Emyria Cuts Losses to $3.14M, Raises $5.85M, Expands Psychedelic Mental Health Services
Emyria Limited reports a reduced net loss of $3.14 million for FY2025, driven by strategic expansion in psychedelic-assisted mental health treatments and key partnerships including insurer Medibank. The company advances clinical services while continuing R&D on proprietary medicines.
- Net loss narrowed to $3.14 million from $11.46 million in prior year
- Revenue declined 37% to $1.39 million, primarily from clinical services
- Acquisition of Mind Body Consulting (Pax Centre) enhances clinical offerings
- Medibank funds MDMA-assisted therapy, first insurer-backed psychedelic treatment in Australia
- Raised $5.85 million equity to support clinical expansion and R&D
Financial Performance and Operational Highlights
Emyria Limited has reported a significant improvement in its financial results for the year ended 30 June 2025, posting a net loss of $3.14 million compared to a much larger loss of $11.46 million in the previous year. Despite a 37% decline in revenue to $1.39 million, primarily from clinical services, the company has made strategic moves to strengthen its position in the emerging field of psychedelic-assisted mental health treatments.
The company’s focus on delivering innovative therapies for mental health and neurological conditions is underpinned by its wholly owned clinical subsidiaries and a unique real-world data platform. The acquisition of Mind Body Consulting Pty Ltd, trading as the Pax Centre, has expanded Emyria’s clinical footprint, particularly in psychological trauma care.
Psychedelic Therapy Expansion and Partnerships
A key milestone for Emyria was the Therapeutic Goods Administration’s rescheduling of MDMA and psilocybin in July 2023, enabling regulated prescribing of these substances. Leveraging this regulatory shift, Emyria launched therapy programs targeting post-traumatic stress disorder (PTSD) and treatment-resistant depression.
Notably, Emyria secured a funding agreement with Medibank, making it the first provider in Australia to offer insurer-backed psychedelic-assisted therapy. This partnership not only validates Emyria’s intensive care model but also broadens patient access to these novel treatments. Further strategic collaboration with Avive Health aims to extend the Empax Centre model into Queensland and other states, signaling a national expansion strategy.
Research and Development Pipeline
While clinical services have taken precedence, Emyria continues to invest in its proprietary drug development programs, including MDMA analogues and Ultra-Pure CBD capsules. The company secured a $499,000 grant with the University of Western Australia to support preclinical development and signed a licensing agreement for serotonin-based therapies, reinforcing its commitment to next-generation treatments.
Clinical trial data have been encouraging, with early results showing rapid symptom improvement and sustained gains at six months post-treatment. The company also formalized a research collaboration with the Australian National University to advance psychedelic therapy research.
Capital and Governance
Emyria raised $5.85 million in equity during the year to fund clinical infrastructure and R&D efforts. The company ended the year with a solid cash position of $3.57 million and improved net tangible assets per share to 0.56 cents from 0.08 cents.
Leadership changes included Gregory Hutchinson’s transition to Executive Chairman and Michael Winlo’s move to Executive Director, reflecting a strategic realignment to support growth and innovation.
Risks and Outlook
The company acknowledges ongoing risks including the need for continued capital to fund operations, uncertainties inherent in clinical trials, regulatory hurdles, and competitive pressures in the biotechnology sector. The auditors issued an unmodified opinion but highlighted material uncertainty regarding Emyria’s ability to continue as a going concern, emphasizing the importance of successful execution of its growth strategy and funding plans.
Looking ahead, Emyria plans to scale its Empax Centre model nationally, enhance clinical efficiencies, and continue advancing its drug development pipeline. The company’s integration of clinical services with real-world data collection positions it as a leader in data-driven mental health care innovation.
Bottom Line?
Emyria’s improved financial footing and insurer-backed psychedelic therapy expansion set the stage for a pivotal year ahead, though funding and regulatory risks remain.
Questions in the middle?
- How will Emyria sustain funding to support ongoing clinical trials and expansion?
- What impact will insurer funding have on patient uptake and market acceptance of psychedelic therapies?
- When can investors expect pivotal clinical trial results or regulatory milestones for proprietary drug candidates?