Psychedelic highlights | December 21 – 24

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Psychedelic highlights | December 21 – 24

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

COMPANYTICKERDEC 18WEEK %
Trip TherapeuticsTRYP$0.74+ 4.2 %
Revive TherapeuticsRVV$0.69+ 00 %
CompassCMPS$55.03– 3.5 %
M2Bio SciencesWUHN$0.38– 5 %
MindMedMMED$3.8514 %
Mind CureMCUR$0.70– 15.6 %
Field TripFTRP$4.34– 18.4 %
Psyched WellnessPSYC$0.28– 20 %
Red Light HollandsTRIP$0.29– 20.5 %
NuminusNUMI$1.25– 31 %

Story of the week

1. M2Bio Sciences, Inc Updates on Second Scientific Paper Published on Psychedelics [news release]

M2Bio Sciences, Inc. has successfully published a second paper on psychedelic science. This paper is entitled 

Effects and safety of Psilocybe cubensis and Panaeolus cyanescens magic mushroom extracts on endothelin-1-induced hypertrophy and cell injury in cardiomyocytes” 

and has been released on the Nature Research platform. (the first published paper can be found here)

“This is another great milestone for the company as the findings are very significant to psychedelic research. The research team led by Sanah M. Nkadimeng is making a lot of notable progress in bringing psychedelics to the forefront of medicine. Stay tuned, so much more exciting and useful science to share very soon,” 

-said Wuhan General Group CEO Jeff Robinson.

UNDERVALUED :

M2Bio Sciences only worth 13 million VS Compass 2 Billion VS MindMed 1.25 Billion

Read the full news HERE


2. Revive Therapeutics Announces LOI to Acquire PharmaTher’s Psilocybin Program and Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19 with Plans on Emergency Use Access [news release]

Revive Therapeutics is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”), dated December 20, 2020, to acquire the full rights to PharmaTher Inc.’s (“PharmaTher”) intellectual property (the “Acquired Assets”) pertaining to psilocybin (the “Acquisition”).

Furthermore, the Company is on pace to meet its enrollment goals for the Independent Data and Safety Monitoring Board (“DSMB”) to review the safety and efficacy data from the 210 patients as part of the first interim analysis of patients treated and followed up for 28 days after randomization.

Further to the DSMB review and recommendations on the interim analysis periods, the Company aims to file for an Emergency Use Authorization (“EUA”) of Bucillamine for mild to moderate COVID-19 with the FDA. 

Read the full article HERE


3. Psyched Wellness Commences Pre-Clinical Trials of Amanita Muscaria [news release]

Psyched Wellness is pleased to share that it has shipped its first batch of Amanita Muscaria extract to its CRO partner to commence the Pre-Clinical trials.  

Jeff Stevens, CEO of the Company says,

“This is a major milestone for Psyched Wellness! We have now officially commenced our Pre-Clinical Trials to determine the safety, efficacy, and safe dosage levels for Amanita Muscaria. This is a key step, as it is the foundation off which we can apply to the FDA for a New Dietary Ingredient (NDI) and Health Canada for a Natural Health Product Number (NHPN) for our Amanita Muscaria supplement. It will also provide the IP required to focus our team’s attention on studying other more clinical uses of Amanita Muscaria for mental and physical health issues.”

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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