PharmaTher Holdings Ltd (OTCMKTS:PHRRF) is down 14% in a week. The company has announced that it has successfully completed the first research study in MicroDose-MN in delivering lysergic acid diethylamide (LSD).
Market Stats
On Tuesday, PHRRF stock fell 1.84% to $0.2454 with more than 253k shares, compared to its average volume of 919K shares. The stock has moved within a range of $0.2411 – 0.2610 after opening trading at $0.25.
Major News
MicriDose-MN is a novel intradermal microneedle patch for psychedelics delivery. The results support filing an IND application to carry the second phase clinical trials in 2022 with LSD for different indications. The research program aims to develop a MicroDose-MN prototype for transdermal drug delivery, confirming suitability and compatibility in LSD delivery.
The study scope included full LSD conjugate characterization on the microneedle patch, establishing and demonstrating the loading capacity for LSD, and releasing rate assessments for the LSD conjugated compounds through ideal models that will be employed to support PharmaTher’s IND application.So far, the study with LSD conjugated microneedles has successfully been fabricated, characterized, and optimized. In addition, the ex-vivo and structural aspects of skin insertion of the microneedles have shown successful fabrication and suitable performance. Therefore, PHRRF is worth watching.
Traders Corner
PHRRF stock is trading below the 20-Day and 50-Day Moving averages of $0.30 and $0.38 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.45.
