Awakn Life Sciences Reports Third Quarter Fiscal 2021 Financial Results and Highlights

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Toronto, Ontario – (Newsfile Corp. – December 15, 2021) – Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (‘Awakn’), a biotechnology company developing and supplying psychedelic therapies (drugs and therapies) to treat drug addiction, today presents its financial results and highlights of its operations for the three and nine month periods ended October 31, 2021. All results are presented in accordance with International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise specified.

Anthony Tennyson, CEO of Awakn Life Sciences, said: “Since our IPO in the summer of 2021, we have made significant progress in the development and delivery of effective psychedelic therapies to better treat addiction. A key factor in our success is the world-class team we have with leading experts in the fields of drug development, clinical research, psychiatry, psychotherapy and neurochemistry. As the New Year approaches, we have several significant upcoming catalysts, including our Phase II A / B study which will be published in the American Journal of Psychiatry. “

Commercial and operational updates:

  • Acquisition of exclusive rights to MDMA research from Imperial College London. The MDMA research, data from Phase IIa Bristol Imperial MDMA in Alcoholism Study (BIMA), is an open-label safety, tolerability, and proof-of-concept study aimed at investigating the role of MDMA-assisted psychotherapy in the treatment of patients with alcohol use disorders. (AUD), which resulted in a relapse rate of only 21%, 9 months after treatment.

Highlights and key developments of the company:

Main financial highlights:

  • As at October 31, 2021, the Company had approximately $ 5.7 million in cash and no debt.
  • As of December 14, 2021, there were 24,887,307 million common shares outstanding.
  • First turnover of $ 31,737 via Awakn Oslo AS, compared to $ 0 the previous year.

About Awakn Life Sciences Corp.

Awakn Life Sciences is a biotechnology company that develops and offers psychedelic therapies (drugs and therapies) to better treat addiction. The Awakn team is made up of world-renowned chemists, scientists, psychiatrists and psychologists who develop and advance the next generation of psychedelic drugs, therapies and enabling technologies to treat addiction. Awakn will provide these evidence-based psychedelic therapies in clinics across the UK and Europe and through licensing partnerships globally.

www.awaknlifesciences.com | Twitter | LinkedIn | Facebook

Notice regarding forward-looking information

This press release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs about future events or the future performance of the Company. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “planned”, “estimates”, “continues”. “,” Foresees “,” plans “,” predicts “,” intends to “,” anticipates “,” aims “or” believes “, or variations or negative aspects of these words and expressions or declares that certain actions, events or results “may”, “could”, “would”, “should”, “could” or “will” be taken, occur or be carried out, including statements relating to the proposed NEO listing and the Business of the Company All forward-looking statements, including those contained herein, are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in these statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those of the statements. Certain factors could cause actual results to differ materially from those of forward-looking information. These include: whether the conditions for registration on NEO will be met; the business plans and strategies of the Company; the ability of the Company to comply with all applicable government regulations in a highly regulated business; risks inherent in investing in target businesses or projects that have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; dependence on management; additional financing needs; competetion; inconsistent public opinion and perception regarding the medical use of psychedelic drugs; and regulatory or policy change. Readers are cautioned that the above list of factors is not exhaustive of factors that may affect forward-looking statements. Therefore, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release speak only as of the date of this press release or the date or dates specified in such statements.

Investors are cautioned that these statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking information. For further information on the Company, investors are referred to the public documents filed by the Company on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States. The securities of the Company and of Awakn have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act“) or any state securities law and may not be offered or sold in the United States or to US Persons unless registered under the US Securities Act and the securities laws of the United States. State or an exemption from such registration is available.

Investor requests:
KCSA strategic communication
Valter Pinto / Tim Regan
Telephone: +1 (212) 896-1254
[email protected]

Media inquiries:
America and Canada: KCSA Strategic Communications
Anne Donohoe
[email protected]

Rest of the world: ROUTE communications
Paul Jarman / Anna Ramsey
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107625

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