XPHYF - XPHYF STOCK NEWS

XPhyto Therapeutics Corp. (XPHYF) is expanding its footprint in the psychedelics market, highlighting recent agreements for the production of pharmaceutical-grade psychedelic compounds. The company's subsidiary, XPhyto Laboratories, has partnered with Applied Pharmaceutical Innovation to develop standardized manufacturing processes, addressing anticipated supply shortages. Notably, mescaline production has been added to its programs, alongside psilocybin initiatives aimed at treating mental health disorders. The growing acceptance of psychedelics in the mental health community presents significant business opportunities for XPhyto.

XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF) has completed a corporate rebranding and launched a new website as of March 4, 2021. This rebranding underscores its commitment to advancing product development, notably its rapid point-of-care COVID-19 PCR test system, which is nearing ISO certification and CE-IVD approval. The company aims to enhance value through commercialization and innovation, as it targets the European market for medical products. However, it cautions that its COVID-19 testing products are still under regulatory review and not yet approved.

XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) has issued a statement addressing recent promotional activities, particularly a newsletter from WallStreetAlerts. The company acknowledges its previous non-compliance with CSE disclosure requirements regarding third-party promotional contracts but has now submitted the necessary forms. To ensure transparency, XPhyto plans to adopt a public disclosure policy for promotional communications, requiring board and legal approval. Over the past year, XPhyto paid approximately $4.94 million to third-party providers. The company clarifies that its COVID-19 tests are not yet approved and do not claim to cure the virus.

XPhyto Therapeutics Corp. (XPHYF) has announced the formation of an experienced commercial team to launch its 25-minute COVID-19 RT-PCR test, known as Covid-ID Lab. Developed in partnership with 3a-diagnostics GmbH, the rapid testing system delivers definitive results in just 25 minutes. XPhyto aims to secure ISO 13485 approval by February's end and plans for European regulatory approval by early March. With the rising demand for effective testing, the company anticipates a significant market opportunity, positioning itself as a potential leader in COVID-19 diagnostics.

XPhyto Therapeutics Corp (CSE:XPHY, OTCQB:XPHYF) has placed its first order for Covid-ID Lab, a rapid point-of-care SARS-CoV-2 (COVID-19) RT-PCR test system, consisting of 9,600 tests. The tests will be manufactured in Germany, with delivery expected by mid-March 2021. XPhyto aims to launch the product in Europe by April 2021, targeting regulatory approval for medical use. Additionally, the company is developing oral biosensor tests for various infectious diseases and plans to commercialize its first biosensor product in the latter half of 2021.

XPhyto Therapeutics (CSE:XPHY / OTCQB:XPHYF) has established a commercial team to launch its point-of-care SARS-CoV-2 RT-PCR test, Covid-ID Lab, with expected regulatory approvals approaching. Developed in collaboration with 3a-diagnostics, the test is designed for rapid and accurate COVID-19 screening, with its initial launch in Europe targeted for April 2021. The team boasts extensive experience in medical diagnostics, aiming to leverage their expertise for effective commercialization. Additionally, XPhyto is developing a range of oral biosensor tests, with market introductions anticipated later in 2021.

XPhyto Therapeutics Corp (CSE:XPHY, OTCQB:XPHYF, FSE:4XT) announced a lawsuit against its German subsidiary, Vektor Pharma TF GMBH. The claim, made by a former client, alleges a breach of a development agreement with damages estimated at 1 million Euros. XPhyto believes the claim lacks merit and will defend Vektor vigorously. They filed a notice of defense in a German court. The corporation does not expect the lawsuit to materially impact its business. Updates will be provided as the case progresses.

XPhyto Therapeutics Corp (CSE:XPHY, OTCQB:XPHYF) has successfully completed all actions for its European regulatory application for the Covid-ID Lab, a rapid point-of-care SARS-CoV-2 RT-PCR Test System. 3a-diagnostics GmbH, XPhyto's partner, anticipates receiving ISO 13485 certification by late February and CE-IVD approval by early March, with a sales launch in Europe planned for April 2021. Additionally, XPhyto is developing oral biosensor tests targeting various infectious diseases, aiming for a product launch in the second half of 2021.

XPhyto Therapeutics Corp has announced the addition of mescaline production to its psychedelic medicine programs through its subsidiary, XPhyto Laboratories. This expansion aligns with the company's goal to develop industrial-scale production and deliver pharmaceutical-grade mescaline, recognized for its potential in treating addiction and depression. The company aims to standardize dosage formulations for clinical and therapeutic use. XPhyto believes this move will significantly enhance its portfolio and market opportunities in the psychedelic drug space.