Key Highlights

  • Emyria shares were up 7.32% at $0.044 during the 22 October 2026 trading session.
  • FY26 Revenue from services was $4,053,475 against $1,394,747, with a loss after tax of $6,114,401.
  • Cash stood at $7,290,015 at 30 June 2026, with the Empax clinic network spanning four states.

Emyria Limited (ASX:EMD) shares were up 7.32% at $0.044 during the Trading session on 22 October 2026, at 11:55 am. At the same time the S&P/ASX 200 stood at 8,774.90, down 0.64% (56.40 points), while the All Ordinaries stood at 8,897.80, down 0.66%. Emyria develops and delivers treatments for mental health and select neurological conditions, with a current focus on Post-Traumatic Stress Disorder (PTSD) and Treatment-Resistant Depression (TRD), and runs the Empax clinic network across several Australian states.

About the Company

Emyria Limited is listed on the Australian Securities Exchange under the code EMD and its shares are also admitted to trade on the Frankfurt Open Market under the code Q84. The registered office is in Subiaco, Western Australia.

The group describes its principal activity as delivering and developing new treatments for mental health and selected neurological conditions, including psychedelic-assisted therapy.

Business Overview

Emyria describes five connected parts to its model: Healthcare, Data, Training, Delivery IP and Pipeline. The healthcare arm delivers PTSD and TRD programs under the Therapeutic Goods Administration's Authorised Prescriber framework. The Training arm has prepared more than 120 therapists.

In April 2026 the company formalised the Empax Global Partnership Program, a services platform that gives international drug sponsors access to its clinical delivery infrastructure for trials. It provides clinical trial site services to Psyence Biomed for a Phase IIb trial. The pipeline holds a cannabidiol formulation and an MDMA analogue program, both supported by the US National Institutes of Health.

FY26 Financial Results and Balance Sheet

In its 2026 annual report, with the directors' report dated 31 August 2026, Emyria reported revenue from the provision of services of $4,053,475 for the year ended 30 June 2026, compared with $1,394,747 a year earlier. Total revenue including the Research and Development incentive and other income was $4,340,654, against $2,994,602.

Gross profit was $919,334. The loss after income tax was $6,114,401 compared with $3,142,758 as the group scaled its national infrastructure and clinical workforce. Cash and cash equivalents were $7,290,015 at 30 June 2026, up from $3,570,045, following an $8.0 million institutional Placement completed in November 2025.

Clinic Network, Funding and Clinical Data

The Annual Report states that five clinics are operating or secured across Western Australia, Queensland, Victoria and New South Wales. Perth, the most mature site, was reported as profitable on a stand-alone basis, and Emyria's projected timeline to break-even for a new stand-alone clinic is 9 to 12 months. Once the Sydney clinic is activated, the network is expected to have 18 operational beds, supporting 90 dosing days a week at approximately $10,000 of revenue each.

On outcomes, twelve-month follow-up data as at 31 December 2025 showed durable remission in about 67% of PTSD patients and clinically significant benefit in about 76%. In a first TRD cohort of 10 patients, average depression scores fell from 16.8 to 10.0. The company noted the figures reflect small real-world cohorts that have not been peer reviewed. Funding now includes Medibank across three states and the Department of Veterans' Affairs.

Related Sector Context

Psychedelic-assisted therapy sits within the broader mental health segment, where research programs and regulatory reviews are developing internationally. Emyria's report refers to US Food and Drug Administration priority vouchers granted in April 2026 to three developers.

With the S&P/ASX 200 down 0.64% and the All Ordinaries down 0.66% at 11:55 am, Emyria's 7.32% gain during the session stood against a softer broader market.

Risks to Weigh In

The annual report identifies access to Capital as a Business risk, noting that clinical services Earnings may not cover the full scope of expenses and that the company expects to depend on external Equity or debt financing. Limits on funding could delay the path to profitability.

Other uncertainties follow from the business itself. Treatments depend on authorised prescribers, trained therapists and insurer or government funding decisions, and outcome data come from small cohorts that have not been peer reviewed. The Avive Health arrangement is subject to satisfactory commercial terms and approvals.

Catalysts on Watch

The report points to several milestones. These include activation of the New South Wales clinic at Matilda Nepean Private Hospital, rising utilisation at existing sites and negotiations on further Avive Health locations. Emyria also plans to keep expanding the Empax Global Partnership Program.

The company will also continue progressing its MDMA analogue and cannabidiol programs through targeted non-dilutive funding. Later reporting will show how revenue and cash develop over FY27.

Putting It Together

Emyria shares were trading higher at $0.044 during the 22 October 2026 session while the benchmark indexes were lower. The latest annual report shows revenue from services of $4.05 million, a loss of $6.11 million and cash of $7.29 million at 30 June 2026. Funding access, clinic utilisation and capital needs remain the main variables in the reported outlook.