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Last Week’s Psychedelics : Cybin And Field Trip Head To Wall Street, Off-Label Ketamine Covered By Insurance In Canada

Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) and Field Trip Health Ltd. (TSX: FTRP) (OTCQX: FTRPF) are one step closer to joining Wall Street’s expanding group…

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Cybin Inc. (NEO: CYBN) (OTCQB: CLXPF) and Field Trip Health Ltd. (TSX: FTRP) (OTCQX: FTRPF) are one step closer to joining Wall Street's expanding group of psychedelics companies. On Thursday, Cybin announced conditional approval to list on the New York Stock Exchange, while Field Trip received similar approval from the Nasdaq on Friday. The moves are expected to bring expanded exposure to both companies and the sector as a whole. “A tier 1 listing in the U.S. can open up avenues to new and potential institutional buying, increased retail buying, and help increase the overall visibility of the company,” Cybin CEO Doug Drysdale told Benzinga. Field Trip Health CEO Joseph del Moral said that the anticipated listing of Field Trip stock on the Nasdaq is a key milestone in the company’s evolution as a publicly traded entity. “We believe this anticipated listing will improve liquidity by enabling more investors to participate in our growth, and ultimately enhance long-term shareholder value,” he added. Both approvals remain conditional and are still subject to final satisfaction of regulatory requirements. As uplistings occur, both companies will maintain the shares listed in their respective Canadian exchanges and uplist their OTC shares to the NYSE in the case of Cybin and to the Nasdaq in the case of Field Trip.

Braxia Gets Canadian Insurance Provider To Cover Off-Label Use Of Ketamine For Treating Depression

Braxia Scientific Corp. (CSE: BRAX) (OTC: BRAXF) announced that it has established direct billing practices for its ketamine treatment at specialized mental health clinics. Clinics from the Canadian Rapid Treatment Center of Excellence Inc., a wholly-owned subsidiary of Braxia with locations in Mississauga, Toronto, Ottawa and Montreal will establish direct billing practices with health insurance provider Medavie Blue Cross for qualifying Canadian military veterans. The insurance provider will cover 100% of oral, nasal spray and intravenous ketamine treatments, plus ... Full story available on Benzinga.com

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