Optimi Health Gets Health Canada Nod for 200-Patient Phase 2 Psilocybin Depression Trial
OPTH sits 30% above its 52-week low of $3.45 on elevated volume (2.7× avg).
Summary
Optimi Health announced Health Canada authorization for a multisite Phase 2 trial of psilocybin-assisted therapy for major depressive disorder, enrolling up to 200 participants. The trial is planned to start in H1 2027 with dosing complete by end of 2027, using the company's own GMP-manufactured natural psilocybin. Optimi will own all trial data and says it can fund the study from existing cash. This is the company's largest clinical commitment to date and marks a strategic shift toward clinical drug development, building on its commercial exports and Special Access Program supply. The announcement follows recent capital raises and a $100M equity line, but management states no new financing is needed for this trial.
At the time of this announcement, OPTH was trading at $4.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $24.9M. The 52-week trading range was $3.45 to $8.84. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.