Roth says Mydecine Innovations has blockbuster potential with its MYCO-001 psychedelic therapy as it initiates coverage
Roth Capital Partners, a private investment bank in California, gave Mydecine Innovations Group Inc. (MYCO) a ‘buy’ rating with a C$3 target based on the “blockbuster potential” of its pyschedelic compound, MYCO-001. Mydecine expects to complete advanced clinical trials for PTSD and smoking cessation within the next 18-24 months. Based on this timeline, Roth believes that MYCO-001 could be introduced to the US market for smoking cessation in 2026, and could reach $2.5 billion in sales by 2031 by capturing just 0.5% market. Roth predicts that MYCO-001 will take over 20% of the market for PTSD treatment by 2032, reaching $3 billion in sales.