Bioxyne has plenty of ‘shroom to move after first psilocybin sale.
A first mover in making psychedelic medications, Bioxyne (ASX:BXN) has reported its first local order for its psilocybin capsules.
The company is the only compliant local manufacturer of this substance – a.k.a. ‘magic mushrooms’ – which is being trialed for treatment-resistant depression.
Psilocybin also could be relevant for anxiety, substance abuse and post-traumatic stress disorder.
Bioxyne has supplied the capsules to clinicians in Queensland and WA, who work via the Therapeutic Goods Administration’s Authorised Prescriber Scheme.
The order is for 250 doses: enough to treat around 60 patients for the next 12 months.
“This represents only a small fraction of Australia’s estimated addressable market of approximately 300,000 patients living with treatment-resistant depression,” Bioxyne says.
“The company is prepared to scale manufacturing and supply significantly over the next 12 months to meet anticipated demand across Australia.”
Earlier, Bioxyne shipped its first order for MDMA – ‘Molly’ – which it also manufactures.
For the time being, the company derives most of its revenue from making and selling medical cannabis, both here and in Europe and the UK.
Article by Stockhead – https://stockhead.com.au/health/health-check-csl-loses-16-billion-of-value-in-a-bloody-results-horror-show/