Emyria Limited (ASX:EMD) Announces Q4 2024 Quarterly Highlights
Clinical and Strategic Developments
Emyria Limited has made significant progress in its PTSD treatment program, with increasing enrollment in its MDMA-assisted therapy and no patient drop-outs. The ACT Health Ethics Committee has endorsed Emyria’s psilocybin-assisted therapy for treatment-resistant depression, enabling the addition of this therapy to its protocols. The company has advanced discussions for hospital substitution pilot programs with private health insurers and government payers, aiming to broaden patient access. Additionally, Emyria’s Empax Centre was selected by Psyence Biomed for a psilocybin trial targeting adjustment disorder in cancer patients.
Financial Accomplishments
Emyria successfully raised $2.525 million through a placement, attracting firm bids from new and existing investors. Chairman Greg Hutchinson is applying for an additional $1 million, pending shareholder approval. The funds will support the expansion of mental health treatment services, including a new program for treatment-resistant depression. The company also received a net cash refund of approximately $572,082 under the R&D Tax Incentive program.
Leadership Changes and Outlook
Following the quarter, Greg Hutchinson transitioned to the role of Executive Chairman, leveraging his expertise for the company’s growth phase. Dr Michael Winlo has become the Chief Scientific Officer, overseeing Emyria’s Real-World Evidence research, clinical trials, and drug discovery programs. Emyria is focused on scaling its mental health treatment programs, expanding its Empax locations across Australia, and advancing its drug discovery pipeline in partnership with the University of Western Australia.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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