FTRP - FTRP STOCK NEWS

Reunion Neuroscience Inc. (formerly Field Trip Health Ltd.) successfully completed its corporate reorganization, separating into two companies: Reunion Neuroscience and Field Trip Health & Wellness. Reunion focuses on developing its novel psychedelic drug, RE104, with a Phase 1 clinical study commenced in July 2022. As of June 30, 2022, Reunion reported a net loss of $5.2 million and had $52.3 million in cash and investments. Field Trip Health & Wellness achieved $1.8 million in revenue, marking a 110% increase year-over-year, despite incurring a net loss of $8.2 million from clinic operations.

Reunion Neuroscience Inc., previously known as Field Trip Health Ltd., has undergone a significant corporate reorganization effective August 11, 2022. Shareholders exchanged their shares for Reunion Shares and received shares in Field Trip Health & Wellness Ltd.. Following this, Reunion will trade under the new ticker symbol REUN on NASDAQ and the Toronto Stock Exchange, while Field Trip Health & Wellness is set to be listed under FTHW on the TSX Venture Exchange. The financing from a private placement has secured $19.9 million for operational growth.

Field Trip Health Ltd. (FTRP) has announced the conditional listing approval for its spinout transaction into Field Trip Health & Wellness Ltd. (FTHW). The arrangement entails shareholders receiving 0.8598 FTHW shares for every FT share held. The effective date is set for August 11, 2022, and trading of FTHW shares is expected to commence on August 17, 2022, under the symbol 'FTHW'. Concurrently, Field Trip will be rebranded as Reunion Neuroscience Inc. and will continue trading under the symbol 'REUN'. Field Trip H&W plans to secure approximately $20 million in private financing.

Field Trip Health Ltd. has achieved a significant milestone with the first dosings completed in its Phase 1 clinical study of FT-104 in Australia. This proprietary compound is designed to treat depression and has shown promising pre-clinical results. The company will rename itself Reunion Neurosciences and undergo a 5:1 share consolidation following a successful spin-out of its clinic division. The Phase 1 study results are expected in Q4-2022, with plans for Phase 2 studies in 2023, showcasing its commitment to advancing psychedelic therapies.

Field Trip Health Ltd. (FTRP) has announced its intention to split into two independent public companies following a strategic review. The company reported a fiscal Q4 revenue of $1.72 million, a 26.7% increase quarter-over-quarter and a 228% year-over-year increase. Full-year revenues reached $4.86 million. The company holds approximately $63.7 million in cash. A patent for the novel psychedelic molecule FT-104 was granted. However, the company recorded a net loss of $14.17 million for Q4 and $54.69 million for the full year, highlighting significant operational costs.

Field Trip Health Ltd. (TSX: FTRP, Nasdaq: FTRP) announced on June 29, 2022, that it received final court approval for the spin-out of its clinic business to Field Trip Health & Wellness Ltd. The completion of this arrangement is contingent upon regulatory approvals, with an expected closing in August 2022. Shareholders will receive shares in the new entity, which will operate under the name 'Reunion Neuroscience Inc.' Additionally, the company has closed a private placement of subscription receipts generating C$2.1 million for operational expenses.

Field Trip Health Ltd. has received shareholder approval for the spin-out of its clinic business to Field Trip Health & Wellness Ltd. This decision, announced on June 27, 2022, is pending final court approval and other customary closing conditions. During the special meeting, 47.25% of outstanding shares were represented, with significant majority support: 99.85% for the Arrangement Resolution. Concurrently, Field Trip H&W plans to raise up to $23.74 million via private placements. Following the spin-out, the parent corporation will be renamed Reunion Neuroscience Inc. and remain listed on major exchanges.

Field Trip Health Ltd. (FTRP) announced its upcoming fiscal fourth quarter and full year financial results on June 29, 2022. Following this, a conference call will be held on June 30, 2022, at 8:30 a.m. ET. The company has received a notification from Nasdaq regarding non-compliance with minimum bid price requirements, as its stock has traded below $1.00 for 30 consecutive days. Field Trip has until December 13, 2022, to regain compliance. A share consolidation plan is in place to address this issue, requiring shareholder approval on June 27, 2022.

Field Trip Health Ltd. (TSX: FTRP) announced an increase in its investment in the spin-out, Field Trip Health & Wellness Ltd. (SpinCo), from $5 million to $9.8 million. This investment will allow Field Trip to own 21.79% of SpinCo's shares post-arrangement, raising total proceeds to SpinCo to $20 million. The special meeting for shareholders has been postponed to June 27, 2022, allowing time to review new information. The arrangement's completion is expected in mid-July 2022, with significant implications for shareholders and the funding of SpinCo's operations.