Makes you wonder why they have to go through the motions, as it...

Makes you wonder why they have to go through the motions, as it were, of a clinical trial "to show the product is safe for human use" - when the active ingredient has long ago received FDA endorsement as being safe for human use.
Unless of course, the "product" referred to is the actual tablet, at its particular level of potency and including any buffers/binders etc. But FFS, this stuff has been on the market for YEARS and you can already buy it over the counter at about any "health food" (supplement) store.
If there is a Phase 1 plan - presumably Phase 2 will attempt to replicate on a larger scale research (that has already been carried out elsewhere) showing it has demonstrated effect. OTOH, they could, if they so choose, market the bloody thing right now and popularise its use. That at least would give them a foothold in the market and a revenue stream for human-use sales.

By way of comparison I give you the Pitch Drop experiment: