Psyence Biomedical Ltd. Files 20-F Report

Ticker: PBMWW · Form: 20-F · Filed: Jul 29, 2024 · CIK: 1985062

Sentiment: neutral

Topics: 20-F, financials, pharmaceuticals

TL;DR

Psyence Biomedical's 20-F shows $130.7M assets vs $12.5M liabilities as of March 31, 2024.

AI Summary

Psyence Biomedical Ltd. filed its 20-F report for the period ending March 31, 2024. The company, incorporated in A6 and headquartered in Toronto, operates in the Pharmaceutical Preparations sector. Key financial figures include total assets of $130.7 million and total liabilities of $12.5 million for the fiscal year.

Why It Matters

This filing provides investors with a comprehensive overview of Psyence Biomedical's financial health and operational status for the fiscal year, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: medium — The company operates in the pharmaceutical sector, which is inherently subject to regulatory, research, and market risks, and the filing details its financial position which may indicate specific financial risks.

Key Numbers

Key Players & Entities

FAQ

What is the total revenue for Psyence Biomedical Ltd. for the fiscal year ending March 31, 2024?

The filing indicates a revenue of $1.339 million for the fiscal year ending March 31, 2024.

What was the company's net income or loss for the fiscal year ending March 31, 2024?

Psyence Biomedical Ltd. reported a net income of $570,000 for the fiscal year ending March 31, 2024.

What is the company's primary business activity according to the SIC code?

The company's Standard Industrial Classification (SIC) code is 2834, which corresponds to Pharmaceutical Preparations.

When was the business combination agreement with Newcourt Acquisition Corp. mentioned?

The business combination agreement with Newcourt Acquisition Corp. is noted with a date of January 23, 2024.

What are the total assets and liabilities reported as of March 31, 2024?

As of March 31, 2024, Psyence Biomedical Ltd. reported total assets of $130.7 million and total liabilities of $12.5 million.

Filing Stats: 4,385 words · 18 min read · ~15 pages · Grade level 17.9 · Accepted 2024-07-26 17:35:01

Key Financial Figures

Filing Documents

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS 99 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 100 PART II 104 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 104 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 104 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 104 ITEM 16. [RESERVED] 105 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 105 ITEM 16B. CODE OF ETHICS 105 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 105 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 105 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 105 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 105 ITEM 16G. CORPORATE GOVERNANCE 105 ITEM 16H. MINE SAFETY DISCLOSURE 106 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTION THAT PREVENT INSPECTIONS 106 ITEM 16J. INSIDER TRADING POLICIES 106 ITEM 16K. CYBERSECURITY 106 PART III 107 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 107 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 107 ITEM 19. EXHIBITS 107 2 Table of Contents Except as otherwise indicated or required by context, references in this Annual Report on Form 20-F (the "Report") to "we," "us," "our," "Psyence Biomedical" or the "Company" refer to Psyence Biomedical Ltd., a corporation organized under the laws of Ontario, Canada. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report and the documents incorporated by reference herein include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements relate to, among others, our plans, objectives and expectations for our business, operations and financial performance and condition, and can be identified by terminology such as "may," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue" and similar expressions that do not relate solely to historical matters. Forward-looking statements are based on management's belief and assumptions and on information currently available to management. Although we believe that the expectations reflected in forward-looking statements are reasonable, such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Forward-looking statements in this Report and in any document incorporated by reference in this Report may include, but are not limited to, statements about: the ability of Psyence Biomedical to realize the benefits expected from the Business Combination (as defined below) and to maintain the listing of the Common Shares or the Warrants on Nasdaq; risks that the Business Combination disrupts current plans of Psyence Biomedical o

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved.] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Investing in our securities involves a high degree of risk. You should carefully consider the following information about these risks, together with the other information appearing elsewhere in this Report, including our financial statements, the notes thereto and the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations," before deciding to invest in our securities. The occurrence of any of the following risks could have a material adverse effect on our business, reputation, financial condition, results of operations and future growth prospects, as well as our ability to accomplish our strategic objectives. As a result, the trading price of our securities could decline and you could lose all or part of your investment. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business operations and the market price of our securities. Risks Related to Our Business and Industry We are a clinical-stage biotechnology company and have incurred significant losses since our inception. We anticipate that we will incur significant losses for the foreseeable future. Investment in biotechnology product development is highly speculative because it entails substantial upfront capital expenditures and significant risk that any potential product candidate will fail to demonstrate effectiveness or an acceptable safety profile, gain regulatory approval and become commercially viable. All of Psyence's product candidates will require substantial additional capital expenditures and development time, including extensive clinical research and resources, before it would be able to apply for and then receive marketing authorization and begin generating revenue from product sales. Since its inception, Ps

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