Emyria (ASX:EMD) - First Mover in Reimbursed Psychedelic-Assisted Therapy
19 August, 2026 · By Rahul Tiwari · Long-form
Overview
Emyria (EMD) is scaling Empax, a hospital-integrated psychedelic-assisted therapy (PAT) platform for PTSD and treatment-resistant depression, and has built Australia's largest hospital-integrated PAT clinic network. Its Medibank reimbursement agreement and capital-light expansion through partner private hospitals underpin a payer-backed revenue ramp, with FY26 revenue of ~A$4.3m, up ~208% on FY25. EMD gives investors exposure to the growth of psychedelic medicine without relying on any single proprietary drug. GBA Capital initiates research coverage with a call of Buy (High Risk) and a Target Price of A$0.155/share, a ~230% upside to the last traded price of A$0.047.
Report Details
- Category
- Initiation of Coverage
- Published
- 19 August, 2026
- Analyst
- Rahul Tiwari
- Format
- Long-form
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