Braxia Scientific Corp (OTCMKTS:BRAXF) fell 13% last week after announcing that its R&D team will start a randomized clinical study targeting psilocybin use in managing treatment-resistant depression. The company indicated that the study is its latest move to develop next-generation proprietary psychedelic medications and delivery systems via its clinic network.
Most importantly, the study seeks to demonstrate that the company can effectively carry a randomized study through psychedelic-aided therapy. As a result, this will allow the company to create infrastructure for future clinical care and studies while collecting efficacy data and offering the chance to assess a therapist training regimen the company launched at the end of June 2021.
The study’s lead investigator and Canadian Rapid Treatment Centre of Excellence medical director Joshua Rosenblat said that the trial would be the most expansive study of its nature. Rosenblat also said that the study would have an upper limit encompassing patients, unlike most treatment-resistant depression trials that limit patients’ participation. So in the coming weeks, investors should keep an eye on BRAXF.
Market Reaction:
On Friday, BRAXF stock fell 3.70% at $0.1987 with more than 1.08 million shares, compared to its average volume of 462k shares. The stock has moved within a range of $0.1810 – 0.2095after opening the trade at $0.20.
