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Field Trip Health FY2022 update: Clinic network expands to 12, lower than original target
Psychedelic Medicine
Jun 29
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California Senator pushes psychedelic legalization bill to next year
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Aug 12
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Field Trip completes spinout transaction; raises CAD 20 million in private placements
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Aug 11
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MindMed reports clinical trials progress; expects Phase IIb results in 2023
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Aug 11
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Lobe Sciences partners with iNGENu to conduct clinical trials in Australia
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Aug 10
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Cybin commences Phase I/IIa trial of CYB003; announces USD 35 million equity program
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Aug 8
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Field Trip Health & Wellness Ltd to list on Toronto Stock Exchange
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Aug 4
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HAVN Life Sciences to raise CAD 9 million from Alpha Blue Ocean
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Jul 21
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Awakn Life Sciences receives UK government funding for Phase III trial
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Jul 20
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Compass Pathways appoints Kabir Nath as new CEO
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Jul 19
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Awakn to offer ketamine-assisted therapy in clinics across North America
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Jul 15
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Numinus reports increased clinic revenue in Q3; expands clinic network via Novamind acquisition
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Jul 14
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Tryp Therapeutics closes third tranche of private placement with CAD 0.2 million
Psychedelic Medicine
Jul 8
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Filament Health to raise CAD 2.5 million via private placement
Psychedelic Medicine
Jun 30
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Cybin reports full-year 2022 results
Psychedelic Medicine
Jun 22
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Wellbeing Digital Sciences releases Q3 2022 results
Psychedelic Medicine
Jun 16
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Revitalist raises CAD 3.9 million in private placement
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Jun 15
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Awakn Life Sciences releases financial results for Q1 2022
Psychedelic Medicine
Jun 14
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Numinus Wellness completes acquisition of Novamind; enters US market
Psychedelic Medicine
Jun 10
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Innerwell launches from stealth, raising USD 3 million in pre-seed funding
Psychedelic Medicine
Jun 3
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Tripp raises USD 11.2 million in Series A funding; acquires Eden
Psychedelic Medicine
Jun 1
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Silo Wellness to acquire Dyscovry Science; enters drug development space
Psychedelic Medicine
May 31
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Wesana Health releases Q1 2022 financial results
Psychedelic Medicine
May 31
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Novamind achieves record revenue of CAD 3.2 million in Q3 2022
Psychedelic Medicine
May 31
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PsyBio Therapeutics provides clinical update for Q1 2022
Psychedelic Medicine
May 30
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Mydecine closes overnight marketed public offering with CAD 2.8 million
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May 27
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Mycotopia Therapies to merge with Ei.Ventures to form PSLY.COM
Psychedelic Medicine
May 23
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Beckley Psytech partners with Empatica for digitalized clinical trial support
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May 19
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Psychedelic Medicine
May 19
Psychedelic Medicine

Psychedelic Medicine

Jun 29

Field Trip Health FY2022 update: Clinic network expands to 12, lower than original target

Earnings/results

  • In its full-year financial and business results for the period ended March 31, 2022, Toronto-based psychedelic therapy company Field Trip Health posted a 406% YoY increase in revenue to CAD 4.9 million (USD 3.8 million), generated via its patient services. The net loss for the year stood at CAD 54.7 million (USD 42.3 million), more than doubling that of last year.

  • Field Trip reported progress in its clinics division with the opening of new clinics across Canada and US, bringing the total number of treatment centers to 12 by the end of the fiscal year, which is lower than its target of reaching 20 clinics (both operational and under construction) announced in March 2021. As for the R&D division, the Phase I enabling studies were completed for its lead candidate FT-104, which received a patent in April 2022. 

  • Subsequent to the quarter’s end, Field Trip announced a spinout transaction to split its Field Trip Health and Field Trip Discovery divisions into two separate public companies. Upon completion of the transaction (potentially in August 2022) both companies will be rebranded to Field Trip Health and Wellness Ltd. (Field Trip H&W) and Reunion Neuroscience, respectively. The company also partnered with NUE Life to launch Field Trip at Home, an at-home psychedelic wellness offering.

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