PharmAla Launches “MDXXF” Ticker Amid MDMA Research

LOS ANGELES- PharmAla Biotech Holdings Inc., a biotechnology company specializing in the research, development, and manufacturing of novel MDMA derivatives (MDXX class molecules), has announced the introduction of its new OTC ticker symbol, “MDXXF.” This change, effective from January 24th, signifies a strategic alignment with the company’s core business focus.

The announcement was made by Nick Kadysh, CEO of PharmAla Biotech, who expressed heightened anticipation for the upcoming period. This anticipation is particularly driven by the impending decision of the U.S. Food and Drug Administration (FDA) on its approach to assessing MDMA as a therapeutic molecule. Kadysh highlighted PharmAla’s leading global position in the development of MDMA and MDXX class molecules, indicating the potential increase in attention from U.S. audiences in the forthcoming months.

PharmAla Biotech, which trades under the symbols CSE: MDMA and OTCQB: MDXXF, is uniquely positioned in the biotechnology industry. It is currently the only company provisioning clinical-grade MDMA for patient treatments outside of clinical trials. PharmAla’s commitment extends beyond supplying generic MDMA; it is actively engaged in developing novel drugs within the same class. Its R&D unit has successfully completed proof-of-concept research for several intellectual property families, including ALA-002, their lead drug candidate.

Emphasizing a “regulatory first” philosophy, PharmAla believes that true success in the psychedelics industry can be achieved through strong regulatory relationships. The company’s approach is not only focused on alleviating the global shortage of clinical-grade MDMA for trials and commercial sales but also on pioneering new therapeutic compounds in the MDXX class.