Lobe Sciences Provides Corporate Update on Recent Transactions

Lobe Sciences Ltd., a commercial-stage biopharmaceutical firm, has released a corporate update detailing recent transactions and developments. Notably, on March 14, 2024, Lobe Sciences issued C$678,450 in convertible notes, which can be converted into common shares upon listing on a recognized stock exchange. The company has also issued multiple shares and notes to settle outstanding payments with related parties, involving significant sums and share conversions.

In terms of operations, Lobe continues to advance its Conjugated PsilocinTM and Altemia projects. The company has secured two US patents for psilocin mucate and is pursuing patents in other key markets. Additionally, Lobe Sciences published a Phase 1 clinical trial study and is preparing to submit an Investigational New Drug application following feedback from the FDA.