Lykos Therapeutics' MDMA application was declined by the FDA in August 2024. After the April 2026 executive order, the resubmission is now eligible for a Priority Voucher. Here is what actually changed and the realistic path to approval.
mapscanada
Join MAPS Canada on June 25th for an exclusive conversation with leaders from some of Canada's licensed psychedelic manufacturers. Hear from the people behind the molecules to explore what's being made, who's using it, and what the future of legal psychedelics may hold in Canada and beyond.
With guests:
Danny Motyka, Psygen
Nick Kadysh, PhamaAla Biotech
Roya Barghian, Shields Pharma Inc.
And hosts:
Sonia Brodie and Rielle Capler
Register here: Link in bio*
#PsychedelicManufacturers #Webinar #MAPSCanada #PsychedelicTherapy #PsychedelicResearch
“The value of this company is rapidly increasing and if you want that value to be appreciated then there is only one direction for the company to go, but it's not happening tomorrow. Remaining on the CSE is clearly not helping the stock's valuation, as we have seen with the news releases over the last few years. We all agree those news releases should have shot this stock up long ago and we all agree the company is clearly undervalued. Those types of news releases would be far more appreciated on the NASDAQ and would reach more investors with a better understanding of how significantly valuable to the company many of the those news releases are.”
Nick Kadysh
@Nickkadysh
I’m going to try something new. In the past, I’ve spoken to @PharmAlaBiotech shareholders via a multitude of channels, but I haven’t really used X. Let’s try it!
A few people have asked about the share consolidation proposal in our latest AGM circular. Why are we asking shareholders to approve it?
Here is our thinking: If we were to move to a US exchange such as NASDAQ, we would need to do a share consolidation to achieve stock exchange minimums. While we don’t have plans to dual-list at present, we certainly want to have the option to do that when the timing is right.
Why are we asking for 100:1? While it's unlikely we would do a consolidation of 100:1, with our share volatility we cannot know in advance what the consolidation will be. The Board of Directors of PharmAla, which is made up entirely of independent directors, needs flexibility in order to execute the consolidation properly. As you can see, the motion is to affect a share consolidation UP TO 100:1, not a vote for that explicit consolidation.
As it stands, a vote against this item is functionally a vote against the company ever uplisting to a larger exchange with more liquidity. A share consolidation is a precondition to that.
As always, my inbox is open to shareholders who want to ask what we’re doing and why.