This is Psychedellux, the week’s top business headlines in the psychedelics industry.
COMPASS Pathways plc (Nasdaq: CMPS) reported its financial results for the first quarter of 2021 as the company continues to plug away at research. The net loss was $12.7 million, but Compass was granted 2 patents during the quarter and continues to have a generous cash cushion of $179 million.
Havn Life Sciences Inc. (OTC PINK: HAVLF) reported this week its research team has developed a rapid testing method that enables precise and accurate measurement of psilocybin content in under 5 minutes. The fast test allows the Company to quickly experiment with and validate new extraction processes, which is essential for internal process development and maintaining quality control and accurate dosing of psychedelic compounds.
Numinus Wellness Inc. (TSXV: NUMI) and Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) developers of a functional mushroom brand have submitted a pre-clinical trial application to Health Canada for review and comment. The application includes the investigational product’s chemical constituents, genotype, and formulation as well as procedures and processes to produce a consistent dosage from Psilocybe mushrooms.
And finally, Wesana Health Holdings Inc. (CSE: WESA) began trading on the Canadian Securities Exchange this week under the ticker symbol “WESA.”
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