It has been an interesting year for psychedelic investors, as the industry has taken a hard hit on the capital market front. However, a number of companies have emerged as frontrunners in this industry poised for a significant breakout.
Tryp Therapeutics (CNSX: TRYP) (OTCMKTS: TRYPF) is one of the leading psychedelic drug development companies in the industry today, and CEO and Chairman Greg McKee joins The Dales Report once again to discuss a variety of topics that directly relate to the future of psychedelics in mainstream medicinal practices.
Financial markets aside, McKee believes that 2021 proved to be a year that saw the psychedelic therapeutics space mature on numerous levels.
“There’s obviously been a lot more engagement between companies on the drug development side and the FDA. For example, we just saw some news from MindMed on that front. And you know, we’ve been working our way through a couple of things as well with the FDA, we’re super excited to be able to get our Fibromyalgia study cleared by the agency.”
“But I think the maturity is sort of what comes to mind right as we begin to now really think through what we have to do to get these chemistries through the agency approvals, and then into the marketplace to help patients. So I think it’s been a big year of growth on that front for the sector.”
The interview highlights some of Tryp’s biggest developments, including the appointment of Dr. Carhart-Harris as SAB Chairman.
“For us, he really wanted to kind of spread his wings and look at what the potential is, and will be for these chemistries and other areas, like eating disorders and in chronic pain. So I think that was a big draw, you know, for him, but you know, sort of, as implied, he’s got a lot of opportunities of different projects he can get involved with. So we felt really fortunate to be able to have an opportunity to have him share our Scientific Advisory Board.”
About eight minutes into the conversation, Dales shifts the focus to financials and the future direction of the brand. The dialogue offers invaluable information for psychedelic investors banking on the inevitable industry breakout, and McKee paints a very clear and promising future for both the psychedelic space and Tryp Therapeutics as a company.
While it looks as if investors will need to remain patient, McKee sounds confident with his current assessment of the space and the maturity it has developed through these trying times.
As clinical trials continue to return promising results, brands like Tryp are well-positioned to be the leaders in what could be the future in the battle against mental health disease.