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Psyence Biomedical Ltd. Common Shares - PBM STOCK NEWS

Welcome to our dedicated page for Psyence Biomedical Ltd. Common Shares news (Ticker: PBM), a resource for investors and traders seeking the latest updates and insights on Psyence Biomedical Ltd. Common Shares stock.

Psyence Biomedical Ltd (NASDAQ: PBM) is a pioneering life science biotechnology company focused on the development of natural psychedelics for mental health and wellbeing, particularly in the context of palliative care. The company's primary area of research involves developing natural psilocybin products aimed at addressing psychological trauma and its mental health consequences.

Psyence Biomed cultivates natural psilocybin mushrooms at its ISO22000 certified facility in Southern Africa. These mushrooms are used to produce standardized encapsulated products for export to partners around the world. The company is dedicated to advancing its product candidates through rigorous clinical trials to evaluate their safety and efficacy.

Recently, Psyence Biomed has initiated a double-blind, placebo-controlled Phase IIb clinical trial in Australia, testing three doses (25mg, 10mg, and 1mg) of nature-derived psilocybin in combination with psychotherapy. This study aims to improve the quality of life for patients suffering from Adjustment Disorder, especially those with life-limiting illnesses. The primary endpoint of the trial is the change in the Hamilton Anxiety Rating Scale (HAM-A) over time. The company's partnership with the Contract Research Organization (CRO) iNGENū Pty Ltd is crucial for executing this trial. Psyence expects to enroll the first patient in Q2 2024, with primary endpoint results anticipated in 2025.

The approval from Australia's Human Research Ethics Committee (HREC) is a significant milestone for Psyence Biomed, allowing the company to proceed with this groundbreaking trial. CEO Dr. Neil Maresky emphasized the potential for this research to revolutionize the treatment of patients with life-limiting illnesses, highlighting both the clinical and economic benefits of psilocybin-assisted psychotherapy.

Psyence Biomed's research is further validated by a recent independent study from Hebrew University, which found that nature-derived psilocybin may offer more potent and prolonged therapeutic effects compared to synthetic variants. This positions Psyence Biomed as a leader in the field of nature-derived psychedelic medicine.

Financially, Psyence Biomed is well-capitalized, with up to US$10 million in cash and equivalents, sufficient to complete the Phase IIb study. The company's strategic merger with Newcourt Acquisition Corp. and subsequent listing on NASDAQ have expanded its access to capital and increased its visibility among institutional life sciences investors.

In summary, Psyence Biomedical Ltd stands at the forefront of the biotechnology sector, leveraging natural psychedelics to address significant unmet medical needs. With a robust clinical trial pipeline, strong financial backing, and strategic partnerships, Psyence Biomed is well-positioned to make a substantial impact on the field of mental health and palliative care.

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Psyence Biomedical (Nasdaq: PBM) has entered into a worldwide, exclusive royalty-bearing IP licensing agreement with PsyLabs to supply pharmaceutical-grade, EU GMP nature-derived psilocybin for potential treatment of Alcohol Use Disorder (AUD) and other Substance Use Disorders (SUDs). Psyence Biomed plans to focus on AUD as its second development indication, following its first indication of Adjustment Disorder in advanced cancer patients. The licensed product requires further development by PsyLabs throughout 2024 and into 2025.

In 2021, 44.4 million adults in the U.S. had substance or alcohol use disorders, highlighting the significant need for new treatment options. Previous academic studies have shown promise for psilocybin combined with psychotherapy in treating AUD and SUDs.

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Psyence Biomedical (Nasdaq: PBM) announced that the SEC has declared effective its registration statement for a $25 million equity line of credit (ELOC) with White Lion Capital, This 24-month arrangement allows Psyence Biomed to sell up to $25 million in shares to White Lion, subject to certain conditions.

Dr. Neil Maresky, CEO of Psyence Biomed, stated that this funding source will support the company's preparation for a Phase IIb clinical trial of nature-derived, non-synthetic psilocybin as a potential treatment for Adjustment Disorder in Palliative Care. The company also plans to advance other long-term growth initiatives.

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Psyence Biomedical (Nasdaq: PBM), a developer of nature-derived psilocybin-based therapeutics, has announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event is scheduled for September 9th-11th, 2024 at the Lotte New York Palace Hotel in New York City.

Key points:

  • Psyence Biomed will present virtually and engage in one-on-one investor meetings
  • The company's corporate presentation will be available on-demand from September 9th at 7:00 am (ET)
  • Interested parties can schedule meetings with management by emailing ir@psyencebiomed.com

This participation provides an opportunity for Psyence Biomed to showcase its developments in psilocybin-based therapeutics to a global investment audience.

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Optimi Health Corp. (CSE: OPTI) and Psyence Biomedical (NASDAQ: PBM) have signed a non-binding Letter of Intent (LOI) for a strategic partnership. Under this arrangement, Optimi would become the exclusive supplier of GMP nature-derived psilocybin extract for Psyence's global drug development initiatives, focusing on FDA-approved use in Palliative Care.

Key points of the LOI include:

  • Optimi to provide comprehensive CMC support for regulatory submissions and future IND applications
  • Psyence to obtain exclusive rights to Optimi's drug candidate for Palliative Care treatment
  • Collaboration aims to advance psilocybin-based therapies and quality science
  • Focus on Adjustment Disorder in the context of Palliative Care

Both companies' CEOs expressed enthusiasm for the potential partnership, highlighting its strategic importance in advancing psychedelic-based mental health therapies.

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Psyence Biomedical (Nasdaq: PBM) has entered into a $25 million common stock purchase agreement with White Lion Capital, This 24-month agreement allows Psyence Biomed to sell up to $25 million in shares to White Lion, subject to certain conditions. The purchase price will be 90% of the lowest VWAP for Fixed Purchase Notices and the lowest traded price for Rapid Purchase Notices. White Lion has agreed not to engage in short selling Psyence Biomed's shares. The agreement can be terminated by Psyence Biomed at any time without penalty.

This funding will support Psyence Biomed's upcoming Phase IIb clinical trial of nature-derived, non-synthetic psilocybin for Adjustment Disorder in Palliative Care, as well as earlier-stage programs in other indications.

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Psyence Biomedical (Nasdaq: PBM) has announced the successful export of nature-derived psilocybin to Australia for its upcoming Phase IIb clinical trial. The trial will evaluate psilocybin as a potential treatment for Adjustment Disorder in advanced cancer patients in Palliative Care. The study, supported by partnerships with Fluence and iNGENū, is set to begin shortly.

The randomized, double-blind, placebo-controlled trial will assess two therapeutic doses (10mg, 25mg) against a 1mg active comparator in 84 patients. Psyence Biomed has terminated its commercial licensing agreement with Filament Health but is evaluating new supply agreements. The company remains committed to its development timeline and introducing a novel therapy efficiently.

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Psyence Biomedical (Nasdaq: PBM) has received a notification from the Nasdaq Stock Market regarding non-compliance with the minimum bid price requirement. The company’s stock price has remained below $1.00 for 30 consecutive business days, thus failing to meet the criteria set by Nasdaq Listing Rule 5450(a)(1). Psyence has until December 24, 2024, to regain compliance by ensuring its closing bid price hits at least $1.00 for ten consecutive business days. Failure to meet this deadline may result in delisting, though the company can apply for additional time by submitting an online transfer application and paying a $5,000 fee. Options include meeting all other listing standards and potentially implementing a reverse stock split. The notification does not cause immediate delisting, and trading will continue under the symbol 'PBM'.

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Psyence Biomedical announced its participation in the A.G.P. Virtual Healthcare Company Showcase on May 21, 2024. The company's management will host one-on-one meetings with investors during the event. This provides an opportunity for investors to engage directly with the company's leadership and gain insights into Psyence Biomed's business strategy and future plans.

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Psyence Biomedical (Nasdaq:PBM) announced the listing of its Phase IIb clinical trial on the Australian New Zealand Clinical Trials Registry (ANZCTR) for nature-derived psilocybin in patients with Adjustment Disorder post-cancer diagnosis. The study will test three doses in 84 patients with psychotherapy, with primary results expected in 2025.
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Psyence Biomedical announces a partnership with Fluence and iNGENū for a Phase IIb clinical trial on psilocybin-assisted psychotherapy for Adjustment Disorder in oncology patients. The trial aims to evaluate the efficacy and safety of this therapy for patients with depression and anxiety following a cancer diagnosis.
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FAQ

What is the current stock price of Psyence Biomedical Ltd. Common Shares (PBM)?

The current stock price of Psyence Biomedical Ltd. Common Shares (PBM) is $0.0762 as of November 8, 2024.

What is the market cap of Psyence Biomedical Ltd. Common Shares (PBM)?

The market cap of Psyence Biomedical Ltd. Common Shares (PBM) is approximately 4.6M.

What does Psyence Biomedical Ltd specialize in?

Psyence Biomedical Ltd specializes in developing natural psilocybin products for mental health and palliative care.

Where is Psyence Biomed listed?

Psyence Biomed is listed on the NASDAQ under the ticker symbol PBM.

What is the focus of Psyence Biomed's current clinical trials?

The current focus is on a Phase IIb clinical trial in Australia, evaluating the efficacy of nature-derived psilocybin in treating Adjustment Disorder in palliative care patients.

Who are Psyence Biomed's main partners for clinical trials?

Psyence Biomed partners with iNGENū Pty Ltd, an experienced Contract Research Organization (CRO) specializing in psychedelic pharmaceutical drug research.

What recent achievements has Psyence Biomed made?

Psyence Biomed recently received Human Research Ethics Committee (HREC) approval for their Phase IIb clinical trial and partnered with iNGENū for its execution.

What is the significance of the Hebrew University study for Psyence Biomed?

The study found that nature-derived psilocybin may offer more potent and prolonged therapeutic effects than synthetic variants, validating Psyence Biomed's research focus.

How is Psyence Biomed financially positioned?

Psyence Biomed is well-financed with up to US$10 million in cash and equivalents, enough to complete its current Phase IIb clinical trial.

What is the primary endpoint of Psyence Biomed's current clinical trial?

The primary endpoint is the change in the Hamilton Anxiety Rating Scale (HAM-A) over time.

What markets does Psyence Biomed operate in?

Psyence Biomed operates globally, exporting its natural psilocybin products to partners worldwide for clinical research and development.

What is the long-term vision of Psyence Biomed?

Psyence Biomed aims to be a leader in developing evidence-based, natural psilocybin therapeutics to treat a broad range of mental health disorders, particularly in palliative care.

Psyence Biomedical Ltd. Common Shares

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