Psychedelic highlights | December 14 – 18

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Psychedelic highlights | December 14 – 18

Here is a summary of the news from the last week in the psychedelics market. The value of the psychedelics market is more than $100 billion according to Cannacord most recent report.

Psychedelic market value by company

Last week performance

Red Light HollandsTRIP$0.365+ 46 %
Revive TherapeuticsRVV$0.69+ 32 %
NuminusNUMI$1.81+ 23 %
Psyched WellnessPSYC$0.35+ 20.7 %
MindMedMMED$4.58+ 0.22 %
CompassCMPS$56.99– 1.5 %
Field TripFTRP$5.32– 5 %
Mind CureMCUR$0.83– 7.78%
M2Bio SciencesWUHN$0.40– 23 %
Trip TherapeuticsTRYP$0.71———

Story of the week

1. M2Bio Sciences has started to update its information on the OTC website to have the current status and announces expansion into UK Market with Medspresso [featured]

M2Bio Sciences, Inc. is set to expand into the European market with its recently launched Medspresso™ line of CBD infused hot beverages. The recent launch in early November has drummed up numerous inquiries from around the globe.

The company is planning to ship its first international order to Cafféluxe Limited International in January 2021. The company is scaling up its production to meet the growing demand. 

Michael Sachar, Cafféluxe Commercial Director said:

“The interest has been nothing short of phenomenal. We will move the Medspresso™ range through existing distributors in the UK, Europe and GCC countries (Middle East). “

UNDERVALUED : M2Bio Sciences only worth 17 million VS Compass 2.08 Billion VS MindMed 1.17 Billion

Read the full news HERE

2. A very promising new study for Bucillamine for the treatment of COVID-19. [report]

Revive Therapeutics is about to have the first results of its largest study, the FDA Phase 3 Clinical Trial for Bucillamine in COVID-19. The company estimated that over 200 patients will have completed the Study for the interim analysis by the end of December 2020.

On December 08, 2020, a study was published titled: 

Binding of SARS-CoV-2 spike protein to ACE2 is disabled by thiol-based drugs; evidence from in vitro SARS-CoV-2 infection studies.

In this study, Bucillamine is among the 3 most effective and is therefore very promising for the result of the study to come in the coming weeks.

Read the full article HERE

3. Numinus Wellness Announces National Expansion with Acquisition of Montreal-Based Mindspace Wellbeing and Completes First Extraction of its Psilocybe Mushrooms [news release]

Numinus is pleased to announce the acquisition of Montreal-based Mindspace Psychology Services Inc (DBA Mindspace Wellbeing), a leader and pioneer in psychedelic programming. 

Furthermore, Numinus has completed the first legal extraction of Psilocybe mushrooms in Canada by a public company for research and development purposes. This follows Numinus’ successful completion of the cultivation and harvest of the first legal flush of Psilocybe mushrooms at Numinus Bioscience, the Company’s 7,000 square foot analytics and research laboratory.

Read the full news HERE

4. MindMed Announces Successful Completion of Pre-IND Meeting with the FDA for Project Lucy and $50 Million Bought Deal Public Offering [news release]

MindMed announced the successful completion of a pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA) regarding the development of lysergic acid diethylamide (LSD) assisted therapy for an anxiety disorder.

Furthermore, MindMed announced a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 11,364,000 units of the Company (the “Units”) at a price of C$4.40 per Unit (the “Issue Price”) for aggregate gross proceeds to the Company of C$50,001,600 (the “Offering”).

Read the full news HERE

5. Psyched Wellness Successfully Completes Extraction of a Legal Psychedelic Mushroom [news release]

Psyched Wellness is pleased announce that it has successfully completed its first extraction of a legal psychedelic derived from Amanita Muscaria mushrooms. 

The scientific team sourced dried Amanita Muscaria Mushroom caps from five separate suppliers from different geographic regions around the world. 

Read the full news HERE

6. Red Light Holland and Disruptive Pharma Announce Intention to Form Joint Venture in Brazil and Commences Growing 1,000,000 Grams of Magic Truffles [news release]

Red Light Holland  are pleased to announce they have entered into a non-binding letter of intent for the purposes of creating a joint venture to cultivate, manufacturer, and commercialize magic truffles for the Brazilian market and to explore other potential business opportunities, subject to compliance with all applicable laws and regulations of Brazil, home to more than 200 million people.

Furthermore, Red Light Holland announce that is has commenced growing its second crop of approximately 1,000,000 (1 Million) grams of magic truffles consisting of three different strains, including Psilocybe Mexicana, Psilocybe Galindoi, and Psilocybe Tampanensis.

Read the full news HERE

7. Tryp Therapeutics Begins Trading on the Canadian Securities Exchange [news release]

Tryp Therapeutics Inc. is pleased to announce that the Company’s common shares have commenced trading on the Canadian Securities Exchange (“CSE“) under the symbol “TRYP” effective December 18, 2020.

James Kuo, MD, CEO states, “Trading on the CSE is a significant milestone in Tryp’s mission to transform the treatment of neuropsychiatric diseases with safe and effective psychedelic medicines. 

Read the full news HERE

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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.

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