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Tryp Therapeutics CEO Greg McKee: “About Ready” To Initiate Two Phase 2A Studies

Tryp Therapeutics (CNSX: TRYP) (OTCMKTS: TRYPF) appears poised to make noise in the back half on 2021 as its many pre-clinical initiatives begin to bear fruit. With its experienced team and extended collaborations with various research institutes and Contract Research Organizations throughout the United States, Tryp’s entry into the Phase 2 realm of psilocybin research appears close at hand. We invited CEO Greg McKee back to the interview chair to explain the company’s updated timelines and initiatives.

Ttry Therapeutics’ co-lead compound, TRP-8802, is being explored for the treatment of eating disorders—an under-research indication in the psychedelics world. In collaboration with Research Organization Fluence and Dr. Jennifer Miller, M.D., at the University of Florida, this will likely become Tryp Therapeutics first foray into a Phase 2 trial. Tryp is one of the very few public company attempting to treat eating disorders with psilocybin assisted-therapy.

However, Tryp has many more phased research initiatives planned in the second half of 2021. As CEO Greg McKee tells TDR, the company another Phase 2 study for fibromyalgia planned, and possibly “a third and fourth” Phase 2A study initiating by the end of the year:

There’s no doubt that we’re undervalued relative to other players in our space. And specifically, you know as you pointed out, if you look at other companies that are in the clinic—and it’s a very rarified set of companies that are at that stage—we’re about ready to have at least two Phase 2A studies up-and-running. And I think we’ll be actually able to beat that, and have potential a third and possible a fourth up-and-running before the end of the year.

The numbers appear to back up Mr. McKee’s bold assertions. According to our updated market cap table (July 18), Tryp Therapeutics appears to be appreciably undervalued compared to peer psychedelic companies currently in Phase 2 trials.

CompanyTrial PhaseIndicationMarket Cap s/o
Atai Life SciencesPhase 2aCognitive impairment associated with schizophrenia (via Recognify)US$2.65B
Mind MedicinePhase 2a/2bAdult ADHD, AnxietyUS$1.43B
COMPASS PathwaysPhase 2bTreatment resistant depressionUS$1.43B
Cybin Inc.Phase 2a/2bMajor depressive disorderC$525.8M
Seelos Therapeutics (Ketamine)Phase 2Major depressive disorderUS$246.4M
Small Pharma (DMT)Phase 1/2aMajor depressive disorderC$155.2M
Mydecine InnovationsPhase 2aPTSDC119.3M
Tryp TherapeuticsTwo Phase 2a trials expected in 2H 2021Fibromyalgia, Eating DisordersC$35.1M

Click on the embedded link for more of our inaugural interview with Tryp Therapeutics CEO Greg McKee, in his own words.

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