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Mydecine’s psychedelic compound shows “blockbuster potential”, according to Roth Capital Partners

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.

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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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Here to Serve Holding Corp. acquires stake in South Korean psilocybin company

Here to Serve Holding Corp. Acquires 15% Ownership in Kaiyon Biotech Inc., a Psilocybin Biotech Company

Here to Serve Holding Corp. (HTSC), a holding company that searches for undervalued assets, acquired a 15% non-dilutive stake in Kaiyon Biotech Inc. through its subsidiary, ICF Industries. Kaiyon Biotech Inc. is a South Korea based company that received approval from the Korean Food and Drug Administration (KFDA) to study the positive effects of psilocybin. President of ICF Industries says the doctors at Kaiyon are “early recipients” of the KFDA approval and believes that they are “amongst the best in the world”.

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Field Trip Health Ltd. declares that it is a “world class company” by applying to list on the NASDAQ

Field Trip Health Ltd. Applies to List Its Common Shares on the NASDAQ Stock Market

After a successful listing on the TSX, Field Trip Health Ltd. applied to list on the NASDAQ Stock Exchange, which would allow US investors to support their growth. Field Trip executives state that this move declares to the public that they are a world class company, and that they are “positioned to be the global leader in the psychedelics industry”. Field Trip expects to commence with Phase 1 human trials of their proprietary psychedelic molecule by the end of 2021, and will have 20 health centers operating or under construction across the US, Canada, and Europe.

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Shark Tank’s Kevin O’Leary says investing in psychedelics has far more potential than cannabis

7 Investment Tips from Kevin O’Leary, Who Says There’s More Money In Psychedelics Than There Is In Cannabis

At a CNBC healthcare summit, Shark Tank venture capitalist Kevin O’Leary said that “the potential of psychedelics far exceeds the potential of cannabis”. O’Leary believes that the size and scale of the psychedelics market is appealing because of the lack of advancements in mental health treatment over the past several decades. O’Leary currently invests in MindMed and Compass Pathways, and advises investors to hold stakes in companies with multiple clinical trials.

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CEO and president of first psychedelic ETF, PSYK, says web traffic is up almost 50% as the new sector gains hype from investors

Investing in magic mushrooms: First psychedelic ETF debuts in Toronto

Horizons ETFs Management debuted PSYK in January 2020, an index of 17 Canadian and US life sciences companies focused on therapeutic applications of psychedelic drugs. President and CEO, Steve Hawkins, says “we haven’t seen this kind of hype for a new sector of the equity marketplace since cannabis in 2017” and predicts that the market is going to grow very rapidly. Hawkins says web traffic is up almost 50% and that the ETF is seeing very good traction from a press and media perspective.

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