This is Psychedellux – the leading recap of the week’s top news in the psychedelics industry.
The Multidisciplinary Association of Psychedelic Studies (MAPS) released data from its Phase III trial with the FDA for the use of MDMA (ecstasy) to treat PTSD. MDMA showed efficacy for treating PTSD in six MAPS Phase II trials, providing a cost-saving and clinically beneficial treatment for those with severe or extreme chronic PTSD resulting from any cause. The Phase III trial data revealed that 67% of the group who received MDMA no longer qualified for a PTSD diagnosis after three treatment sessions
Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) reported its net loss was $26.9 million for the year ending December 31, 2020. Subsequent to the year-end 2020, the company raised approximately $30 million.
Psychedelic clinic companies have been expanding quickly as more patients are seeking alternatives to traditional prescription drug treatments. Field Trip Health Ltd. (OTCQX: FTRPF) opened its fifth location in the United States in the city of Houston, TX. Novamind Inc. (OTC PINK:NVMDF) reported it would open four new Cedar Psychiatry clinics, doubling its network to eight total locations.
Revive Therapeutics Ltd.(OTC: RVVTF) has entered into a sponsored research agreement with the University of California, San Francisco to explore the utility of Bucillamine as a treatment for severe COVID-19.
Champignon Brands Inc. (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) has changed its name from “Champignon Brands Inc.” to “Braxia Scientific Corp.” and its ticker symbol will change from “SHRM” to “BRAX” on the Canadian Securities Exchange (the “CSE”).
Field Trip Health Ltd. (OTCQX: FTRPF) announced that its common shares are now eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States