Shares of Braxia Scientific Corp (OTCMKTS:BRAXF) continued to trend lower in the previous session, extending its weekly fall to 7%.
Trading Data
On Tuesday, BRAXF stock slid 1.04% to $0.0758 with more than 381k shares traded, compared to its average volume of 393k shares. The stock has moved within a range of $0.0750 – 0.0781 after opening trading at $0.0781.
Braxia Scientific Achieves Milestone as Landmark Psilocybin Clinical Trial Commences, Participants Receive First Doses of Psilocybin
Medical research company with clinics providing innovative psychedelic treatments for persons with depression and related disorders, Braxia Scientific Corp (OTCMKTS:BRAXF), confirmed on December 14, 2021, reaching a milestone as first Health Canada-approved multiple-dose psilocybin clinical trial. The trial had started with the first patients given dose in November 2021.
Sponsored by Brain and Cognition Discovery Foundation, the trial is being conducted at the Canadian Rapid Treatment Center of Excellence, a wholly-owned subsidiary of the firm. It also includes adults with treatment-resistant depression as part of the bipolar or unipolar disorder, that haven’t benefitted from several conventional treatments.
This study is the only Health-Canada approved psilocybin trial in the country, recruiting participants at this time.
From the 300 million people suffering from depression globally, it is estimated that about two-thirds of people getting treatment will not respond properly to the treatments, making patients with TRD a significant part of the population dominating mental health services.
Braxia Scientific CEO Dr. Roger McIntyre said that it is a historic occasion for the patients and also for the company and organizations endeavoring to discover and develop innovative rapid-acting psychedelic treatments for the mental health sector.
Roger added that patients having undergone two and a dozen such unsuccessful conventional treatments for depression will find the remedy a potential and innovative treatment.
Dr. Joshua Rosenblat, Braxia’s Chief Medical and Scientific Officer and the Principal Investigator of the trial said that the only way to legally access psilocybin treatment is through Health Canada-approved clinical trials.
Rosenblat added that tremendous infrastructure will allow the company to give psilocybin-assisted therapy.
Traders Corner
BRAXF stock is trading below the 20-Day and 50-Day Moving averages of $0.0917 and $0.1230 respectively. The stock is trading in neutral zone with the RSI at 30. The stock is up 74% in the past 6-month.
