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.
|Company||Trial Phase||Indication||Market Cap s/o|
|Atai Life Sciences||Phase 2a||Cognitive impairment associated with schizophrenia (via Recognify)||US$2.65B|
|Mind Medicine||Phase 2a/2b||Adult ADHD, Anxiety||US$1.43B|
|COMPASS Pathways||Phase 2b||Treatment resistant depression||US$1.43B|
|Cybin Inc.||Phase 2a/2b||Major depressive disorder||C$525.8M|
|Seelos Therapeutics (Ketamine)||Phase 2||Major depressive disorder||US$246.4M|
|Small Pharma (DMT)||Phase 1/2a||Major depressive disorder||C$155.2M|
|Mydecine Innovations||Phase 2a||PTSD||C119.3M|
|Tryp Therapeutics||Two Phase 2a trials expected in 2H 2021||Fibromyalgia, Eating Disorders||C$35.1M|
Click on the embedded link for more of our inaugural interview with Tryp Therapeutics CEO Greg McKee, in his own words.