Emyria Selected by Reach Wellness to Lead MDMA -Assisted Therapy Research for First Responders

Emyria Selected by Reach Wellness to Lead MDMA -Assisted Therapy Research for First Responders

Emyria Limited (ASX: EMD) (“Emyria”, or the “Company”) investigating new treatments for mental health and select neurological conditions, is pleased to announce it has entered into a binding research study agreement with charity Reach Wellness to manage a pivotal observational study designed to evaluate the effectiveness of Emyria’s MDMA-assisted therapy (MDMA-AT) program, together with a support program managed by Reach Wellness, for first responders with PTSD. The agreement underscores Emyria's leadership in the evolving field of MDMA-AT research and marks a significant step forward in addressing the unique care and support requirements of first responders suffering from PTSD.

HIGHLIGHTS

  • Charity“ReachWellness”selectsEmyriatomanageastudyofEmyria’sscalable MDMA-assisted therapy (MDMA-AT) program for first responders with Post-Traumatic Stress Disorder (PTSD) together with a support program provided by Reach Wellness.
  • Reach and Emyria have entered into a binding research study agreementwhere, subject to fundraising, Reach will subsidise costs of treatment for an initial cohort of 50 qualified first responders amounting to an estimated total of $1.5 million.
  • Reach Wellnesshasinitiatedafundraisingcampaigntocoveralltreatmentand study-related costs for this project; first participant enrolled.
  • Study to supportbroaderhealth service and payer engagement by helping demonstrate the safety, effectiveness and scalability of Emyria’s MDMA-AT model

Emyria is at the forefront of mental health treatment innovation, having commenced community-based MDMA-assisted therapy trials in October 20231. Its lead psychiatrist has since achieved Authorised Prescriber status2, becoming one of the few services nationwide authorised and capable of providing MDMA-assisted therapy for PTSD under the rigorous regulatory oversight and requirements established by the TGA. There are risks associated with the use of MDMA, which are set out at the end of this announcement.

As part of its commitment under the research study agreement, Reach Wellness has embarked on a vital fundraising effort to cover all treatment and follow-up costs for an initial cohort of 50 suitably screened first responders who are struggling with PTSD and eligible for MDMA-AT. This initiative represents a substantial pledge towards mental health care (an estimated $1.5m) and will help evaluate the potential of new therapies for those who serve and protect us.

Treating PTSD in First Responders

The Emyria-Reach Wellness initiative arises in response to the growing national mental health challenge. Over a million Australians have PTSD 3 with first responders and veterans showing a 60% higher incidence rate 4, Traditional treatments may not provide relief for all sufferers, highlighting a need for innovative approaches. MDMA-AT has shown promise as a potential treatment for PTSD in multiple Phase 3 clinical trials conducted in the USA 5 and from July 1st 2023, MDMA can be legally prescribed for PTSD by specialist psychiatrists who have obtained Authorised Prescriber status from the TGA 6 and who can also demonstrate a capability to provide supportive therapy.

The Emyria and Reach Wellness partnership aims to evaluate the Real-World efficacy and cost benefits of Emyria’s MDMA-AT model combined with a tailored support program for an initial cohort of 50 first responders. Consequently, the research study agreement is expected to directly support engagement with major Health Payers while contributing to a broader understanding of these new treatments. The support from Reach comes as Emyria is in the process of enhancing its capacity for Real-World research by expanding its clinical facilities and increasing its pool of Authorised Prescribers and trained therapists. These investments improve Emyria’s ability to develop a scalable and commercially viable MDMA-AT model while Reach’s support increases the Company’s potential to evaluate new mental health solutions on a wider scale.

Reach Wellness founder, Rick Green: “First responders keep our communities safe and functioning both locally and overseas. However, these roles can be highly stressful both physically and mentally as is evident by the high rates of PTSD and other mental health challenges.

“Reach’s mission is to fund research and care programs for those who help others first with the generous support of our donors.

“Emyria is one of the most well-prepared research organisations in Australia capable of evaluating MDMA-assisted therapy in real-world settings and we are excited to partner with them on this research program managed within a strictly controlled regulatory environment.”

Click here for the full ASX Release

This article includes content from Emyria Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Seelos Therapeutics Announces 1-for-8 Reverse Stock Split

Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that its Board of Directors approved a 1-for-8 reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m. Eastern Time on Thursday May 16, 2024.

(PRNewsfoto/Seelos Therapeutics, Inc.)

The Company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on Thursday, May 16, 2024 . Following the reverse stock split, the Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "SEEL" with the new CUSIP number, 81577F307. The reverse stock split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market.

At the effective time of the reverse split, every 8 issued and outstanding shares of the Company's common stock will be converted automatically into one share of the Company's common stock without any change in the par value per share. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. The reverse stock split will reduce the number of authorized shares of the Company's common stock from 400,000,000 shares to 50,000,000 shares and the ownership percentage of each stockholder will remain unchanged other than as a result of fractional shares. In addition, the reverse stock split will apply to the Company's common stock issuable upon the exercise of the Company's outstanding warrants and stock options, with proportionate adjustments to be made to the exercise prices thereof and under the Company's equity incentive plans, as applicable.

The reverse stock split will reduce the number of issued and outstanding shares of the Company's common stock from approximately 17.4 million to approximately 2.2 million.

About Seelos Therapeutics:

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare diseases. The Company's robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and spinocerebellar ataxia (SCA), as well as early-stage programs in Huntington's disease, Alzheimer's disease, and Parkinson's disease.

Forward-Looking Statements:

Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, among others, those regarding the reverse stock split and the timing thereof, the potential impact of the reverse split on the bid price of the Company's common stock, the potential for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market and the expected number of shares of common stock to be outstanding following the reverse stock split. These statements are based on our current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties involved include those associated with general economic and market conditions, as well as other risk factors and matters set forth in our periodic filings with the SEC, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q . Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

Anthony Marciano
Chief Communications Officer
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue, 2 nd Floor
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com

Mike Moyer
Managing Director
LifeSci Advisors, LLC
250 West 55th St., Suite 3401
New York, NY 10019
(617) 308-4306
mmoyer@lifesciadvisors.com

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SOURCE Seelos Therapeutics, Inc.

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Compass Pathways Announces First Quarter 2024 Financial Results and Business Highlights

  • COMP360 phase 3 pivotal program in treatment-resistant depression (TRD) on track for top-line COMP005 trial data in fourth quarter 2024, COMP006 trial top-line data expected mid-2025
  • Compass announces positive phase 2 COMP360 data in post-traumatic stress disorder (PTSD)
  • Michael Gold to join Compass as Head of R&D
  • Compass enters into additional commercial collaborations, including with Reliant Medical Group, part of Optum Care
  • Cash position of $262.9 million at March 31, 2024
  • Conference call May 8 at 8:00 am ET (1:00 pm UK)

Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today reported its financial results for the first quarter 2024 and provided an update on recent business progress.

Kabir Nath, Chief Executive Officer, said, "We were pleased to see the positive results from the phase 2 PTSD study, a condition with significant unmet need and limited therapeutic options for the people who live with it. PTSD is a logical extension for COMP360 psilocybin treatment as there is significant overlap in patients living with treatment-resistant depression and PTSD. These strong data enable us to explore the optimal path forward to advance clinical development in PTSD alongside our phase 3 pivotal program in TRD, which is on track for initial data this year. We also continue to prepare for commercialization of COMP360 in TRD if approved by the FDA and have established collaborations with important mental health providers in the US to investigate models for the delivery of COMP360 psilocybin treatment at scale in diverse care settings."

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Compass Pathways announces durable improvement in symptoms through 12 weeks in open-label phase 2 study of COMP360 psilocybin in post-traumatic stress disorder

  • Study met primary safety endpoint; administration was well tolerated, with no serious adverse events observed
  • Early and clinically meaningful improvement from baseline in mean CAPS-5 total score (29.5 point reduction at week 12), with change from baseline in mean SDS total score (14.4 point reduction at week 12)
  • 81.8% response (reduction of ≥ 15 points in CAPS-5 score), 63.6% remission (total CAPS-5 ≤ 20) rates at week 4 with 77.3% response and 54.5% remission at week 12
  • Measures of symptom scores relative to baseline improved following a single 25mg dose administered with psychological support (n=22)

Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today announced top-line results from an open-label phase 2 study evaluating the safety and tolerability of investigational COMP360 psilocybin treatment in 22 patients with post-traumatic stress disorder (PTSD). The study met its primary safety endpoint and available secondary efficacy endpoints. Study observations included meaningful and sustained symptom improvement from baseline in mean CAPS-5 total score, a measure of disease severity, and in Sheehan Disability Scale (SDS) score, a measure of functional impairment in daily life. Administration of COMP360 was well-tolerated, with a safety profile consistent with previous studies.

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MHS offers comprehensive mental health care services for patients living with TRD and other mental health conditions. They focus on early adoption of advanced, interventional treatment options, as part of a long-term, holistic care model that includes medication management and psychotherapy. MHS operates over 20 outpatient clinics located across California, Washington, Texas, and Georgia.

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