Therapix Biosciences launches its IPO on NASDAQ on Wednesday, March 22, under the trading symbol TRPX. The Tel Aviv-based company specializing in the development and commercialization of cannabinoid-based treatments has a drug for Tourette Syndrome in Phase 2a trials and is additionally developing a drug for mild cognitive impairment. The IPO helps put it on a path to join much larger companies developing cannabinoid-based drugs.
Therapix Biosciences Ltd. (TRPX:NASDAQ; THXBY:TASE) begins trading on NASDAQ March 22 under the ticker TRPX; the initial public offering is estimated to raise approximately $12 million.
The company’s cannabinoid-based drug for Tourette Syndrome (TS) is in a proof-of-concept phase 2a trial at Yale University. The drug, THX-TS01, combines an FDA-approved synthetic THC—the main active ingredient in marijuana—called dronabinol with PEA, a substance that naturally occurs in food sources such as egg yolks and milk. PEA is approved for sale in Europe as