VANCOUVER, BC, April 1, 2025 /CNW/ - Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) (FSE: 7QS) ("Filament" or the "Company"), a clinical-stage natural psychedelic drug development company, released its fourth quarter financial results and operational highlights for the period ended December 31, 2024.
"Over the course of 2024, we continued to expand Filament's position as a leading global supplier of cGMP botanical psilocybin," said Benjamin Lightburn, Co-Founder and Chief Executive Officer at Filament Health. "While this past year presented challenges, we remain steadfast in our mission to unlock the therapeutic potential of botanical psilocybin, and our other botanical drug candidates."
Mr. Lightburn continued: "We continue to focus on the advancement of our lead program, PEX010, into clinical trials around the world. Our emphasis on the treatment of substance use disorders was further validated by the recent positive results seen with PEX010 in patients with severe alcohol use disorder."
Recent and Q4 2024 Financial and Operational Highlights:
- On March 17, 2025, the Company announced positive data from an open-label phase 2 clinical trial studying the effects of its botanical psilocybin drug candidate, PEX010, for the treatment of alcohol use disorder (AUD) at Psychiatric Centre Copenhagen. After a single dose of PEX010, the mean percentage of heavy drinking days was reduced by more than 50% over the 12-week observation period.
- On January 21, 2025, the Company announced the shipment of botanical psilocybin to The University of Wisconsin-Madison for investigation in two US Food and Drug Administration-approved clinical trials.
- On December 16, 2024, the Company announced that Magdalena Biosciences, a joint venture formed by Filament and Jaguar Health, Inc., successfully completed an import of six kilograms of coca leaf from Peru to Filament's Metro Vancouver research and development facility.
- Cash and cash equivalents of $391,237 as of December 31, 2024;
- Cash used in operating activities of $4.9 million during the twelve months ended December 31, 2024; and
- Total revenues of $616,678 during the twelve months ended December 31, 2024.
ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (CBOE CA:FH) (FSE:7QS)
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 Twitter, 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. Forward-looking statements herein include, but are not limited to, statements regarding the benefits of psilocin as compared to psilocybin. 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. 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 results of the clinical trial. 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.
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