Small Pharma Reports Fiscal First Quarter 2024 Highlights
LONDON, July 27, 2023 (GLOBE NEWSWIRE) -- Small Pharma Inc. (TSXV: DMT) (OTCQB: DMTTF) (the “Company” or “Small Pharma”), a biotechnology company focused on short-duration psychedelic-assisted therapies for mental health conditions, has today published its financial results for the fiscal first quarter ended May 31, 2023. A complete copy of the results and the corresponding management’s discussion and analysis can be found under the Company’s profile on SEDAR at www.sedar.com. Unless otherwise indicated, all currency references are in Canadian dollars.
- Cash used in operating activities was $5.8 million for the three months ended May 31, 2023.
- This is expected to deliver a reduction in cash burn for upcoming quarters, which is anticipated to provide a cash runway extension until at least Q4 2024.
- Recent Business and R&D Highlights:
Small Pharma has advanced its SPL026 clinical program, with ongoing exploratory studies to evaluate additional formulations and treatment populations. - George Tziras, CEO of Small Pharma, said: “Our exploratory SPL026 and SPL028 Phase I studies, which are aimed at expanding patient access to DMT-based treatments, are almost complete.