2020 has been quite a year, but hidden among the carnage is great
news about advances in research on psychedelic medicine to treat
mental health issues. In January Johns Hopkins announced it had
launched the Center for Psychedelic and Consciousness Research
three months earlier. With $17 million in private funding and a
full panel of planned studies, Johns Hopkins' researchers planned
to focus on how psychedelics impact brain function and mood in both
healthy individuals and those affected by mental health issues.
What John Hopkins did not realize is that it would be sparking the
psychedelic revolution.
Psychedelics, like psilocybin, are garnering interest from
mainstream America. Denver, Oakland, and Santa Cruz have recently
legalized its use. Ann Arbor, Michigan lawmakers voted to
decriminalize psilocybin mushrooms and a ballot in Oregon could
legalize its use by November 2020. This paradigm-shift in the
treatment of mental health disorders could be the single best thing
to come out of 2020. As researchers and the medical community
develop more valuable tools for understanding the brain’s
connection to mind and behavior, millions of people all over the
world will benefit. Numerous studies on psychedelics are already
proving such treatments can treat a host of mental issues, like
obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism,
depression, anxiety, and eating disorders. As clinical trials
supporting psychedelic treatments begin to prove the theories of
researchers, we would expect to see big pharmaceutical companies
investing heavily into psychedelics for their own drug
pipelines.
In our opinion, this opens up significant opportunities for
investors to profit from psychedelic stocks in the coming months. A
few companies to put on your radar screen are COMPASS Pathways
(NASDAQ:CMPS), Mind Medicine Inc. (OTC: MMEDF), Ehave, Inc. (OTC:
EHVVF), and Revive Therapeutics Ltd. (OTC Pink: RVVTF).
COMPASS Pathways (NASDAQ:CMPS) came public on the NASDAQ at
$17.00 a share on September 18th, 2020, making it the first
psychedelic company to be listed on a U.S. exchange. Since then,
CMPS shares have traded as much as 160% above the offering price,
providing investors with a tremendous short-term return. CMPS did
more than provide investors with a huge return; it also alerted a
whole new crop of investors to psychedelic medicine stocks.
Co-founded by George Goldsmith and Ekaterina Malievskaia, COMPASS
Pathways added Lars Christian Wilde and went to work developing
psilocybin (the active compound in magic mushrooms) for use in
patients with treatment-resistant depression. COMPASS Pathways is
currently conducting an FDA phase IIb clinical trial of psilocybin
therapy for treatment resistant depression in 20 sites across
Europe and North America. The Company expects to have results in
2021.
COMPASS Pathways is based in London, UK and the Company is
pioneering the development of a new model of psilocybin therapy, in
which its proprietary formulation of synthetic psilocybin, COMP360,
is administered in conjunction with psychological support. COMP360
has been designated a Breakthrough Therapy by the US Food and Drug
Administration (FDA) for treatment-resistant depression (TRD). H.C.
Wainwright analyst Patrick Trucchio initiated coverage on COMPASS
Pathways October 14, 2020 with a Buy rating and set a price target
of $65.00. Canaccord Genuity also initiated coverage with a Buy
rating on the stock with an $80.00 price
target. www.compasspathways.com
Ehave, Inc., (OTC Pink: EHVVF) is making its mark in the
psychedelic medicine space as a provider of digital therapeutics
delivering evidence-based therapeutic interventions to patients.
Ehave's proprietary Dashboard utilizes BlockChain technology to
provide better communication among health care providers for better
patient outcomes and is compliant with both HIPAA and GDPR
standards. The aggregation of data and information into one
application has proven effective in streamlining the health process
for both patients and providers. With an interest in psychedelic
research, Ehave's Dashboard offers the medical and research
community an opportunity to share information with an emphasis on
security. The Ehave Dashboard has been developed through years of
testing with mental healthcare professionals at one of Canada’s
largest hospitals, Toronto’s Hospital for Sick Children. In
addition to providing better outcomes, the proprietary platform
allows individuals to take control of their physical and mental
health by enabling them to carry their medical records with them
wherever they go.
Ehave also owns a piece of the PsyTech Summit , which brings
together decision makers, investors, clinicians, thought leaders,
and advocates for the purpose of advancing psychedelics science,
business, and reform. As a result of the Covid-19 pandemic, the
PsyTech Summits are being held virtually, but still cater to
thousands of virtual attendees, as well as live guests at select
city hubs across four continents. PsyTech Summit 2020
will be a one-day, international event bringing together decision
makers, investors, clinicians, thought leaders, and advocates for
the purpose of advancing psychedelics science, business, and
reform. Register free at https://www.psytech.biz. Speakers for the
conference include Dr. Julie Holland who is a psychiatrist,
psychopharmacologist, and author of the New York Times bestseller
Moody Bitches and Weekends at Bellevue; David Nutt who is a
psychiatrist and the Edmond J. Safra Professor of
Neuropsychopharmacology in the Division of Brain Science, Dept of
Medicine, Hammersmith Hospital, Imperial College London; Dr.
Beatriz Caiuby Labate (Bia Labate) who is the Executive Director of
the Chacruna Institute for Psychedelic Plant Medicines; Rick
Doblin, Ph.D. who is the founder and executive director of the
Multidisciplinary Association for Psychedelic Studies (MAPS); and
Del Joly former business development for Charlotte’s
Web. www.ehave.com
Mind Medicine (OTCQB: MMEDF) made the last big splash in the
psychedelic medicine pool. The Company raised $24 Million in a pre
IPO round which included Kevin O’Leary and Bruce Linton, a founder
of Canopy Growth Corporation. Since coming public the stock has
more than doubled. Mindmed listed in March on the Canadian NEO
exchange and here in the US on the Other OTC. The shares now trade
on the OTCQB. Since then MindMed has moved beyond ketamine and
psilocybin mushrooms and now looking towards LSD (lysergic acid
diethylamide) as a treatment compound. MindMed has started clinical
trials for LSD to treat anxiety and cluster headaches, as well as
clinical trials for MDMA (3,4 Methylenedioxymethamphetamine) and
DMT (the active ingredient in Ayahuasca). The company is planning
to address the opioid crisis by developing a non-hallucinogenic
version of the psychedelic ibogaine. MindMed applied for an
up-listing on the NASDAQ on September 21, 2002, just days after
Compass Pathways went public.
On October 9, 2020 MindMed announced a $25 million bought deal
public offering. The press release announcing the capital raise was
not supposed to be released in the U. S., but since the OTCQB
symbol is in there, it was hard to miss. A bought deal is a
securities offering usually done in Canada in which an investment
bank assumes the risk of committing to buy the entire offering from
the client company. Canaccord Genuity Corp. acted as the lead
underwriter, and Canaccord Genuity Corp. analyst Tania Gonsalves
said in a recent report that psychedelic medicines and
psychedelic-assisted therapy could become a $100 billion
market. www.mindmed.co
Revive Therapeutics Ltd. (OTC Pink: RVVTF) is an Ontario, Canada
based life sciences company focused on the research and development
of therapeutics for infectious diseases and rare disorders, and it
is prioritizing drug development efforts to take advantage of
several regulatory incentives awarded by the FDA such as Orphan
Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease
designations. Currently, the Company is exploring the use of
Bucillamine for the potential treatment of infectious diseases,
with an initial focus on severe influenza and COVID-19. With its
recent acquisition of Psilocin Pharma Corp., Revive is advancing
the development of Psilocybin-based therapeutics in various
diseases and disorders. Revive's cannabinoid pharmaceutical
portfolio focuses on rare inflammatory diseases and the company was
granted FDA orphan drug status designation for the use of
Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and
to treat ischemia and reperfusion injury from organ
transplantation.
In February, RVVTF announced plans to acquire Psilocin Pharma
Corp. for $2.75 million. Psilocin has developed production
solutions for the active compound Psilocybin. The precisely dosed
formulations work with both natural and synthetically derived
Psilocybin which will be targeted for clinical research and subject
to eventually Food and Drug Administration approval in the
treatment of conditions such as depression, anxiety, bi-polar
disorder, bulimia and anorexia. The company also filed an IND for a
COVID treatment. www.revivethera.com
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