Filament Health: 2022 Financials And Operational Highlights From Creator Of The Ayahuasca Pill

The natural psychedelics company responsible for creating the first standardized ayahuasca capsule, Filament Health Corp. FLHLF, shared its financial results and operational highlights for the period ended December 31, 2022.

Numbers show:

• Total cash of $2.08 (CA$2.8) million as of Dec. 31, 2022, as compared to $3.4 million by Dec. 31, 2021. 

• Cash starting point of 2022 was $4.6 million, while $652.937 in 2021.

• R&D expenses nearly doubled, from $354.258 in 2021 to $623.744 in 2022.

• 2022 saw no expenses in clinical trials compared to the $679.113 spent in 2021, yet a newly acquired licensing revenue of $270.932. 

• Yearly net and comprehensive loss of $12.1 million compared to $6.8 million the prior year, including total expenses of $4.4 million vs. $6.9 million respectively.  

• 2022 saw a 2021-inexistent impairment of goodwill for a total $7.9 million.

During the fourth and last quarter of 2022, the company’s milestones included the successful subject dosing in a Canadian psilocybin trial run by ATMA Journey Centers; an academic supply agreement with the Center for Addictions and Mental Health (CAMH); two new patent issuances from the USPTO; and a global licensing agreement with Psyence Group to provide PEX010 (25mg) for clinical trials in palliative care.

See also: Filament Health Shares Q3 2022 Results, On Road To Becoming Industry's Natural Psilocybin Supplier

Moving forward into 2023, Filament created joint venture Magdalena Biosciences Inc. with Jaguar Health Inc. JAGX; has PEX010 participating at two investigator-initiated trials, one for patients with Alcohol Use Disorder (AUD) at Psychiatric Centre Copenhagen and another at the UC-SF’s Translational Psychedelic Research Program for patients with Methamphetamine Use Disorder (MAUD); and finally, inked a second supply agreement with CAMH, this time for PEX010 tested for mild cognitive impairment.

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Photo: Benzinga edit with photo by Raimundo79 and Blue Planet Studio on Shutterstock.