Field Trip Health CEO talks psychedelics industry, IPO plans

By: Ajay Pal Singh
Ajay Pal Singh
Ajay worked at Tata Motors in project planning before discovering his passion for stocks. Today, he lives in Canada… read more.
on Jun 8, 2021
  • Field Trip develops and delivers psychedelic therapies and it has centres across North America and Europe.
  • Field Trip has filed to go public on NASDAQ.
  • It currently trades in the in the United States on the OTC market (OTCQX) under the symbol "FTRPF".

Field Trip Health Ltd. (OTCMKTS: FTRPF) executive chairman and co-founder Ronan Levy and the company’s special adviser, Tom Daschle, a former United States senator, were on CNBC to discuss the future of the psychedelics industry and the company.

What does the company do?

Field Trip develops and delivers psychedelic therapies and it has centres across North America and Europe.

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According to the CEO, the company currently focuses on psilocybin, MDMA, DMT, LSD and some next generation molecules. The company has two divisions — Field Trip Discovery division and Field Trip Health division. Expanding on the Discovery division, he said:

“One is our Field Trip Discovery Division, which is focusing on the next generation of psychedelic molecules. The current research on the classic psychedelics show incredible promise and efficacy. It doesn’t mean that they can’t be improved on and there are a number of ways that we believe we can improve on Psilocybin in particular.”

While drawing the difference with conventional pharma and explaining the second division, he added:

“On the other side is the Field Trip Health division which is developing and building out the clinical infrastructure to deliver these kinds of therapies. What’s unique about psychedelics is that it’s not conventional pharma or biotech, it is experiential medicine which means the actual experience around the drug session is as important as the drug itself.”

Field Trip has filed to go public on NASDAQ

In a press release earlier today, Field Trip announced that it has applied to list its common shares on the NASDAQ stock market.

“By applying to list on the NASDAQ, we are declaring to the world that Field Trip is such a world class company,” said Levy.

Field Trip will continue to trade on the Toronto Stock Exchange under the symbol “FTRP”. It trades in the in the United States on the OTC market (OTCQX) under the symbol “FTRPF” and will continue to be quoted there until its shares are listed on the NASDAQ.

A real paradigm shift is underway with regard to research and science on psychedelics

Daschle believes that there is a real paradigm shift that is underway right now with regard to research and science. People are also becoming more aware of the capacity of psychedelics to address mental health issues.

He also thinks we are recovering from misinformation that has occurred for decades around these therapies in the past and added:

“As we learn more, as science is applied, we begin to appreciate the tremendous opportunities that exist especially on the mental health side both for cannabis and psychedelics.”

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