BetterLife Pharma (BETR.CN) is a Biotech company focused on developing second generation psychedelic compounds and nutraceuticals. Their products will address the unmet needs in the mental health, wellness and anti-aging industries.
The idea of second generation psychedelics interests me. Getting the benefits of psychedelics for mental health but without the trip. Non-hallucinogenic LSD.
Some might say the hallucinogenic part is the best part that makes the experience, but from a medical perspective, BetterLife explains that these drugs must be administered in special clinics (higher costs) and controlled substances are highly regulated and is a difficult process.
Here is a snapshot of Betterlife’s Pipeline:
Everything is still in the early stages, and the Topical Biphasix cream is the most advanced. The Covid-19 inhaler product is one of note, and any developments on that front could be bullish for the stock. Recent news discusses the first enrolled patient in the Phase 1 trial of the inhaler in Chile. If you are interested in the stock price, watch for the results.
The most recent news is regarding the application for patent protection of new compositions of 2-bromo-LSD for its use in the treatment of cluster headaches, neuropathic pain and range of mental health conditions, including depression, anxiety and PTSD, and related disorders.
“The inventions covered by this provisional patent filing hold great promise, and helps us advance on our path to becoming a leader in the psychedelic drug space which is estimated to become a US $6.85-billion industry by 2027. We are excited to be developing and bringing to market treatments addressing cluster headaches, neuropathic pain and range of mental health conditions, including depression, anxiety and PTSD, and related disorders.”- Ahmad Doroudian, CEO of BetterLife Pharma.
Biotech is similar to mining where funding and cash positions can be a problem. Funding is required to advance projects and spark catalysts for the stock price. This is where good management with experience and a proven track record comes in.
Take a look at the Management of BetterLife:
You can take a look at the rest of the management team here, but what is important is the proven track record with Merus Labs, some management’s experience in this sector with Pfizer and other large pharmaceutical companies, and the development of drugs. These guys have had success.
I want to start off with a broad view of the chart. BetterLife Pharma has a market cap of $22 Million currently, and has been falling since the beginning of 2021. Nothing moves down, or up, forever, and there are some signs the stock could finally be basing.
Zooming in further, and traders and investors are presented with a well defined range between $0.23 and $0.36. The stock has been ranging since June of 2021. From here, we either breakdown and continue lower, printing new record all time lows. Or we breakout of the range and begin a new uptrend. A range generally occurs when a trend shift is about to happen, so this is a good sign. But the trigger still remains the breakout confirmation, meaning a close above $0.36. If we do not, a downside break and downtrend continuation remains possible.
Technically, the stock price presents a bullish opportunity. As a trader, I would be keeping tabs on this chart. As a longer term investor, it depends on future catalysts to push price higher and maintain the uptrend even when we breakout of the range. This is where management comes in play, and as discussed, the team has had past success. They know what they are doing.
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