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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.
Braxia Scientific has received Health Canada approval to provide psilocybin-assisted therapy for a patient with Major Depressive Disorder in Ontario. This is the company's first approval under the Special Access Program (SAP) for psilocybin. Since 2021, Braxia has delivered this therapy to 16 individuals as part of a clinical trial. The rapid approval process for the SAP, as opposed to the earlier Section 56 exemption, allows quicker access to treatment. Braxia aims to be a leader in innovative mental health therapies and research.
Braxia Scientific Corp., a leader in innovative ketamine treatments for depression, will participate in the H.C. Wainwright Global Investment Conference from May 24-26, 2022, in Miami, Florida. CEO Dr. Roger McIntyre will present the Company’s progress on expanding access to novel treatments and the clinical research infrastructure for its growing pipeline of clinical trials. Notably, Braxia is conducting Canada’s first multi-dose psilocybin-assisted therapy trial, expected to yield preliminary results soon. One-on-one meetings with institutional investors will also be hosted by Dr. McIntyre.
Braxia Scientific Corp. (CSE: BRAX, OTC: BRAXF) announced that its CEO, Dr. Roger McIntyre, will speak at the American Psychiatric Association Annual Meeting in New Orleans on May 21, 2022. Dr. McIntyre will participate in two discussions focusing on innovative treatments for treatment-resistant depression. The first session will review Ketamine and Esketamine, while the second will explore current practices and future pathways for managing treatment-resistant depression. Braxia Scientific is dedicated to developing ketamine treatments for mental health disorders.
Braxia Scientific Corp. announced that CEO Dr. Roger McIntyre and Chief Medical Officer Dr. Josh Rosenblatt will present at the Ketamine and Related Compounds 2022 International Conference hosted by the University of Oxford in Oxford, England from April 4-6, 2022. The conference focuses on ketamine research and treatment for depression and related disorders.
Dr. McIntyre's sessions include discussions on ketamine treatment for treatment-resistant depression and a debate on its prescription for depression, while Dr. Rosenblatt will present real-world data on depression treatment outcomes.
Braxia Scientific Corp. has initiated a landmark psilocybin clinical trial in Canada, providing immediate access to treatments for Treatment Resistant Depression (TRD). The trial, the first of its kind approved by Health Canada, has begun administering doses to over a dozen patients. Braxia has also administered approximately 5,500 ketamine treatments, reporting a year-over-year revenue increase of 13.3% in Q3 2022. However, the company's net loss rose to $2.52 million, indicating financial challenges ahead.
Braxia Scientific Corp. provides an update on its leadership role in the psychedelics industry as of January 31, 2022. The company has administered over 5,200 ketamine treatments and published 43 ketamine-related manuscripts. Its Canadian Rapid Treatment Centre of Excellence is evaluating psilocybin-assisted therapy. Dr. Roger McIntyre emphasizes the company's competitive advantage through its research team and proprietary health database. Braxia aims to expand its drug development efforts and establish treatment protocols, aligning with evolving best practices in mental health interventions.
Braxia Scientific Corp. has launched Canada’s first Health Canada-approved multi-dose psilocybin clinical trial for treatment-resistant depression (TRD), marking a significant advancement in mental health treatments. The trial began in November 2021 at Braxia's CRTCE clinic, with over 150 referrals received in the first six weeks. This initiative not only provides a new treatment framework but also positions Braxia as a leader in psychedelic research. The trial aims to address the unmet needs of the two-thirds of patients who inadequately respond to conventional therapies.
Braxia Scientific Corp. announced that CEO Dr. Roger McIntyre will join the advisory board of KetaMD, a telemedicine platform offering at-home ketamine treatments for mental health disorders. Dr. McIntyre, a leading expert with nearly 750 research publications, aims to enhance KetaMD's approach to accessible ketamine therapy as mental health issues rise, especially during the pandemic, where 41% of U.S. adults reported anxiety or depression. The collaboration seeks to effectively mainstream ketamine therapy, potentially benefiting countless individuals.
Braxia Scientific Corp. (CSE: BRAX, OTC: BRAXF) has announced its CEO, Dr. Roger McIntyre, will deliver a keynote speech at the Wonderland: Miami conference on November 8, 2021. He will address the challenges faced by patients with medication-resistant mental health issues and the importance of innovative therapies like ketamine. Braxia will also participate in a panel discussion on November 9, 2021, focusing on the mainstream acceptance of ketamine for treating various mental health disorders. The company's focus remains on providing innovative ketamine treatments and conducting related research.
Braxia Scientific Corp. has successfully completed a training program for psilocybin-assisted clinical therapy involving 20 therapists from diverse backgrounds. This initiative, led by the Braxia Institute, aims to prepare professionals for administering psilocybin therapy as part of a Health Canada-approved clinical trial targeting depression. The program emphasized the therapeutic use of psilocybin, alongside psychotherapy, to enhance patient treatment outcomes. With regulatory approval pending, Braxia anticipates expanding its psychedelic treatment options.