The business side of the industry, how well is it doing? is it profitable? What does the future hold?
Tryp Therapeutics (TRYP) began enrolling patients for a Phase 2 trial on psilocybin for binge eating. The company is using non-proprietary synthetic psilocybin to generate data quickly while developing a proprietary formulation.
Mind Cure Health (MCUR) and Core One Labs (COOL) appear to be running out of money as they look for strategic takeover opportunities.
MYND Life Sciences (MYND) entered into an agreement to acquire all the issued and outstanding shares of Tidal Psychedelics, a company with access to a $10M facility for cannabis and mushroom cultivation.
Awakn Life Sciences (AWKN) received approval to begin ketamine treatments for mental health and addiction at its third clinic, located in London. The company also has ketamine clinics in Bristol, UK and Oslo, Norway.
Doseology (MOOD), a BC-based company that sells functional mushrooms in the US and Canada, began trading on the Frankfurt Stock Exchange under the symbol “‘VU7”. The company has applied for a license to study psilocybin and plans to establish a psychedelic therapy clinic in Oregon this year.
Novamind (NM) announced that it will host MindMed’s (MMED) Phase IIb study on LSD for generalized anxiety disorder later this year. The trial will assess 200 patients for 12 weeks following a single dose of MindMed’ LSD formualtion.
Albert Labs closed a $4.7M private investment and began trading on the Canadian Securities Exchange under the ticker symbol âABRTâ. The company is focused on bringing psychedelic therapy to European markets to treat cancer-related anxiety and depression.
MindBio Therapeutics invested NZ$2.3M to fast-track its research on microdosing LSD for depression and  end-of-life distress in late-stage cancer patients.
Numinus (NUMI)Â received Health Canada approval to research the plants that are used to make ayahuasca and a mescaline-containing cactus called San Pedro.
Braxia Scientific (BRAX) reported quarterly financial results including $324K in revenue (up 13.3% year-over-year), $7.64M in cash, and a $2.52M net loss.Â
