Vancouver-based psychedelic extraction and drug discovery company Filament Health has released its financial results for Q4 ending December 31, 2022. For FY2022, the company reported licensing revenues of USD 0.4 million and cash used in operating activities of USD 3.9 million. 

Filament highlighted a few operational milestones during the quarter including 1) receiving two patents from the United States Patent and Trademark Office (USPTO), bringing the company's total number of patents to 10; 2) entering a worldwide licensing agreement with Psyence Group to provide PEX010 (25mg) for Psyence Group's clinical trials in palliative care; and 3) completing the dosing of 14 subjects in a Health-Canada-approved psilocybin trial run by ATMA Journey Centers.

Subsequent to Q4 2022, the company has formed a joint venture with Jaguar Health with USD 1 million in committed funding from One Small PLant Capital to create Magdalena Bioscience, a development company specializing in natural prescription medicines derived from plants for mental health indications.

The company reported a cash and cash equivalent balance of USD 2.8 million, as of the reporting date.