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Braxia Scientific Corp. (OTC Pink: BRAXF) has issued a series of detailed news releases that trace its evolution from a medical research and telemedicine company operating multidisciplinary mental health clinics to a corporation in the process of winding down. Earlier disclosures describe Braxia Scientific as focusing on clinics that provide ketamine treatments, and at times psilocybin treatments, for persons with depression and related disorders, combined with research into novel drugs and delivery methods.
News coverage for Braxia Scientific includes financial results, corporate updates, and strategic reviews. The company has reported on treatment volumes and revenue trends at its clinics, efforts to reduce expenses and improve efficiencies, and a formal process to explore strategic alternatives such as potential sales, mergers, asset sales, or other significant transactions. These releases provide context on how the company’s mental health clinic operations and research activities have been managed over time.
More recent news has focused on regulatory and corporate restructuring events. Braxia Scientific announced an application for a management cease trade order, the subsequent issuance of a failure-to-file cease trade order by the Ontario Securities Commission, and the suspension of trading of its shares on the Canadian Securities Exchange. Additional releases detail the approval and completion of a transaction involving the sale of all or substantially all of the company’s assets, including the assets of its wholly owned clinic operator subsidiary.
Following the asset sale, Braxia Scientific disclosed that it has minimal cash assets, a significant working capital deficiency, and plans to wind down operations with no intention to pursue further business. Investors and observers can use the news flow associated with BRAXF to understand the company’s historical clinic and research activities, its financial and regulatory challenges, and the steps leading to its current wind-down status. This page aggregates those announcements so readers can follow the sequence of events affecting Braxia Scientific over time.
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Braxia Scientific Corp. announced the results from its Annual General and Special Meeting of Shareholders held on October 31, 2022, where 16.55% of common shares were represented. All four nominees for the board of directors—Roger McIntyre, Olga Cwiek, Leann Taylor, and Jerry Habuda—were elected with significant approval rates ranging from 98.9% to 99.6%. Additionally, shareholders approved the appointment of DMCL as auditors for the upcoming year and amended the stock option plan. Detailed results will be filed on SEDAR.
Braxia Scientific Corp. announced the appointment of Leann Taylor, President and COO of KetaMD, to its board of directors. KetaMD, a telemedicine platform acquired by Braxia, offers at-home ketamine treatments for mental health disorders including depression, bipolar disorder, and PTSD, currently operating in Florida with expansion plans underway. Braxia focuses on delivering innovative ketamine treatments and conducting research on novel drugs. Its clinics are located throughout Canada, aiming to alleviate the burden of mental health disorders.
Braxia Scientific Corp. (OTC: BRAXF) announced the successful launch of KetaMD in Florida, providing innovative at-home ketamine treatments for mental health disorders. The program, overseen by licensed healthcare practitioners, aims to enhance access for patients facing barriers to care. As part of National Suicide Awareness month, KetaMD has increased its operational capacity to assist residents in need. CEO Warren Gumpel emphasized the long-term vision of expanding KetaMD across the U.S., making mental health treatment more accessible.
Braxia Scientific Corp. (CSE: BRAX, OTC: BRAXF) is participating in the H.C. Wainwright Global Annual Investment Conference in New York from September 12-14, 2022. CEO Dr. Roger McIntyre will present virtually, discussing the company’s recently acquired telemedicine business, KetaMD, and plans for clinical research expansion. The presentation will be available on-demand on September 12 at 7:00 a.m. ET. Braxia specializes in innovative ketamine treatments for depression through its multidisciplinary clinics across Canada and plans to leverage technology for telemedicine in the U.S.
Braxia Scientific Corp. has received Health Canada's Special Access Program approval for psilocybin-assisted therapy for depression in Ontario. The company has completed over 6,000 treatments and reported positive preliminary results from its Phase II clinical trial on multi-dose psilocybin for Treatment-Resistant Depression. For the fiscal year ending March 31, 2022, Braxia reported revenues of $1.49 million, a 47.5% increase from the previous year, despite a net loss of $12.1 million. The company continues to expand its clinic footprint and has strengthened its leadership team to drive growth.
Braxia Scientific Corp. has announced the addition of Jason Wolkove as Chief Information Officer and Daniel Herrera as Vice President of Research & Development and Growth. These strategic appointments aim to enhance Braxia's capabilities in expanding clinical services and developing innovative ketamine and psilocybin treatments for depression. Wolkove brings over 20 years of technology and management experience, while Herrera contributes over 15 years in the pharmaceutical industry, enhancing the company's pipeline and growth strategy.
Braxia Scientific Corp. announced preliminary positive results from its Phase II clinical trial evaluating psilocybin-assisted therapy for treatment-resistant depression. The trial showed a high recruitment rate of 159 participants, with a 93% retention to the primary endpoint and no serious adverse events reported. Clinically meaningful improvements in depression severity were noted, with full analysis expected by December 2022. Braxia aims to provide innovative mental health treatments, having previously received Health Canada approval for psilocybin-assisted therapy.
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