FILAMENT HEALTH ANNOUNCES THIRD QUARTER 2024 FINANCIAL RESULTS AND OPERATIONAL HIGHLIGHTS

VANCOUVER, BC, Nov. 14, 2024 /CNW/ – Filament Health Corp. FLHLF (Cboe CA: FH) 7QS (“Filament” or the “Company”), a clinical-stage natural psychedelic drug development company, released its third quarter financial results and operational highlights for the period ended September 30, 2024.

“This quarter we continued to grow our position as the premier global supplier of cGMP botanical psilocybin,” said Benjamin Lightburn, Chief Executive Officer and Co-Founder at Filament Health. “We were pleased to announce a significant expansion of our intellectual property portfolio, with the issuance of 20 new patents in the US, Canada, and Australia, ensuring the protection of our drug candidates and IP.”

Q3 2024 Financial Highlights:

Cash and cash equivalents of $878,717;
Cash used in operating activities of $1,840,498; and
Total revenues of $426,661.

Q3 2024 Operational Highlights:

On August 13, 2024, the Company announced the expansion of its intellectual property portfolio with the acceptance of twelve patents by IP Australia related to the development of botanical psychedelic drugs, five patents by the Canadian Intellectual Property Office, and three patents by the United States Patent and Trademark Office.

ABOUT FILAMENT HEALTH FLHLF (CBOE CA:FH) (FSE:7QS)

Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament’s platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines for clinical development. We are paving the way with the first-ever natural psychedelic drug candidates.

Learn more at www.filament.health and on Twitter, Instagram and LinkedIn.

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute “forward-looking statements” and “forward-looking information,” respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “should”, “believe”, “intends”, “forecast”, “plans”, “guidance” and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning the impact of the patent on the Company’s business and the ability of the Company to secure future patents. Forward-looking statements regarding the Company are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including status of patent applications and the ability to secure patents. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE Filament Health Corp.