This is Psychedellux, the week’s top news in psychedelic stocks.
Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) announced its annual 2020 financial results for the year ended December 31, 2020. At this time the company had no revenue to report. The net and comprehensive losses were $35.1 million for the year ending December 31, 2020. Its total assets as of December 31, 2020, were $85.6 million, including $80.1 million in cash.
psilocybin-based medicine company Wesana Health added George Steinbrenner IV to the Company’s Board of Directors. In addition, the company closed its C$16.1 million oversubscribed private placement ahead of completing its go-public transaction slated to take place this April.
Psirenity, a wholly-owned subsidiary of New Leaf Canada Inc., announced it has signed a two-year partnership with Jamaica’s Scientific Research Council (SRC) to conduct cooperative studies into the beneficial effects of psilocybin mushrooms. This partnership follows Psirenity’s recent approval to conduct the first clinical trial protocol with psilocybin in Jamaica.
Cybin Inc. (OTCQB:CLXPF) announced key senior management changes. Alexander Belser, PhD, will serve as Chief Clinical Officer, and Aaron Bartlone will serve as Chief Operating Officer of Cybin US Holdings Inc. The Company also announced that co-founder and former Chief Operating Officer, Paul Glavine will assume the role of Chief Growth Officer of Cybin Inc.
Those are the big headlines this week.