In its Q3 financial and business results for the period ended November 30, 2022, UK-based psychedelic company, Small Pharma, reported progress in its clinical development efforts and patent portfolio.

The company highlighted a few clinical milestones for the period, including: 1) completing the Phase 2a clinical trial of SPL026, an intravenous (IV) N,N-dimethyltryptamine (DMT) therapy; 2) preparing for a Phase 2b international multi-site clinical trials of SPL026, which it plans to initiate in the 1H of 2023; 3) initiating the drug interaction Phase 1b study of its selective serotonin reuptake inhibitor (SSRI); 4) initiated Phase 1 study in intramuscular administration of SPL026; and 5) collaborated with University College London to provide SPL026 for a neuroplasticity brain-imaging study. 

Small Pharma also expanded its patent portfolio with three newly granted patents, bringing the total number of granted patents to 14. It also has over 90 (psychedelic and non-psychedelic) patent applications pending. 

Currently, the company has a cash and cash equivalents balance of CAD 22.7 million, compared to CAD 40.7 million in February 2022.