Optimi Health Stock Price, News & Analysis

Optimi Health Corp. has submitted a clinical trial application for a Phase I study to evaluate the safety of its natural psilocybin standardized extract and proprietary MDMA drug candidate in healthy therapists. This trial, conducted in collaboration with ATMA Journey Centers, is the first to compare the effects of both substances. The study aims to enroll 25 participants across five groups, assessing safety and physiological markers. The company aims to address the significant shortage of therapists trained in psychedelic therapy as it progresses towards commercialization.

Optimi Health Corp. has announced the successful production of its proprietary MDMA drug candidate, OPTI-MHCL, under Good Manufacturing Practices (GMP) at its facility in Princeton, British Columbia. The drug, which demonstrates a purity of over 99%, is intended for clinical trials and patient access through Health Canada’s Special Access Program and Australia’s Authorized Prescriber Scheme.

Optimi aims to meet the growing global demand for MDMA, particularly with advancements towards FDA approval for MDMA-assisted therapy for PTSD. This end-to-end manufacturing process positions Optimi as a significant supplier in the psychedelics market.

Optimi Health Corp (OTCQX: OPTHF) announced a significant expansion of its sales network in Canada on January 17, 2023. The company, licensed by Health Canada, produces natural psilocybin and functional mushrooms. Key partnerships have been formed with Purity Life Health Products for distribution and M2 Brand Management as the exclusive retail broker to increase brand presence. Products will be sold online via Amazon.ca and at six Holt Renfrew locations by February 2023. The CEO has emphasized that this expansion is a critical part of their revenue strategy moving forward.

Optimi Health Corp. announces the re-election of five board members following its Annual General Meeting on January 9, 2023. The directors re-elected include Bryan Safarik, Jacob Safarik, Jon Schintler, Dane Stevens, and JJ Wilson. The company also expressed gratitude to outgoing director Michael Stier. Additionally, Smythe LLP was re-appointed as the auditor, and the Company’s Equity Incentive Plan was re-approved. Optimi operates under Health Canada regulations, focusing on natural and synthetic psychedelic substances and functional mushrooms for the wellness market.

Optimi Health applauds Alberta's decision to regulate psychedelics for therapeutic use, highlighting the importance of a safe supply of psilocybin and MDMA for mental health treatment. Effective January 16, 2023, physicians will be able to prescribe these substances for treatment-resistant conditions. As the largest cultivator of EU-GMP psilocybin and MDMA in North America, Optimi is strategically positioned to support the province's new framework. The company's CEO describes this regulatory move as politically courageous, reaffirming the clinical benefits of psychedelics in addressing mental health challenges.

Optimi Health Corp (OTCQX: OPTHF) announced plans to initiate a Phase I clinical trial in collaboration with ATMA Journey Centers to assess the safety of its natural psilocybin and MDMA formulations in healthy subjects. This trial, pending Health Canada's approval, aims to gather critical health data including blood pressure and heart rate, marking a significant milestone towards commercialization. Following ATMA's previous trial success, Optimi's CEO expressed confidence in the demand for these therapies among healthcare professionals, who are awaiting effective psychedelic solutions.

Optimi Health Corp. has announced the completion of what it believes to be Canada's largest legal natural psilocybin harvest. Achieving over 150 kg of Panaeolus cyanescens and Psilocybe cubensis, the harvest will undergo rigorous analytical testing before global distribution. The company is licensed by Health Canada and focuses on producing EU-GMP grade psilocybin, MDMA, and functional mushrooms, emphasizing quality and potency. This development supports planned clinical trials aimed at addressing mental health issues such as depression and PTSD.

Optimi Health Corp. (OTCQX: OPTHF) has entered a large-scale international distribution agreement with Avida Global, a UK-based wellness products producer. Optimi will supply Avida with its functional mushroom supplement formulations, making Avida the exclusive distributor in several countries including the UK, EU, and Japan. The functional mushroom market in Europe is projected to reach USD 107 million by 2028. This partnership aims to leverage Avida's distribution network while aligning with Optimi’s goal to become a top supplier in the industry and exploring future sales of psilocybin mushrooms.

Optimi Health Corp. (CSE: OPTI, OTCQX: OPTHF) announced an operational update regarding its year of commercialization plan initiated in Q1 2022. The company focuses on producing EU-GMP grade psilocybin and synthetic psychedelics. Recent advancements in regulatory support are noted, with FDA approval for psychedelic therapy anticipated within 24 months. Optimi has secured multiple supply agreements and is positioned to launch its product catalogue, including Canada’s first therapeutic psilocybin product, Blue Serenity. The company is on track to begin large-scale MDMA production by October 2022.