Promising Milestone: FDA Approves California-Based Trial Assessing MDMA For Schizophrenia
Portfolio Pulse from Lara Goldstein
The FDA has approved a clinical trial for PharmAla Biotech Holdings' (OTC:PMBHF) proprietary LaNeo Investigational Medical Product (IMP) 40mg MDMA capsules for the treatment of schizophrenia. The trial will be conducted at UCLA in early September with 20 participants.
June 12, 2023 | 7:48 pm
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PharmAla Biotech Holdings receives FDA approval for a clinical trial of its proprietary LaNeo IMP 40mg MDMA capsules for schizophrenia treatment.
The FDA approval for PharmAla Biotech's clinical trial is a significant milestone for the company, as it allows them to test their product on humans in the US. This could potentially lead to further advancements in the treatment of schizophrenia and increase the company's credibility in the market. As a result, the stock price is likely to go up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100