Psychedelic highlights | July 26 – 30

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Psychedelic highlights | July 26 – 30

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

Psyched WellnessPSYC$0.205+ 5.1 %
Field TripFTRP$7.74+ 4.5 %
NuminusNUMI$0.97+ 2.1 %
Cybin Inc. CYBN$3.84+ 1.8 %
Red Light HollandsTRIP$0.28+ 1.8 %
Psykey inc.CEOS$0.0850 %
CompassCMPS$35.48– 3.6 %
MindMedMMED$3.77– 2.3 %
CompassCMPS$35.48– 3.6 %
Mind CureMCUR$0.415– 5.6 %
Revive TherapeuticsRVV$0.49– 10 %
M2Bio SciencesWUHN$0.451– 14.9 %

Story of the week

1. MindMed Announces Initiation of Phase 1 Clinical Trial of Intravenous DMT [news release]

MindMed Inc. announce the start of a Phase 1 clinical trial to assess the safety, pharmacokinetics and pharmacodynamics of DMT, a naturally occurring psychedelic substance and an active ingredient in ayahuasca.

Read the full news HERE

2. Numinus Wellness Closes Q3 2021 With $63.2 Million Cash Position, Lab and Trial Advances, and Strategic Expansion into Psychedelic Neurology [news release]

Numinus announced its fiscal third quarter results ended May 31, 2021.

In the third quarter, Numinus maintained a healthy cash position, achieved key milestones in its lab and proprietary portfolio, expanded the clinic network, and continued to advance its basic and clinical research.

Read the full news HERE

3. atai Life Sciences launches InnarisBio, in partnership with the University of Queensland, with the aim to develop a more effective nose-to-brain delivery method for atai’s platform of mental health therapeutic programs [news release]

atai Life announced the launch of InnarisBio Inc. (InnarisBio), to develop a novel sol-gel intranasal drug delivery technology to improve treatments for mental health disorders.

Read the full news HERE

4. Field Trip Health Ltd. to Commence Trading on the NASDAQ on July 29, 2021 Under the Symbol FTRP [news release]

Field Trip  announced today that it has received final approval from The NASDAQ Stock Market LLC (“NASDAQ”) to list its common shares on the NASDAQ Global Select Market. The Company’s shares will begin trading at market open on Thursday, July 29, 2021 with the ticker symbol FTRP.

Read the full news HERE

5. Cybin Receives Final Approval to Commence Trading on the NYSE American on or About August 5 [news release]

Cybin announced that it has received approval for the listing of its common shares on the NYSE American LLC stock exchange (“NYSE American”). The Company expects its common shares will open for trading on the NYSE American on or about August 5, 2021, under the symbol “CYBN”.

Read the full news HERE

6. Core One Labs’ Akome Seeks to Revolutionize Treatment of Parkinson’s Disease and Submits Application to Protect IP [news release]

Core One Labs announce that its wholly owned subsidiary Akome Biotech Ltd. (“Akome”) has commenced the development of another breakthrough psychedelic drug formulation, and confirms the filing of another provisional patent application.

Read the full news HERE

7. Nova Mentis Files U.S. Patent Application for Psilocybin-Based Therapeutics [news release]

Nova Mentis Life Science Corp. announced it has filed a U.S. provisional patent application for a proprietary manufacturing process for the production of psilocybin and tryptamine analogues, baeocystin and aeruginascin.

Read the full news HERE

8. Psyched Wellness Enters into a Service Agreement with CannaLabs to Begin Stability Tests on AME-1 [news release]

Psyched Wellness announce the Company has entered into a service agreement with CannaLabs, a Canadian, London-based laboratory services company, licensed by Health Canada.

Read the full news HERE

9. MINDCURE Launches Second Stage of Manufacturing Synthetic Ibogaine for Use in Psychedelic Clinical Research [news release]

Mind Cure  announce it has launched the second stage of manufacturing pharmaceutical grade ibogaine to be used in clinical research. 

Read the full news HERE

10. Tryp Therapeutics Announces Q3 2021 Financial Results [news release]

Tryp Therapeutics announced today its interim financial results for the three and nine month period ended May 31, 2021.

Read the full news HERE

11. Braxia Scientific CEO, Chief Medical Officer Awarded $918,000 by Canadian Government and Provides Corporate Update and Reports Fiscal Fourth Quarter and Full-Year 2021 Financial Results [news release]

Braxia Scientific ongratulates Chief Executive Officer Dr. Roger McIntyre and Chief Medical and Scientific Officer Dr. Josh Rosenblat for receiving $918,000 in funding from the Canadian Institutes of Health Research (CIHR).

And more, Braxia Scientific announced the filing of its fiscal fourth-quarter and year-end results for the three- and 12-month periods ending March 31, 2021.

Read the full article HERE

12. Red Light Holland Signs Definitive Agreement with Mera Life Sciences and Files Annual Financial Statements [news release]

Red Light Holland’s  announce that its financial results for the year ended March 31, 2021 (“FY21”) have been filed on SEDAR. Separately, the Company has entered into a definitive agreement as part of completing its previously announced acquisition of Mera Life Sciences (“Mera”).

Read the full news HERE

13. Entheon Biomedical Further Strengthens Advisory Board with Appointment of Dr. Andy Greenshaw and Acquires Lobo Genetics Inc. [news release]

Entheon announce the addition of Dr. Andrew (Andy) Greenshaw, Professor of Psychiatry and Neuroscience and Associate Chair (Research) for Psychiatry at the University of Alberta.

And more, Entheon announce that the Company completed its acquisition of Lobo Genetics Inc. (“Lobo“), a personalized genetics company with a direct-to-consumer platform

Read the full news HERE

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