|Bid||40.23 x 1000|
|Ask||44.90 x 1000|
|Day's Range||42.00 - 45.17|
|52 Week Range||22.51 - 61.69|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||65.00|
Compass Launches Center Of Excellence Compass Pathways (NASDAQ: CMPS) officially launched the Centre of Excellence, in collaboration with The Sheppard Pratt Institute for Advanced Diagnostics and Therapeutics in Baltimore, Maryland.This "clinic model" will study and build the best therapy models for psychedelics treatment and work as a site for clinical trials as well as a laboratory for innovation. It will also explore research around COMP360, Compass' psilocybin drug candidate.Scott Aaronson MD, Director of Clinical Research at Sheppard Pratt, will lead the center."Sheppard Pratt has a long history of excellence in clinical service delivery and commitment to its community of patients," Compass Pathways CEO George Goldsmith said. "Our Centers of Excellence, beginning with this centre led by the distinguished team at Sheppard Pratt, will help to accelerate our combined work so that we can bring evidence-based innovation, on a large scale, to the people who need it the most."Psychedelics Companies Welcome New Team Members MindMed (NEO: MMED) (OTCQB: MMEDF) appointed Robert Barrow as chief development officer. Barrow is a pharmaceutical scientist and executive who has served as director of drug development and discovery at the Usona Institute, a leading psilocybin research non-profit.Barrow was instrumental in launching Phase 2 clinical trials for psilocybin in the treatment of major depressive disorder at Usona and in obtaining Breakthrough Therapy Designation for the program with the FDA.Champignon Brands (CSE: SHRM) has made two new team additions with Stephen R. Brooks as new chief financial officer and Peter Rizakos as the company's new general counsel.Brooks is a finance professional with over 25 years experience, formerly CFO of Sim International, CFO of the Ottawa Senators NHL hockey club and senior vice-president of the Toronto Blue Jays and Rogers Centre.Rizakos adds 30 years of experience as a corporate and securities lawyer, most recently as general counsel for Ontario-based Marret Asset Management Inc.Mydecine Innovations Group (CSE: MYCO) (PINK: MYCOF) has named Gordon Neal to the Board of Directors and welcomed Dean Ditto as Chief Financial Officer.Delic Corp. (CSE: DELC) welcomed talent manager and Hollywood film agent Shep Gordon to its advisory board.Entheon Buys Pre-Testing Genetics Platform Entheon Biomedical Corp. (CSE:ENBI) acquired 100% of biotech company HaluGen Life Sciences Inc. in exchange for 5.1 million Entheon shares.HaluGen is attempting to commercialize a test to help identify genetic traits predictive of a patient's reaction to hallucinogenic drugs. Its platform is expected to help evaluate an individual's sensitivity and risk profile before the initiation of a treatment using psychedelic drugs.The acquisition is expected to improve the company's tools to screen patients for underlying psychiatric disorders prior to undertaking psychedelics assisted psychotherapy (PAP), and gather data linking genetics to outcomes."By adding this layer of personalized medicine and data, we seek to add an additional measure of safety and predictability to PAP, and to aggregate data that can be used to infer appropriateness of specific molecules in PAP," Entheon CEO Timothy Ko says.Atai Purchases Stake In Schizophrenia Treatment Platform Biotech investment platform Atai Life Sciences announced a new addition to its portfolio, as it acquired a majority stake in Recognify Life Sciences, a company developing treatment for cognitive impairment associated with schizophrenia.Recognify's main drug candidate, RL-007, has been found to produce a modulating effect on mechanisms that are pivotal to learning and memory. The compound has been tested in 508 subjects in seven Phase I clinical trials and two Phase II studies."We find the previous studies of RL-007 to be very promising in its modulating effect and look forward to launching our Phase II clinical trial focused on its use as a treatment of CIAS," said Atai co-founder Srinivas Rao.Recognify founder Thomas Sudhof says RL-007 is unique in that it enhances mechanisms of neuronal signaling, learning and memory, apparently without the side effects associated with other compounds acting on these mechanisms.The Milestone Round Mind Cure Health (CSE: MCUR) (OTCQB: MCURF) signed a letter of intent to begin a strategic collaboration with ATMA Journey Centers, a Canadian treatment center that has recently treated a patient under a Health Canada Section 56 exemption to use a controlled substance legally.Mind Cure plans to use ATMA's patient data to feed iSTRYM, its digital therapeutics platform.Cybin (NEO: CYBN) will partner with Kernel for its upcoming clinical work. By using Kernel's neuroimaging system -- a non-invasive head-worn device called Flow -- Cybin can detect changes in the brain through the skull, measuring local neural activity during a psychedelic experience. Cybin-sponsored studies using Flow are expected to commence in the second quarter of 2020.Revive Therapeutics (CSE: RVV) (PINK: RVVTF) has announced a new research collaboration with North Carolina State University. The partnership intends to develop a method of producing biosynthetic psilocybin from a genetically-modified version of the E. coli bacteria.See more from Benzinga * Click here for options trades from Benzinga * Entheon Acquires Pre-Testing Genetics Platform For Psychedelic Treatment * Mexico Publishes Long-Awaited Regulations On Medical Cannabis(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The only companies that have Phase 2 clinical trials now are Compass Pathways, Mind Medicine, Cybin, and Mydecine Innovations.
Psychedelic stocks could have another “far out” year ahead. For one, the U.S. FDA supports its use, calling drugs, like psilocybin a “breakthrough therapy” in the treatment of severe depression. In fact, according to New York University, psilocybin helped produce substantial, and sustained improvements in anxiety and depression. Two, cities such as Oakland and Santa Cruz, California, and states such as Oregon have just begun to decriminalize its use.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Three, Canada has allowed for the use of psilocybin to assist with end-of-life suffering with cancer, for example. 10 of 2020’s Most Fascinating SPAC Stocks Four, it may only be a matter of time before big pharmaceutical companies begin to take interest in incorporating psychedelics. “As patents on many conventional antidepressants begin to expire – and public and regulatory opinion regarding psychedelics is changing – 2021 will be the time that psychedelic therapy casts a spotlight on the limitations of current mental-health care treatments, and highlights a bold alternative,” as reported by Wired U.K. contributor Robin Carhart-Harris. “The Times They Are A-Changin’” for psychedelics. With that in mind, here are five of the top psychedelic stocks to consider. Mind Medicine (OTC:MMEDF) Cybin Inc. (OTC:CLXPF) Field Trip Health (OTC:FTRPF) Compass Pathways (NASDAQ:CMPS) Mydecine Innovations Group (OTC:MYCOF) Psychedelic Stocks to Buy: Mind Medicine (MMEDF) Source: Shutterstock Over the last few months, the MMEDF stock ran from a low of 33 cents to a high of $5.07. Currently consolidating at $3 a share, I’d like to see the stock test its previous high. As the psychedelics story goes mainstream, the company hopes to use psilocybin, LSD, and ecstasy to help treat mental health issues such as anxiety, addition, and ADHD. In addition, the company just completed its pre-IND (investigational new drug) meeting with the US FDA for LSD-assistance therapy for anxiety disorder. According to the company, “preliminary data has been analyzed for MindMed’s addiction treatment program evaluating the ibogaine derivative 18-MC, which the company has named Project Layla. The preliminary data from the Phase 1 Multiple Ascending Dose (MAD) and Single Ascending Dose (SAD) study has shown that the drug is safe and well tolerated at the doses tested to date, and no Serious Adverse Events (SAEs) have been reported.” Cybin Inc. (CYBN) Source: Shutterstock Since going public in November. CYBN stock ran from a low of 50 cents to a high now of $2. And it could see further upside. The company is working with the Canadian Center for Psychedelic Science to study the safety and efficacy of micro-dosing with psilocybin. The company also just closed on its acquisition of Adelia Therapeutics. The deal will give Cybin a proprietary drug delivery platform to administer psychedelic therapies and bypass liver metabolism. 10 of 2020’s Most Fascinating SPAC Stocks In addition, Cybin wants to bring a psilocybin product targeting major depressive disorder (MDD) with Phase 2 trials scheduled to begin in early 2021. Field Trip Health (FTRPF) Source: luckakcul / Shutterstock.com Another top psychedelic stocks to consider is Field Trip Health. Sine bottoming out at $1.87 in Oct., the stock exploded to a high of $5.50. Now at nearly $3, FTRPF is still worth paying attention to. Field Trip is also attempting to treat people with psilocybin and is working on its lead drug candidate FT-104, a synthetic psychedelic molecule. If preliminary studies for FT-104 are confirmed, it could address the limitation of psilocybin and MDMA. Better, it could make it a top choice for clinicians and provide a better option than psilocybin, as noted by Dieter Weinand, Field Trip board member and former chairman and CEO of Bayer Pharmaceuticals AG. Compass Pathways (CMPS) Source: Shutterstock Compass has become one of the most valuable psychedelic stocks with a market cap of $1.57 billion for several reasons. One, its psilocybin-based treatment, COMP360 is in Phase 2 trials for treatment resistant depression. Two, it just joined the Psychiatry Consortium to help identify and validate treatments to address the unmet needs of people living with mental health issues. Three, the company entered into an agreement with the University of the Sciences in Philadelphia to explore and develop psychedelic and other compounds targeting the 5HT2A receptor, a receptor in the brain that could help with mental health issues. In addition, Compass was also granted a U.K. patent, adding to its U.S. patent and German utility model. Mydecine Innovations Group (MYCOF) Source: Shutterstock MYCOF stock is another one flying high. Since bottoming out at 15 cents, it’s now up to 35 cents and could push higher. At the moment, the company is set to import the first legal shipment of psilocybin mushrooms into Canada thanks to its Health Canada dealer’s license. Once the shipment is in, the psilocybin will be extracted and turned into product for controlled therapeutic purposes. The best part: There’s big opportunity for the company because U.S. expenditures on addiction, depression and PTSD total a staggering $300 billion are doing a terrible job in treating these issues. On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned in this article. A contributor to InvestorPlace.com, Ian Cooper has been analyzing stocks and options for web-based advisories since 1999. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post 5 Groovy Psychedelic Stocks to Buy appeared first on InvestorPlace.