In another episode of the The Dales Report Psychedelic Exclusive podcast, we sit down with CEO of Awakn Life Sciences (CBOE: AWKN) Anthony Tennyson to discuss some amazing news – an application for a Phase 3 clinical trial. While many clinical trials have been examining things like treatment resistant PTSD and depression, Awakn’s lead program Aw K N-001 aims to revolutionize the treatment of severe alcohol use disorder.
Tennyson shares with us the details of the recent submission of their application for a Phase 3 trial with this program. This is huge news for Awakn, as only two other psychedelic companies have reached a Phase 3 trial so far. And with MAPS recently in the news with the results of their Phase 3 trial on MDMA assisted therapy for PTSD, the industry is receiving some fresh investor interest. We recap some of the MAPS results and how this news has impacted the market and other companies in the space.
As we delve into the discussion about Awakn’s goals, we’ll learn more about developing MDMA for addiction treatment and some of its potential. Anthony reveals that while they eagerly await feedback from the competent authority in the UK, their goal is to secure regulatory and ethical approval by year-end. This means that, excitingly, the trial’s first participants could be treated as early as Q1 next year. Anthony lays out the timeline for the trial, and describes the new treatments being developed for alcohol use disorder.
In a landscape ripe with mergers and acquisitions, Awakn’s distinct efficiency in achieving this major milestone of a Phase 3 trial sets them apart from most of their peers. Their phase 2 results indicated that the treatment protocol was a staggering three and a half times better than the current standard of care for alcohol use disorder.
The industry is taking notice, including recent news of Compass Pathways’ major investment. Be sure to tune in for the full interview, right here.