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Optimi Health Up 10% in U.S. Pre-Market After Securing Ibogaine Supply and Starting Its Finished Drug Product Development

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U.S.-listed shares of Optimi Health (OPTI.CN, OPTH) rose 10% on Monday after it secured naturally derived ibogaine from two sources, in both hydrochloride (HCl) and freebase form.

Development work on the finished drug product is expected to start this summer at the company's GMP facility in British Columbia, Canada. Two dosage sizes, 50mg and 100mg, are planned in encapsulated format, it said.

"We are seeing a growing number of research institutions interested in ibogaine, and there is real public funding behind it now, including the $50 million program in Texas," said Optimi Chief Executive and Co-Founder Dane Stevens. "We are excited to develop and supply this product from Canada, where we have the facility, the licensing, and the experience to make it into standardized pharmaceutical dosages."

Shares of the company closed down 17% to C$6.50 on Friday on the Canadian Securities Exchange.

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