CSE:TRYP - Post Discussion
Post by
maysilverstone on Jul 23, 2021 12:20pm
$TRYP- Psychedelic stock to watch
As the acceptance of psychedelic treatments rapidly increase along with the prevalence of mental disorders, the psychedelic market is expected to grow with a CAGR of 16.3% to reach $6.85B by 2027.
A psychedelic company that I'm watching closely is TRYP Therapeutics, a pharmaceutical company focused on developing psilocybin-based compounds for diseases with unmet medical needs.
They are working to get their psilocybin treatments approved by the FDA and on the market.
By targeting the 505 b2 and the orphan drug design, $TRYP is granted the "Orphan Drug Status", meaning that they receive
- Much shorter review wait times
- Federal tax credit for clinical trials
- Direct written recommendation from the FDA on the trials
They also recently announced plans for a Phase 2a clinical trial to evaluate the efficacy of TRYP-8802 for treating Fibromyalgia with the University of Michigan.
Be the first to comment on this post