at $0.13 within 24 months. These units will be subject to a four-month hold period under Canadian securities laws.

BetterLife Pharma announced that its researchers will present preclinical data on BETR-001 at the 2024 FENS conference in Vienna. BETR-001 is a non-hallucinogenic LSD derivative targeting mental health disorders. The study, conducted by Drs. Vern Lewis and Argel Aguilar-Valles from Carleton University, reveals that BETR-001 activates key signaling pathways linked to neuroplasticity and neurotransmission, which are critical in treating depression and anxiety. Additionally, BETR-001 shows potential in addressing neurodegeneration and addiction. CEO Dr. Ahmad Doroudian expressed optimism about these findings, indicating broad therapeutic applications for BETR-001.

BetterLife Pharma, a biotech firm specializing in mental disorder treatments, has closed a non-brokered private placement, issuing 5.3 million units at $0.10 per unit. This generated $530,000 in gross proceeds. Each unit includes one common share and one warrant, with a warrant exercise price of $0.13, valid for 24 months. CEO Dr. Ahmad Doroudian subscribed for 500,000 units, categorized as a 'related party transaction.' The transaction met exemptions under MI 61-101. BetterLife plans an additional private placement tranche to raise up to $100,000.

BetterLife Pharma, an emerging biotech company, announced successful completion of its animal GLP cardiopulmonary safety study for BETR-001, a non-hallucinogenic derivative of LSD. The study showed no significant safety issues at doses over 100 times the projected starting dose for human trials. Key findings include no effects on ECG, respiratory parameters, body temperature, and activity levels. BETR-001's safety profile contrasts with LSD and psilocybin, known for cardiac toxicity due to 5-HT2B receptor agonism. BetterLife plans to file the BETR-001 IND by the end of 2024. Additionally, the company issued over 1 million common shares and warrants as part of a convertible debenture conversion totaling $103,534.20, with warrants exercisable at $0.10 per share until December 2025.