(Alliance News) - Clarify Pharma PLC on Tuesday released its full year results for the year ended November 30.

The London-based company previously had a focus on being a biotech and life sciences investor seeking to prove the safety and efficacy of psychedelic substances.

During the year, the firms pretax loss narrowed to GBP735,000 from GBP1.0 million the year prior.

Clarify generates no revenue, and finished the year with total assets of GBP900,000, down from GBP1.5 million, of which GBP200,000 was in the form of cash.

As announced on April 15, the company has shifted its focus towards being a provider of Filecoin staking nodes, a decentralised storage network that runs on a blockchain.

A name change to File Forge Technology PLC is planned by the board of directors and the the company has divested from investments including Atai Life Sciences Inc and Compass Pathways PLC.

The company retains a stake in Beckley Psytech Ltd.

Clarify shares were untraded at 0.10 pence each on the Aquis Stock Exchange in London on Tuesday afternoon.

By Elijah Dale, Alliance News reporter

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