3 Psychedelic Sector Leaders That Investors Need To Be Aware OfPsyched Wellness Announces New OTCQB Ticker: PSYCF2 Psychedelic Bellwethers That Are Gearing Up To Go Public In 2021Awakn Life Sciences Appoints CRO to Conduct Phase II Study of MDMA as a Treatment for Alcohol Use DisorderMindMed Adds Chief Development Officer with FDA Phase 2 Psilocybin Clinical Trial ExperiencePure Extracts (CSE:PULL) – A Leading Canadian Mushroom Extraction PlatformPsyched Wellness’ Mycological Research Continues To Take Serious Strides ForwardMindMed Expands Psychedelic Microdosing Division, Adds Groundbreaking Study Evaluating LSD Microdosing Through Next-Gen Cybin Partners with Kernel to Leverage its Breakthrough Neuroimaging Technology for Psychedelic TherapeuticsPure Extracts Continues To Build Out Its Comprehensive Mushroom Extraction PlatformMYND Life Sciences Inc. Closes $2.4 Million Private Placement and Provides Update on Planned ListingTryp Therapeutics Appoints Dr. William K. Schmidt to Its Scientific Advisory BoardCYBIN Provides Update on Patent Filings & Development of Therapeutics ProgramNuminus Signs Lab Services Agreement with Optimi Health to Advance Research and Development of Psychedelic ProductsPsyched Wellness Commences Antioxidant and Anti-Inflammatory Study on MuscimolMindset Generates Promising In Vitro Results from Third Patent Family of Novel Psychedelic Compounds Suggesting Range of3 Drug Development Companies Leveraging Psychedelic Compounds In Clinical TrialsEntheon Biomedical Announces Investment and Business Arrangement with Heading Health LLCPsyched Wellness Has Commenced Research on Muscimol for Various AilmentsAion Therapeutic Announces Closing of Non-Brokered Private Placement

MindMed’s Drug Delivery Business Is One That Psychedelic Sector Investors Need To Be Watching

Nov 19, 2020 • 2:09 PM EST
2 MIN READ  •  By Michael Berger
Share Share - Facebook Share - Twitter

November has been a great month for the psychedelic therapy industry and was highlighted by Oregon passing legislation to decriminalize psychedelics.

Although many people view the industry as not legitimate, the psychedelic therapy sector is comprised of real businesses that are funded and are working on developing treatments for debilitating mental illnesses.

Several psychedelic therapy companies are in advanced stages of the US Food and Drug Administration clinical trial process. We believe that positive clinical trial data will play a substantial role in the advancement of the industry.

In 2012, we learned about GW Pharmaceuticals plc (GWPH) and how it was focused on developing FDA approved cannabis-based medicines. Back then, GW was trading for less than $20 per share and we identified it as a leading way to be levered to the cannabis industry.

We believe that there are a lot of similarities between the early days of the cannabis industry and the psychedelic therapy sector and have been working to identify companies that are capitalizing on this opportunity.

Mind Medicine (MindMed) Inc. (MMEN: NEO) (MMEDF: OTC) is considered to be an early mover on the psychedelic therapy market and is an opportunity that we have been closely following. The clinical-stage biotechnology company is focused on advancing its drug development pipeline and believe that this provides it with several significant potential growth catalysts.

Over the next year, we expect MindMed to report important clinical trial data and will monitor how the story continues to evolve. Currently, the company’s drug development pipeline includes:

  1. 18-MC addiction: Currently in a Phase 1b trial which is expected to be completed before year end. The company expects to conduct a Phase 2 trial in early 2021
  2. LSD (experiential): Currently in a Phase 2a trial for both anxiety and cluster headaches. The first readout for the anxiety trial is expected in the first quarter of 2021. The cluster headaches trial is expected it to be complete in 2023.
  3. LSD (microdose): Has been advancing through the necessary regulatory filings to start a Phase 2a trial for adult ADHD in the Netherlands and Switzerland. The company expects Phase 2 trials to be complete by the end of 2022
  4. LSD and MDMA: Expects a randomized placebo-controlled Phase 1 trial is planned to start before year end
  5. DMT: Expects a Phase 1 trial that will test various IV dosing regimens to begin before year end

We are bullish on MindMed’s drug development program due to the size of the total addressable market (TAM) for its treatments and will monitor how the story continues to advance. The company has benefited from being able to tap the capital markets to raise additional capital to fund growth and will continue to closely follow the opportunity.

If you are interested in learning more about MindMed’s drug development program, please send an email to support@mushroomstocks.com with the subject “MindMed” to be added to our distribution list.

Share Share - Facebook Share - Twitter


Authored By

Michael Berger


Get the Latest Cannabis News & Stock Picks.

Enter your email below to join the official Mushroomstocks newsletter.

 All good -- no spamming here.

The psychedelics sector is starting to take off as smart money begins to position itself across the industry.

Stay updated with all latest updates,upcoming events & much more.