Canada To Australia: New MDMA & Psilocybin Shipment On Its Way For Legal Therapeutic Market
Portfolio Pulse from Lara Goldstein
PharmAla Biotech (OTC:PMBHF) is set to ship the first of several batches of psychedelic molecules, including MDMA and psilocybin, to its Australian JV Cortexa for use under the Authorized Prescriber Scheme (APS). This marks the first time any molecules recently re-scheduled under Australia’s APS are imported for use under that scheme, rather than for clinical trials. PharmAla's CEO Nick Kadysh believes Cortexa will become the industry leader in the import, sale, and distribution of psilocybin and MDMA for medical purposes.
November 08, 2023 | 4:35 pm
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PharmAla Biotech's shipment of psychedelic molecules to its Australian JV Cortexa could position the company as a leader in the import, sale, and distribution of psilocybin and MDMA for medical purposes in Australia.
PharmAla Biotech's shipment of psychedelic molecules to its Australian JV Cortexa is a significant move as it marks the first time any molecules recently re-scheduled under Australia’s APS are imported for use under that scheme, rather than for clinical trials. This could position the company as a leader in the import, sale, and distribution of psilocybin and MDMA for medical purposes in Australia, potentially boosting its stock in the short term.
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