Psychedelic: PharmAla launches portal for MDMA prescribers, therapists

In this week’s “Psychedelic,” The Fly’s recurring series focused on psychedelic stock news, The Fly looks back on a portal launch, a data presentation and crypto purchases.

PHARMALA LAUNCHES PORTAL FOR MDMA PRESCRIBERS, THERAPISTS: PharmAla Biotech Holdings (MDXXF) announced Wednesday the launch of NEXUS, its new and updated tool to bring together and connect prescribers, therapists and clinic managers. NEXUS is designed to be a key tool in connecting the total chain of care for MDMA practitioners, as well as an important mechanism to deliver and share knowledge on the latest advances to regulatory processes, scientific evidence, and best-in-class patient care.

“When we launched the Prescriber’s Portal over a year ago, our goal was quite narrow. We just wanted to help prescribers navigate the regulatory pathways for patient access, which they found quite difficult,” said Nick Kadysh, CEO. “What we have discovered over the past 18 months is that prescribers are just one part of the ecosystem delivering care for legally authorized MDMA-Assisted Therapy patients. There are also the therapists – who often have long-term relationships with the patients. There are clinic managers who are responsible for the administration of care delivery. Increasingly, they all need access to data on how to do their jobs more effectively, and to connect with one another in delivering a new and highly effective modality of care. With NEXUS, we aim to solve that challenge.”

PharmAla also announced the appointment of Farnoud Kazemzadeh as its COO. Most recently, Dr. Kazemzadeh was co-founder, operations at Vital Biosciences. Additionally, the company accepted the resignation of Dr. Harriet De Wit from its board of directors.

GH RESEARCH TO PRESENT GH001 CLINICAL DATA: GH Research (GHRS) announced Thursday the acceptance of a Novel Therapies Symposium Presentation at the 38th Annual European College of Neuropsychopharmacology Congress in Amsterdam, the Netherlands from October 11 – 14. Professor Wiesław Cubała, MD, PhD, Department of Psychiatry, Faculty of Medicine, Medical University of Gdańsk, will present long-term clinical data on the safety and efficacy from the open label extension of a randomized, double-blind, placebo-controlled Phase 2b clinical trial with GH001 in patients with treatment-resistant depression. Additionally, two posters have been accepted presenting safety and tolerability data from the open-label extension part of GH001-TRD-201 as well as data on the psychoactive effects of GH001 in patients with TRD from GH001-TRD-201.

“There remains a substantial unmet medical need for treatment-resistant depression, where many patients fail to achieve adequate relief with current therapies. In this context, the development of treatment options that combine strong efficacy, a favorable long-term safety profile, and a rapid-acting mechanism of action is particularly important,” said Professor Bernhard Baune, Director, Department of Psychiatry, University Hospital of Münster, Germany. “Results from the 6-month open-label extension of GH001-TRD-201 provide important confirmation of GH001’s safety and tolerability profile. Treatment was well tolerated, with no treatment-related serious adverse events reported and no evidence of treatment-emergent suicidal intent or behavior. These findings reinforce confidence in GH001 as a novel and rapid-acting approach for TRD.”

SILO PHARMA ACQUIRES RESEARCHCOIN, BITCOIN: Silo Pharma (SILO) announced Monday its initial purchase of ResearchCoin as part of its expanded digital assets treasury strategy designed to capture long-term value from emerging multi-chain opportunities. RSC is the native token of ResearchHub, a decentralized platform designed to advance scientific collaboration and discovery.

“By securing a position in RSC, we are participating in the growing decentralized science movement while pursuing asset diversification and potential appreciation for shareholders,” said Eric Weisblum, CEO. “Our investment in ResearchCoin demonstrates our interest in modernizing scientific research and collaboration and supporting blockchain-driven innovation as a pillar for biomedical discovery.”

The company also announced Wednesday its initial purchase of bitcoin (BTC-USD) under its crypto reserve strategy.

“Silo’s latest strategic crypto purchase signals our conviction in Bitcoin as both store of value and a hedge against general financial market volatility,” said Weisblum. “Overall, the four crypto investments we have made so far underscore our Company’s confidence in the growing adoption and value creation opportunities available through a digital asset treasury portfolio.”

OTHER PSYCHEDELIC STOCKS: Publicly-traded companies in the space include Algernon Pharmaceuticals (AGNPF), atai Life Sciences (ATAI), BetterLife (BETRF), Bright Minds (DRUG), Clearmind (CMND), Compass Pathways (CMPS), Cybin (CYBN), Enveric Biosciences (ENVB), Filament Health (FLHLF), Incannex (IXHL), Mind Medicine (MNMD), MIRA Pharmaceuticals (MIRA), NRx Pharmaceuticals (NRXP), Numinus Wellness (NUMIF), Pasithea Therapeutics (KTTA), PharmaTher (PHRRF), Psyence Biomedical (PBM), Psyence Group (PSYGF), Relmada Therapeutics (RLMD), Revive Therapeutics (RVVTF), SciSparc (SPRC) and Seelos Therapeutics (SEEL).