Awakn Life Sciences Receives Bold Price Target From H.C. Wainwright

Awakn Life Sciences in an emerging leader in the European psychedelics space. Its operations are co-focused on drug developing New Chemical Entities (NCEs) to treat alcohol and behavioral addictions, as well as delivering psychedelic-assisted therapies in the European market in outpatient clinical settings. Awakn intends to deliver these evidence backed psychedelic therapies in clinics in the UK and Europe and through licensing partnerships globally.

While the company sports a robust news cycle in 2022, its recent Phase II A/B trial results have received the most acclaim. The primary outcomes of abstinent and relapse both showed material results, with total abstinence in 162 of 180 days in the following 6-month period, while abstinence increased from around 2% prior to the trial to 86% post-trial. The results for relapse at 6 months, showed that the Ketamine plus Ketamine in the Reduction of Alcoholic Relapse (KARE) group’s risk of relapse, was 2.7 times less than the placebo plus alcohol education group.

Just as significantly, no serious adverse events were reported.