- Health Canada has cleared psychedelics stock Optimi Health (CSE:OPTI) to conduct a phase 2 clinical trial in partnership with ATMA Journey Centers
- The trial will evaluate Optimi’s psilocybin capsules in 200 frontline healthcare workers in Canada with a focus on Major Depressive Disorder related to COVID-19 and potential capacity enhancements while on the job
- Optimi is a GMP-certified psychedelic pharmaceuticals manufacturer licensed by Health Canada specializing in psilocybin and MDMA
- Optimi Health stock has added 50 per cent year-over-year, but remains down by 68.09 per cent since inception in 2021
Health Canada has cleared psychedelics stock Optimi Health (CSE:OPTI) to conduct a phase 2 clinical trial in partnership with ATMA Journey Centers.
The trial, beginning in the coming months, will evaluate Optimi’s psilocybin capsules in 200 frontline healthcare workers in Canada for safety, efficacy and therapeutic effectiveness, with a focus on Major Depressive Disorder related to COVID-19 and potential capacity enhancements while on the job.
According to Nature, Major Depressive Disorder will become the leading cause of disease burden by 2030, with significant unmet needs among existing treatments in terms of improved safety profiles and reliable, more long-lasting effects. Optimi is keen to advance the growing potential of psilocybin as a new standard of care with its phase 2 trial and follow up on its successes in Australia to alleviate treatment-resistant depression and post-traumatic stress disorder.
Optimi has yet to turn a profit on a net income basis, but did turn gross profitable over the past two quarters, rising from 27.27 per cent in Q4 2023 to 50 per cent in Q1 2024 on revenue of C$110,000 and C$80,000, respectively.
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“We are deeply grateful to Health Canada for approving our psilocybin extract for this pivotal phase 2 trial,” Bill Ciprick, Optimi Health’s chief executive officer, said in a statement. “This approval not only propels our clinical validation efforts in Canada but also underscores our unique position in the global psychedelics industry. We are thrilled to be partnering with ATMA on this groundbreaking study, which complements our ongoing collection of real-world evidence from patients in Australia.”
About Optimi Health
Optimi is a GMP-certified psychedelic pharmaceuticals manufacturer licensed by Health Canada specializing in psilocybin and MDMA.
Optimi Health stock (CSE:OPTI) last traded at C$0.30 per share. The stock has added 50 per cent year-over-year, but remains down by 68.09 per cent since inception in 2021.
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(Top photo: Optimi Health)