Tryp Therapeuatics (TRYPF) Coverage Report

COMPANY SUMMARY Tryp Therapeutics is a San Diego-based pharmaceutical company focused on developing psychedelic compounds with known activity and/or safety profiles for the treatment of diseases with high unmet medical needs. Under its Psilocybin-For-Neuropsychiatric Disorders (PFN) program, Tryp’s most advanced drug development programs are designed to treat neuropsychiatric disorders through the novel dosing of formulations of synthetic psilocybin. The primary indications for its PFN programs include binge eating and hypothalamic obesity, as well as inadequately addressed chronic pain conditions: phantom limb pain (PLP); fibromyalgia; and complex regional pain syndrome. In addition, Tryp’s pipeline includes a proprietary formulation of razoxane for the treatment of soft tissue sarcomas. We believe the company is considering out-licensing or selling the rights to this program, which would provide important capital for this relatively young company. On December 17, 2020, Tryp Therapeutics Inc. successfully closed its initial public offering on the Canadian Stock Exchange and on December 18, 2020, began trading under the symbol “TRYP”. On March 16, 2021, Tryp Therapeutics (USA) Inc. was incorporated in the State of Delaware and has subsequently been consolidated into Tryp Therapeutics Inc. On April 5, 2021, Tryp Therapeutics Inc. initiated quoting activity on the OTCQB Venture Market under the symbol “TRYPF”. Prior to these activities as a public company, the company was founded in September 2019 as Artos Pharma Corp in Kelowna, BC, Canada and on June 30, 2020, changed its name to Tryp Therapeutics Inc. Tryp will be testing TRP-8802 in three proof-of-concept Phase 2a trials before yearend (see Exhibit 1). TRP-8802 is a non-proprietary 25mg capsule of cGMP synthetic psilocybin that has been sourced by Usona Institute (www.usonainstitute.org/drug-supply/) , based in the U.S. Meanwhile, TRP-8803 is to advance into Phase 2b’s and beyond. Formulation work and manufacturing of TRP-8803 is being completed by Curia (f.k.a. AMRI [private]) and Alcami (private), respectively, on a proprietary psilocybin. In March 2021, Tryp announced a provisional patent filing for a non-indication specific, improved administration of psychedelics (US 63/161,070). We are looking for Phase 2a readouts by mid-’22 and for the Phase 2b’s to start in 2H’23. The Principal Investigator of two of the Phase 2a’s have been selected (see Exhibit 1). Tryp has selected Fluence (www.fluencetraining.com) to develop the psychotherapy training and protocols for the studies and drug administration. Exhibit 1: Tryp Therapeutics’ pipeline Source: Tryp Therapeutics’ July 29, 2021, corporate presentation Michael Higgins 212.409.2074 Tryp Therapeutics, Inc. (TRYPF) Page 2