Psilocybin will be bigger than cannabis, says a cannabis exec

Cannabis Firm Plans South Africa IPO, Magic Mushroom Expansion

South Africa’s first cannabis company is shifting to psilocybin, which shouldn’t be a surprise given its name – Cilo Cybin Pharmaceutical Ltd.

The company recently applied for a research permit to study psilocybin for depression, anxiety, and PTSD. “I really think it is going to be a lot bigger than cannabis even,” said the CEO.

He plans to take the company public on the Johannesburg and Luxembourg Stock Exchanges within the next 12 months.

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Atai Life Sciences (ATAI) lists on NASDAQ, becomes third psilocybin company to list on major US stock exchange

atai Life Sciences Announces Pricing of Upsized Initial Public Offering

Atai Life Sciences (ATAI), a German biopharmaceutical company studying psilocybin treatment, began trading on the NASDAQ at $15 per share. Gross proceeds are expected to be $225 million. ATAI is the third psilocybin-focused company to go public on a major US stock exchange, following MindMed and Compass Pathways.

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