Field Trip Joins The Psychedelic Elite With Its 2nd Major Uplisting In 8 Weeks
Last week, Field Trip Health (TSX: FTRP; OTCMKTS: FTRPF) solidified its place among the elite psychedelic companies in the space. The uplist announcement to the NASDAQ Global Select Market—the highest echelon in the NASDAQ group of listings—was an extension of a prolonged news cycle which has helped boost its common shares +33.39% since the start of Q2 2021. We invited Executive Chairman Ronan Levy to TDR’s interview chair to expand on this and other relevant company events.
Coming just eight weeks after beginning trade on the Toronto Stock Exchange, the uplist is a prestigious accomplishment. Field Trip has secured the highest tier designation on the NASDAQ exchange—a placement that is generally reserved for blue chip and large cap stocks. The Nasdaq Global Select Market bills itself as having the highest initial listing standards of any exchange in the world—a mark of achievement and stature for qualified companies.
That point was not lost on CEO Ronan Levy, who explained to TDR the significance of the achievement:
One of the things that I don’t think is appreciated about what we achieved is that we actually got approved to list on the NASDAQ Global Select tier. We are the first* psychedelic company to be on the Global Select… It just means that the level of scrutiny that was placed on our application—as well as the expectations going forward—were just held at a higher rank.* Field Trip is the 1st psychedelic company to uplist to the NASDAQ Global Select Market tier, and 2nd overall joining COMPASS Pathways
And on July 27, Field Trip announced that it has received final approval from The NASDAQ Stock Market LLC to list its common shares on the aforementioned exchange, with trading to begin at market open on Thursday, July 29, 2021 under the ticker symbol FTRP.
Ronan also dives in-depth into his company’s business operations, including exciting new compound FT-104, a novel, synthetic psychedelic molecule developed by the chemical structures of known psychedelic substances. Although Field Trip has been mum on details thus far, FT-104 us expected to enter a Phase 1 dosing trial later this year.
On the clinic side, the company’s therapy protocols are based on scientific study and ancient psychedelic traditions gleaned from generations past. Each treatment approach incorporates psychedelic medication as well as therapeutic processing and integration. Each patient has the option to book guided one-on-one experiences and in select locations, or group experiences with a collective of four individuals.
Filed Trip has clinics in half a dozen major metropolises in North America, with intensions of opening 20 locations by the end of the year.
Click on the embedded link for more of our interview with Field Trip Executive Chairman Ronan Levy, in his own words.