In case you’ve missed previous news on them, it’s been about six months since PharmAla Biotech (CNSX: MDMA) went public. We have had the CEO of PharmAla, Nick Kadysh, on The Dales Report last year, and we’re thrilled to welcome him back to our table to catch up on the latest in MDMA development and the company’s growth.
Here’s some highlights from the interview.
No Point Hiding It – PharmAla Is An MDMA Company
Kadysh says that the company’s been holding onto the ticker symbol MDMA for only about a year. He believes that other companies have avoided it for a reason. But this is what PharmAla does, he says, and so their pickup of the symbol was a boon.
Canadian PharmAla Biotech is focused on MDMA and other MDXX substances. They manufacture generic MDMA and supply clinical trials all over the world, and they’re busy developing novel analogues of the compound to improve the toxicology, reduce adverse events, and create new indications.
Clinical Demand For MDMA Is Small, But PharmAla Sees It Growing
When asked what the total addressable market of pharmaceutical-grade MDMA was, Kadysh admits that PharmAla right now would be pursuing a marketplace worth something on the order of $25m. But, he adds, “every single year, that market is going to double because what we’ve seen already is drought, regulatory change.”
Kadysh anticipates PharmAla becoming the first ones in Canada to get an approved Special Access Program request for MDMA. Between that, MAPs’ phase three testing results, and news like British Columbia decriminalizing possession of small amounts of the drug, things are looking up in the psychedelics world.
Kadysh Believes PharmAla’s MDMA Analogues May Work As A Standalone Pharmaceutical
Philanthropy is great, but it’s not a way to run a revenue-generating business. To limit MDMA or other psychedelic treatment to such extreme cases such as PTSD leaves a lot of other mental health issues on the table. While clearly PTSD requires psychotherapy, Kadysh believes many of these other disorders should not be treated the same as PTSD.
Social anxiety disorder is one such example.
Kadysh feels that MDMA analogues will be highly effective in the treatment of such disorders, even without psychotherapy. In such cases, he’d like to see PharmAla MDMA become a standalone pharmaceutical available as a therapeutic. The key, he says, is improving the toxicology of the molecule, specifically the adverse events like hyperthermia.
Preclinical research, Kadysh says, seems to be showing that they’re succeeding at this.
This is just some of the highlights. Be sure to watch the full interview and get more on what investors should know about PharmAla’s prospects as a revenue-generating business, how he thinks psychedelics will eventually become legalized, and their exciting new platform for talking to psychedelics regulators.