Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF), 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, has reported its interim financial results and business highlights for the three- and six-month periods ended Feb. 28, 2021. Highlights of the report include the closing of the company’s initial public offering, as well as additions to both the Tryp executive team and board of directors. The report also noted progress with the company’s manufacturing program for synthetic psilocybin as well as a collaboration with Jennifer Miller MD as the principal investigator for the company’s upcoming phase 2a clinical trial focused on eating disorders and Tryp’s psilocybin product. In addition, the company reported total assets as of Feb. 28, 2021, reached $7.5million, with $6.7 million of that in cash. Tryp is focusing its IP prosecution activities on a provisional patent filed in March that describes novel methods for the formulation, delivery and dosing of psychedelics resulting in a potential reduction in the time spent by patients in the dissociative state; additional patents are in process.
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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 the 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.
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