Yesterday, psychedelics based biotech firm PharmaTher Holding Ltd (OTCMKTS:PHRRF) was in considerable focus among investors after the company made an announcement with regards to updates as well as possible milestones for the fourth quarter of this year as well as for 2022.
However, the updates did not seem to impress the investors and the stock declined by 5% as a consequence. The latest drop in the stock price took the decline for the past week to as much as 15%. In this context, it might be a good idea for investors to perhaps take a closer look at the updates that had been provided by PharmaTher yesterday.
PharmaTher announced that as many as 10 clinical sites have been chosen for the purposes of the Phase 2 study into the use of ketamine for treating Parkinson’s disease. It should be noted that the study has been permitted by the United States Food and Drug Administration.
On the other hand, the company also started the process for the investigational new drug application for starting the Phase 2 study into the product KETABET for the treatment of depression. There were other critical updates as well and it seems that it might be the right to start tracking the PharmaTher stock.