PharmAla's Australian JV Cortexa Orders First Commercial MDMA & Psilocybin Shipment
Portfolio Pulse from Lara Goldstein
PharmAla Biotech Holdings Inc.'s (OTC:PMBHF) Australian joint venture Cortexa has placed its first order for PharmAla’s GMP-compliant MDMA. The order, worth approximately $300,000, will be shipped on an expedited basis. The company is also planning to order GMP-compliant psilocybin API. This comes as Australia's psychedelic program launches, with regulatory changes allowing for the use of MDMA and psilocybin by authorized prescribers from July 1.
July 05, 2023 | 8:55 pm
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POSITIVE IMPACT
PharmAla's Australian JV Cortexa's first order for GMP-compliant MDMA could potentially boost PharmAla's revenues. The upcoming order for GMP-compliant psilocybin API also indicates a potential increase in business.
The news directly pertains to PharmAla as it's about their joint venture Cortexa's first order. This could potentially increase PharmAla's revenues, hence the positive score. The relevance is high as the news directly involves PharmAla. The importance is significant as it could impact the company's financials. The confidence in the analysis is fairly high based on the information provided in the news.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100