PharmaTher Holdings Ltd. provided a corporate update outlining the development and commercialization plans and upcoming milestones for its KETARX products and PharmaPatch delivery system. With approximately CAD 6 million in cash as of end-May 2023, the Company is funded to meet its upcoming milestones targeting near-term investment and revenue opportunities over the next 24 months. PharmaTher's priority is to commercialize KETARX under ketamine's FDA-approved label.

The Company expects to market various dosage forms of KETARX, such as 10 mg/ml, 50 mg/ml and 100 mg/ml, with the option to increase concentration and ready-to-administer applications for the U.S. and international markets.etamine is currently on the FDA's drug shortage list. Outside of the FDA approved indications, ketamine is also being administered in hospitals and clinics to treat various disorders encompassing mental health, neurological and pain. The Company expects to file its abbreviated new drug application ("ANDA") with the FDA in early July and obtain FDA approval in First Quarter-2024.

Also, the Company will pursue international approvals for KETARX to support the growing global demand for ketamine. The Company is in discussion with a specialty pharmaceutical company to market, distribute and sell KETARX in the U.S.PharmaPatch is a proprietary microneedle-enhanced delivery system offering an efficient and painless method for delivering drugs, including psychedelics and medicines to treat infectious diseases. PharmaPatch may enable flexible drug load capacity and combinations, controlled released delivery, and the ability to present desired pharmacokinetic and safety profiles.

The Company is actively engaged in partnering discussions for the use of PharmaPatch to deliver psychedelics and potential infectious disease treatments in addition to the various collaborations already in place with several pharmaceutical companies.