Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) Leading Next Wave of Psychedelic Drug Development

Rhea-AI Summary

Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) announces plans to pursue five chronic pain indications with an estimated peak sales potential exceeding $12 billion. The company aims to launch two Phase 2a studies in 2021, followed by two more in early 2022. Currently, its market capitalization is under C$25 million. Tryp's PFN program focuses on synthetic psilocybin to treat neuropsychiatric disorders, with TRP-8802 targeting fibromyalgia affecting over five million in the U.S., and TRP-1001 for soft-tissue sarcoma. The initiatives aim to address unmet medical needs in the therapeutic landscape.

Positive

• Pursuing five chronic pain indications with total peak sales potential exceeding $12 billion.
• Plans to initiate two Phase 2a studies in 2021 and two more in early 2022.
• Development of TRP-8802 targeting fibromyalgia, a condition affecting over five million people in the U.S.
• TRP-1001 being developed for soft-tissue sarcoma, qualifying for orphan drug status.

Negative

• Market capitalization remains under C$25 million, indicating potential undervaluation compared to peers.
• Company remains relatively unknown among higher capitalized competitors despite significant initiatives.

NEW YORK, Sept. 30, 2021 (GLOBE NEWSWIRE) -- NetworkNewsAudio – Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) announces the availability of a broadcast titled, “Investors Turning to Psychedelic Market as Renaissance Continues into New Wave of Diseases.”

To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast

To view the full editorial, please visit: https://ibn.fm/uFQY9

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.

About Tryp Therapeutics Inc.

Tryp Therapeutics is a pharmaceutical company focused on developing compounds with known activity and safety profiles for the treatment of rare and other diseases with unmet medical needs. Tryp’s psilocybin-for-neuropsychiatric disorders, or PFN(TM) (“PFN”), program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric-based disorders. Tryp’s lead PFN drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than five million people in the United States. The company is also preparing to initiate a phase 2a clinical study for eating disorders in partnership with Dr. Jennifer Miller at the University of Florida. In addition to its PFN program, Tryp is developing TRP-1001, an oral formulation of razoxane for the treatment of soft-tissue sarcoma. Soft-tissue sarcomas are a rare and diverse group of tumors that account for about 1% of all cancers in adults and 7% in children. Based on the prevalence of soft-tissue sarcomas in the United States, Tryp believes it is a rare disease and that TRP-1001 should qualify for orphan drug status.

For more information about the company, please visit www.TrypTherapeutics.com.

NOTE TO INVESTORS: The latest news and updates relating to TRYP are available in the company’s newsroom at https://ibn.fm/TRYPF.

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FAQ

What are the latest developments for Tryp Therapeutics (TRYPF) regarding chronic pain treatments?

Tryp Therapeutics is pursuing five chronic pain indications with over $12 billion in peak sales potential and plans to initiate multiple Phase 2a studies.

How is Tryp Therapeutics addressing neuropsychiatric disorders?

The company is developing synthetic psilocybin, particularly TRP-8802, for treating fibromyalgia and other neuropsychiatric conditions.

What is the market potential of Tryp Therapeutics' drug candidates?

Tryp's initiatives have an estimated peak worldwide sales potential exceeding $12 billion.

When does Tryp Therapeutics plan to start their Phase 2a studies?

Tryp Therapeutics plans to begin two Phase 2a studies in 2021 and two more in early 2022.

What is the current market capitalization of Tryp Therapeutics (TRYPF)?

As of the latest update, Tryp Therapeutics has a market capitalization under C$25 million.