TheraCryf has released Final Results for its 12 months to 31 March 2025. These confirm the enlarged Group continues to deliver on operational/financial expectations as it enters a particularly active phase of works that could see considerable value being added to the business as it brings forward new treatment options in areas of real unmet medical needs. Significantly, the £4.25m (gross) equity raise completed in February 2025 has extended the Group’s cash runway out to Q4 2026, by which time it is realistic to expect at least two key milestones/inflection points to have been reached. With the Group’s refocussed strategy prioritising research on brain disorders and accelerating advancement of Ox-1, its acquired blocker (antagonist) of the brain orexin-1 receptor, the molecule’s regulatory submission (IND/CTA) plus outcome from regulatory interactions (MHRA/FDA etc.) anticipated during H1 2026, should be followed by readiness to submit an application for a Phase 1 study in H2 2026. The Group’s grant-funded investigator collaboration with the Rotterdam-based Erasmus Medical Centre (‘Erasmus’) allows it to maintain optionality on its legacy SFX-01 asset, with pre-clinical preparations (including in vivo work now underway), in anticipation of this asset entering a Phase 0 study in patients with glioblastoma (‘GBM’) early in 2026, with first clinical read-out likely before the end of next year. Against a background of renewed industry interest in neuroscience drug discovery, including Johnson & Johnson’s (NYSE: JNJ) April 2025 US$14.6 billion acquisition of neuropsychiatric/neurologic disorder specialist, Intra-Cellular Therapies Inc., TheraCryf’s ability to deliver compelling data across multiple indications not only derisks its investment opportunity, but also places it firmly on the radar of larger players seeking development opportunities/partners within this expanding global sector.