San Diego, California--(Newsfile Corp. - June 1, 2021) - Tryp Therapeutics (CSE: TRYP) (OTCQB: TRYPF) (FSE: 8FW) ("Tryp"), a pharmaceutical company focused on developing compounds for diseases with unmet medical needs through accelerated regulatory pathways, announced today that it is presenting at the "Psychedelics in Psychiatry and Beyond" conference sponsored by H.C. Wainwright & Co. The conference will be held virtually on June 17, 2021. Greg McKee, Chairman and CEO of Tryp, will provide an overview of the business and its pipeline including Tryp's Psilocybin-For-Neuropsychiatric Disorders (PFNTM) program for chronic pain and eating disorder indications.
Details of the presentation are as follows:
Date:Thursday, June 17th, 2021
Time:Tryp's presentation will be available to access beginning at 7:00 a.m. EDT
The Company is also pleased to announce that it has adopted a new form of stock option plan (the "New Plan"). The Company's prior option plan (the "Prior Plan") was updated to align with certain U.S. regulatory requirements, including pursuant to the United States Internal Revenue Code. Certain directors and officers of the Company who were granted stock options under the Prior Plan have requested that those options be cancelled and re-issued under the New Plan and the Company, having received the prior approval of the Canadian Securities Exchange (the "CSE"), has acquiesced to such request. Consequently, effective June 1, 2021, the Company has: (i) cancelled an aggregate of 6,000,000 options granted under the Prior Plan (the "Cancelled Options"); and (ii) granted an aggregate of 6,000,000 options under the New Plan (the "New Options"). The term and vesting periods of the New Options are identical to the term and vesting periods of the Cancelled Options. The exercise prices of the New Options have been set at the same exercise prices of the Cancelled Options, which are higher than the closing market price of the Company's common Shares on the CSE today such that there is no economic impact to the Company.
About Tryp Therapeutics:
Tryp Therapeutics is a pharmaceutical company focused on developing compounds for the treatment of diseases with unmet medical needs through accelerated regulatory pathways. Tryp's Psilocybin-For-Neuropsychiatric Disorders (PFN™) program is focused on the development of synthetic psilocybin as a new class of drug for the treatment of certain neuropsychiatric disorders. Tryp's lead PFN™ drug candidate is TRP-8802 for the treatment of fibromyalgia, a chronic pain syndrome estimated to affect more than 5 million people in the United States. The Company is also preparing to initiate a Phase 2a clinical study for eating disorders in partnership with Jennifer Miller, M.D. at the University of Florida.
Certain information in this news release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Tryp as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of Tryp's final prospectus available atwww.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Tryp; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and Tryp expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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