Will Shares of this Psycheceutical Pop on Dosing News?

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, July 13, 2023

PTSD is a serious illness that affects millions of people, with a global treatment market size valued at $16.0 billion in 2021 that is projected to reach $26.1 billion by 2031, and is growing at a compound annual growth rate of 4.9%. But with no effective therapeutics currently available, will this ketamine treatment revolutionize the PTSD treatment market?

Bioscience firm, Psycheceutical Bioscience, Inc (OTC PINK:BWVI), is dedicated to developing cutting-edge technologies for the next generation of mental health treatments. In a press release today, the firm announced that the first patient has been dosed in its Phase I study to evaluate its patented NeuroDirect™ ketamine topical delivery system for the treatment of Post Traumatic Stress Disorder (PTSD). NeuroDirect ketamine is the company's first non-systemic drug candidate designed to target free nerve endings on the back of the neck, with the objective of delivering psychedelic medicines safely, effectively and without hallucinogenic effects.

The company has already achieved important milestones in its push to commercialize its unique product, with initial discussions held with the U.S. Food and Drug Administration (FDA) where a 505(b)(2) pathway has been identified for obtaining regulatory approvals.

Shares were trading at $0.12 in morning trade.

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