Tryp Therapeutics, a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs, announced today the filing of its audited financial statements for the fiscal year ending August 31, 2021 and reported on corporate highlights from 2021. Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval, the electronic filing system for the disclosure documents of issuers across Canada, at www.SEDAR.com.
Clinical Development
Tryp achieved several significant development milestones in 2021 as the Company advanced its psilocybin-based drug programs across multiple chronic pain disorders and other indications:
Product Development
By furthering Tryp’s manufacturing capabilities and establishing critical partnerships for its proprietary TRP-8803 drug product, the Company accomplished several important objectives in 2021:
Management and Advisors
The Company succeeded in attracting high quality management team members and scientific advisors in 2021, creating a best-in-class team within psychedelic drug development:
Commenting on the Company’s progress, Chairman and CEO Greg McKee said, “This has been a banner year for Tryp Therapeutics as we accelerated our drug development activities and led the extension of psychedelics into chronic pain and other indications. Despite the headwinds that the biotech capital markets have faced in 2021, we have great optimism as we continue to advance a robust slate of clinical milestones in 2022 and beyond.”
Financial Results
The Company’s total assets as of August 31, 2021, were C$4.1 million, including C$3.7 million in cash. Net and comprehensive losses for the twelve months ended August 31, 2021, were C$8.3 million.
About Tryp Therapeutics
Tryp Therapeutics is a pharmaceutical company focused on developing psilocybin-based compounds for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp’s Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of chronic pain and other indications. The Company has announced upcoming Phase 2a clinical trials with the University of Michigan and the University of Florida to evaluate its drug products for fibromyalgia and overeating disorders, respectively. Tryp is also developing a proprietary psilocybin-based product, TRP-8803, that uses a novel formulation and route of administration to improve the patient experience. For more information, please visit www.tryptherapeutics.com.
Investor Inquiries:
Joseph Green
Edison Group
investors@tryptherapeutics.com
Media Inquiries:
Abby Berger
KCSA Strategic Communications
TRYP@KCSA.com
1-833-811-8797