According to Cannacord’s most recent report on the psychedelics market, the value of the market is more than $100 billion. Some companies are approaching billions of dollars (CAD) in valuation. Since spring, dozens of companies went public to take advantage of this huge and still untapped market.
“Psychedelics market value is more than $100B (Cannacord report)”
Huge steps have been taken since in 2017, the FDA granted MAPS Breakthrough Therapy designation (BTD) for MDMA-assisted psychotherapy to treat PTSD.
Since then, a few cities in the United States have decriminalized psilocybin and research is increasing on this drug with immense potential.
In addition, the federal government has just granted the right to 4 Canadians at the end of their life to consume psilocybin to treat the psychological distress they are experiencing. (From Radio-Canada)
The door is opening wide for this drug and some now compare this market with cannabis market when it was in its infancy. The cannabis market has seen several companies like Canopy Growth (more than 2700%) enrich the most alert investors.
“Canopy Growth saw its share increase by 2700%”
Unlike many big players who went public in the last few months with huge stock market values, a smaller player is already ahead of many with a stock market value to make investors dream.
M2Bio Sciences, Inc | WUHN on OTC
“M2Bio Sciences Inc. is one of the only companies in the world to have already carried out an in vitro / in vivo study with psilocybin in animals in 2019”
With a value of just $10M(US) , M2Bio Sciences Inc | WUHN is proving to be a huge deal in the market as they are one of the only companies in the world to have already carried out an in vitro / in vivo study with psilocybin. They are currently in Pre-enrollment Patient- screening for Phase 1 Human trial.
*Valued at 2020-08-21
In addition, following a recent series of agreements and acquisitions, M2Bio Sciences Inc | WUHN is preparing to put on the market a series of products based on CBD and Mushroom.
WUHN trade on the OTC with a float of around 7 million shares
M2Bio Sciences Inc | WUHN has 48 Millions shares on the market, therefore 27 Millions restricted and 14 Millions held in DTC which leaves a float of approximately 7 Millions shares. (According to OTC website)
M2Bio Sciences Inc is currently on the OTC ticker WUHN (soon MMBS) and is planning an entry on the NASDAQ when conditions permit.
For further information:
Sign up for MORE news updates !
This article is written and published by The Cannabis Stock
Disclaimer : The Cannabis Stock wants to promote the cannabis market with the best articles and news on the market. The Cannabis Stock does not recommend selling or buying any of the company mentioned and is not responsible for any losses that may result. The Cannabis Stock are engaged in the business of marketing and advertising companies
The Cannabis Stock and its employees may from time to time own shares of the companies named in the articles. All the facts reported by the cannabis stock are information that comes directly from the companies, from their website or on Sedar and are only published as information.
Disclosure : Wuhan General group inc (M2Bio Sciences Inc) is clients of The Cannabis Stock.