Pharmather Holdings Ltd. (OTCQB: PHRRF) reported financial results for its third quarter ended February 28, 2022.
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Financial Results
Cash and cash equivalents totaled CA$10,165,170 ($7,955,803) and investment totaled CA$1,666,667 ($1,304,422) for a total of CA$11,831,837 ($9,260,226) as of February 28, 2022.
Accounts payable and accrued liabilities totaled CA$140,947 ($110,312) as of February 28, 2022.
Recent Highlights
The company received an Orphan Drug Designation for a ketamine-based medicine for treating an epileptic condition.
Received approval from the FDA to proceed with a Phase 2 clinical trial for an Amyotrophic Lateral Sclerosis treatment.
The company entered into collaborative research with Revive Therapeutics (OTCQB: RVVTF) to develop a psilocybin microneedle patch. Pharmather is also developing microneedle patches for administering ketamine (along with LTS Lohmann Therapie-Systeme AG) and another one for administering LSD.
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