| VANCOUVER, BC, Aug. 11, 2025 /CNW/ - Filament Health Corp. (OTC: FLHLF) ("Filament" or the "Company"), a clinical‐stage natural psychedelic drug development company, released its second quarter financial results and operational highlights for the period ended June 30, 2025. 
"This quarter, we took deliberate steps to position Filament Health for long-term growth, including streamlining our public listings to reduce costs and increase operational efficiency. We advanced our clinical and licensing portfolio with two significant developments: securing an exclusive global license for intellectual property and data usage from a Phase 2 study of psilocybin as a treatment for cocaine use disorder, and receiving approval to initiate a Phase 2 trial of our botanical psilocybin drug candidate, PEX010, for the treatment of prolonged brief disorder in Sweden," said Benjamin Lightburn, Chief Executive Officer and Co-Founder at Filament Health. "These achievements reflect our commitment to pioneering psychedelic drug development while managing our resources strategically, ensuring that we are well-positioned to continue delivering on our mission. The demand for botanical psychedelic treatments continues to grow as noted by the recent approval of PEX010 for compassionate use in Germany for administration to a patient suffering from treatment-resistant depression (TRD) - the EU's first ever approval of psilocybin for compassionate use." Q2 2025 Financial Highlights: - On May 28, 2025, the Company's common shares shifted from the OTCQB Venture Market to the OTC Pink Limited Information tier, and its listing on the Frankfurt Stock Exchange was terminated.
- On May 6, 2025, the Company held a Special Meeting for the voluntary delisting of its common shares from CBOE Canada, which was approved by shareholder vote, and the Company was delisted from the CBOE Canada Exchange as of May 21, 2025.
- On April 9, 2025, the Company closed a financing of $961,275 further to the issuance of units, comprised of a secured convertible debenture of the company and a warrant.
- Cash and cash equivalents of $679,972;
- Cash used in operating activities of $592,136; and total revenues of $259,013.
Q2 2025 Operational Highlights: - On June 17, 2025, the Company announced that it entered into an exclusive global license agreement with the University of Alabama at Birmingham for intellectual property related to a recently completed Phase 2 placebo-controlled clinical trial of psilocybin as a treatment for cocaine use disorder.
- On June 11, 2025, the Company announced that the Swedish Ethical Review Authority and Swedish Medical Products Agency have authorized a double-blind Phase 2 clinical trial studying its botanical psilocybin drug candidate, PEX010, at Linkoping University, for the treatment of prolonged grief disorder.
ABOUT FILAMENT HEALTH (OTC:FLHLF)
Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament's platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates. Learn more at www.filament.health and on X, Instagram, and LinkedIn. FORWARD LOOKING INFORMATION
Certain statements and information contained herein may constitute "forward-looking statements" and "forward-looking information," respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning the impact of the patent on the Company's business and the ability of the Company to secure future patents. Forward-looking statements regarding the Company are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including status of patent applications and the ability to secure patents. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. SOURCE Filament Health Corp. | |
