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Sunday, April 18, 2021

Shroom Boom; Big Things Happening at psychedelic Innovator Field Trip Health Ltd (CNSX: FTRP) (OTC: FTRPF)

Field Trip Health Ltd (CNSX: FTRP) (OTC: FTRPF) is making a powerful run up the charts in recent months emerging as a volume leader in small caps as the shroom boom is upon us and stocks in the psychedelic space see rapid gains. Field Trip Health has successfully cultivated 24 varieties (from 13 different species) of psilocybin-producing fungi and truffles in a temporary facility at UWI’s Mona Campus, and in October 2020, Field Trip substantially completed construction of a 2,072 sq. ft. custom-built research and cultivation facility situated on UWI’s Mona campus. The Company’s  first drug candidate FT-104, is a novel synthetic psychedelic molecule and is is concurrently undergoing optimization and cGMP scale-up, as well as pre-clinical evaluation, both of which are expected to be completed by June 2021. Field Trip anticipates that FT-104 will enter into Phase 1, clinical trials in the second half of calendar year 2021.

Field Trip Health is an emerging leader in the booming psychedelic space projected to be worth at least $6.9 billion by 2027. Stocks in the sector are seeing rapid gains as Compass Pathways recently made an historic IPO on the NASDAQ. Several clinical trials are underway in the United States and worldwide to investigate the therapeutic effects of psilocybin, and there is new hope for treating such debilitating disorders as depression, anxiety, post-traumatic stress disorder, anorexia, obsessive-compulsive disorder, and addiction.

Field Trip Health Ltd (CNSX: FTRP) (OTC: FTRPF) is the global leader in the development and delivery of psychedelic therapies. With the Company’s Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world. The Company has savy marketing exccutives behind it who have already gotten the Company featured in Forbes, the Economist, Bloomberg and CNBC.

Field Trip Health has an excelent cash position which may top CAD $30 million after the bought deal offering. The Company is well-positioned to execute on its corporate strategy of building an integrated psychedelics company through its Field Trip Discovery and Field Trip Health Divisions. Field Trip Discovery’s focus includes: continued development of FT-104, its first drug candidate, which is a novel synthetic psychedelic molecule; and advanced research and cultivation on psilocybin producing fungi at its Jamaica research facility at The University of West Indies (Mona) in Jamaica; UWI. Field Trip Health’s focus is on building out the clinical infrastructure needed to deliver psychedelic therapies at scale, with current and announced locations in Toronto, New York, Los Angeles, Chicago, Amsterdam, Atlanta, GA and Houston, TX; and developing digital tools to enhance and optimize the therapeutic experience in its Field Trip Health Centers and beyond, including Trip, its mobile application supporting consciousness expansion and Portal, its tools to support people participating in psychedelic therapies at Field Trip Health centers.

FT-104 is a next-generation, synthetic psychedelic molecule whose design is, in part, based on classical serotonin 2A psychedelics. Patents are pending on FT-104’s structure, formulation and use in treating a variety of central nervous system disorders. Preliminary results for FT-104 demonstrate that FT-104 is similar in potency to psilocybin, but may provide a significantly shorter duration of psychedelic experience relative to psilocybin (in the range of two to four hours, which is approximately half the duration of psilocybin), making it a more convenient and potentially preferable option for psychedelic therapy. FT-104 is concurrently undergoing optimization and cGMP scale-up, as well as pre-clinical evaluation, both of which are expected to be completed by June 2021. Field Trip anticipates that FT-104 will enter into Phase 1, clinical trials in the second half of calendar year 2021.

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FTRPF

Since January 2020, Field Trip has successfully cultivated 24 varieties (from 13 different species) of psilocybin-producing fungi and truffles in a temporary facility at UWI’s Mona Campus, and in October 2020, Field Trip substantially completed construction of a 2,072 sq. ft. custom-built research and cultivation facility situated on UWI’s Mona campus. The purpose of the Jamaica Facility is to optimize the cultivation techniques and operating procedures for psilocybin-producing fungi and develop the analytical tools and techniques to ensure the safe use of domesticated species in psychedelic therapy in legal jurisdictions (states or countries) as markets for psilocybin-producing fungi continue to emerge. Field Trip anticipates utilizing such techniques and operating procedures at Field Trip Health’s Amsterdam location, as well expected operations in the State of Oregon, following the passage of Measure 109, which will effectively create the first legal market for psilocybin therapies in North America.

Portal, Field Trip’s proprietary digital mental health platform recently began rolling out across North America to people currently participating in Field Trip’s psychedelic-enhanced therapy programs. Portal, which meets Canadian and US standards for personal health information compliance, is designed to enhance the therapeutic experience and improve outcomes in Field Trip Health centers and beyond. The Company also expanded the hours of operation at its Toronto Field Trip Health location to provide its psychedelic therapies on evenings and Saturdays. Participants receiving Field Trip’s ketamine-assisted therapies will soon be able to book appointments between 8 am and 5pm on Mondays, between 8am and 8pm from Tuesday to Friday and 12pm to 8pm on Saturdays. Field Trip also reported that this week of November 30 – December 4, 2020 is the busiest week to date at its Toronto Field Trip Health center, achieving a record number of sessions scheduled.

On December 10 Field Trip Health increased the size of its previously announced $14,999,998.50 bought deal offering. Pursuant to the upsized deal terms, the Underwriters have agreed to purchase, on a “bought deal” basis, 3,868,000 units of the Company at a price of $4.50 per Unit, for aggregate gross proceeds of $17,406,000.

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Field Trip Health is making a powerful run up the charts in recent months emerging as a volume leader in small caps as the shroom boom is upon us and stocks in the psychedelic space see rapid gains. Field Trip Health has successfully cultivated 24 varieties (from 13 different species) of psilocybin-producing fungi and truffles in a temporary facility at UWI’s Mona Campus, and in October 2020, Field Trip substantially completed construction of a 2,072 sq. ft. custom-built research and cultivation facility situated on UWI’s Mona campus. The Company’s  first drug candidate FT-104, is a novel synthetic psychedelic molecule and is is concurrently undergoing optimization and cGMP scale-up, as well as pre-clinical evaluation, both of which are expected to be completed by June 2021. Field Trip anticipates that FT-104 will enter into Phase 1, clinical trials in the second half of calendar year 2021. Field Trip Health is an emerging leader in the booming psychedelic space projected to be worth at least $6.9 billion by 2027. Stocks in the sector are seeing rapid gains as Compass Pathways recently made an historic IPO on the NASDAQ. Several clinical trials are underway in the United States and worldwide to investigate the therapeutic effects of psilocybin, and there is new hope for treating such debilitating disorders as depression, anxiety, post-traumatic stress disorder, anorexia, obsessive-compulsive disorder, and addiction.  We  will be updating on Field Trip Health on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with Field Trip Health .

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Disclosure: we hold no position in Field Trip Health either long or short and we have not been compensated for this article.

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