Psychedellux Archives - Green Market Report

Video StaffVideo StaffMay 7, 2021

3min3310

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

 


Video StaffVideo StaffApril 30, 2021

3min6800

This is Psychedellux – the week’s top psychedelic industry headlines.

MindMed (NASDAQ: MNMD) shareholders have been taken on quite the trip over the last few days as the company uplisted from the Over The Counter Market to the big time at the NASDAQ. The stock jumped to over $5 a share in its last days at the OTC Markets, only to move to midtown Manhattan and see the shares plunge 29% in its debut. The stock closed at $4.02 on Tuesday. 

Numinus Wellness Inc. (TSXV: NUMI) announced that it has formed a partnership with KGK Science, a leading contract research organization with expertise in natural products, to undertake a new Psilocybin extraction clinical trial. The Phase 1 trial will enroll 14 human volunteers and assess the safety and psychoactive properties of a Psilocybe mushroom product extracted and formulated at the Numinus Bioscience lab. The company also said it was listing its warrants on the TSX Venture Exchange

PharmaTher Holdings Ltd. (OTCQB: PHRRF) has filed a provisional patent application with the U.S. Patent and Trademark Office outlining the novel use of ketamine as a potential treatment for Type 2 diabetes and obesity, based on the evaluation of the company’s drug repurposing artificial intelligence platform. PharmaTher recently used this platform to discover novel uses of psilocybin in the potential treatment of certain cancers, which led to the sale of the company’s psilocybin intellectual property portfolio to Revive Therapeutics Ltd. (OTC: RVVTF) for a consideration of up to C$10 million.

COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced the launch of a proposed public offering of 4,000,000 American Depositary Shares (“ADSs”), each representing one ordinary share.


Video StaffVideo StaffApril 23, 2021

3min8960

This is Psychedellux – the week’s top business headlines for the psychedelics industry

 Atai Life Sciences plans to raise $100 million in an IPO. The company has built a pipeline of 10 therapeutics and six enabling technologies. 

Lots of medical updates this week. 

Aion Therapeutics Inc. (CSE: AION) announced that its proprietary and patented combinatorial mushroom preparations showed high efficacy in killing HER2+ breast cancer cells, ER+/PR+ breast cancer cells, and triple-negative breast cancer cells by direct cytotoxicity. The company said it plans to begin initiating clinical trials.

Revive Therapeutics Ltd. (CSE: RVV, USA: RVVTF) announced the successful completion of the research results and filing of a U.S. provisional patent application with The United States Patent and Trademark Office on its oral thin-film delivery system with psilocybin 

Cybin Inc. (OTCQB:CLXPF)  announced that it has successfully demonstrated Proof of Concept for its deuterated tryptamine programs, CYB003 and CYB004, for the treatment of depression and addiction. Cybin is working to shorten the length of time that psilocybin treatments take and this program is part of that research. 

NeonMind Biosciences Inc. (OTC:NMDBF)  said that it is establishing a medical services division for the delivery of evidence-backed innovative treatments for a variety of mental health needs. This will include psychedelic modalities and other newer treatments for mood disorders such as depression. NeonMind has appointed Ernie Ho as VP, Corporate Development, with his initial focus to be the development of the team to build out medical services as well as to identify and assess partnership and acquisition targets.

 


Video StaffVideo StaffApril 9, 2021

3min10660

This is Psychedellux – the week’s top news for psychedelic stocks.

Tryp Therapeutics (OTCQB: TRYPF) began trading this week on the OTCQB Venture Market under the symbol “TRYPF” and will continue to trade on the Canadian Securities Exchange under the symbol “TRYP”. Last week the company appointed Greg McKee as its Chief Executive Officer.

Mydecine Innovations Group  (OTC: MYCOF) has announced its four lead novel drug candidates as it prepares for its Pre-Investigational New Drug (IND) meetings with the FDA and Health Canada. Mydecine said it believes that these drug candidates are unique and patentable in the United States and Canada and has received advice from counsel confirming such belief.

Empower Clinics Inc.(OTCQB:EPWCF) announced that patient counts increased by 460% in Q1 2021 (26,317) versus Q1 2020 (5,717). Patient counts for the month of March increased by 388% with total patient counts of 8,379 in March 2021 compared to 2,160 in March 2020.

MindMed (OTCQB: MMEDF) announced the publication of the first study on MDMA dosing optimization using personalized medicine. The dose of MDMA per kg body weight of the treated person best predicted the MDMA concentrations in the body and also mainly determined the acute subjective response to MDMA.

And finally, NeonMind Biosciences Inc. (OTC PINK: NMDBF) is starting a three phase university study dedicated to creating an ideal music playlist to accompany therapeutic psychedelic sessions. It seems that the music a person listens to during a therapeutic trip is a major determinant of the overall experience. The first phase is an online playlist candidate validation study, surveying 50 people with relation to the self-transcendent emotions experienced when listening to snippets of longer musical tracks.

Psychedellux has been brought to you by Green Market Report.


Video StaffVideo StaffApril 2, 2021

3min7390

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.


Video StaffVideo StaffMarch 26, 2021

3min6060

This is Psychedellux, the week’s recap of psychedelic stock news. 

 

COMPASS Pathways plc (Nasdaq: CMPS) said it has been granted two new patents. These patents cover oral formulations of COMPASS’s synthetic psilocybin in the treatment of major depressive disorder (MDD), which includes treatment-resistant depression (TRD).

 

Psychedelics-inspired biotech and life sciences company Mydecine Innovations Group, a company, is now listed on the NEO Exchange, following a voluntary delisting from the Canadian Securities Exchange. Mydecine is now trading on NEO under the symbol NEO:MYCO.

 

MindMed (NEO: MMED), (OTCQB: MMEDF), (DE: MMQ) announced that effective as of Friday March 19th, 2021, it has been added to the FTSE Global Micro-Cap Index (which represents $1.3 trillion in global market cap) and the FTSE Total-Cap index (which represents $54.7 trillion in global market cap).

 

20/20 Global, Inc. dba Mycotopia Therapies, (OTC Pink: TWGL) announced it has formed PsyBioMed – Australia and entered into a letter of intent to jointly conduct clinical trials in Australia using psychedelics to treat mental illness. PsyBioMed – Australia will be a joint venture between Mycotopia Therapies and Melbourne, Victoria based psychedelic research and development company Natural MedTech. 

 

And finally a 2020 Global Drug Survey found that women are more likely than men to use LSD and magic mushrooms to treat psychiatric conditions and emotional stress.


Video StaffVideo StaffMarch 19, 2021

2min7430

This is Psychedellux – the week’s top news in the psychedelics industry. 

Initiative 81 in Washington DC, the Entheogenic Plant and Fungus Policy Act of 2020, became law. Initiative 81 changed DC law to make the enforcement of laws against those using plant and fungi medicines among the lowest law enforcement priorities. The ballot measure passed with support from more than 76% of DC voters in the November 2020 election.

Field Trip Health Ltd. (OTCQX: FTRPF) closed the bought deal offering that brought the company a whopping $95 million. The deal was upsized from the originally planned $50 million. 

Numinus Wellness Inc. (TSXV: NUMI) has entered into a upsized agreement with Eight Capital and Canaccord Genuity to raise $35 million. 

Novamind Inc., (OTC PINK:NVMDF) announced that its wholly-owned subsidiary, Cedar Clinical Research has been selected as a key research site for a clinical trial focused on treatment-resistant depression by Merck & Co., a world-leading pharmaceutical company.

British firm specializing in psychedelic drugs Small Pharma said it has raised C$58mln through a financing round to fund a reverse takeover. 

Lattice Biologics Ltd. (OTCBB: LBLTF) announced that it would change its business strategy to focus on the psychedelics and cannabis markets through the creation of a new life sciences subsidiary. 

Creso Pharmaceuticals Ltd (ASX:CPH) (FRA:1X8) has become the ASX’s first psychedelics stock by way of its acquisition of Canadian psychedelic medicine company Halucenex Ltd.

Psychedellux has been powered by the Green Market Report. 


Video StaffVideo StaffMarch 12, 2021

2min6180

This is Psychedellux, the week’s top news in the psychedelic industry

Psychedelic medicine company Compass Pathways plc (Nasdaq: CMPS) reported its financial results for the fourth quarter and year-end 2020 and gave an update on recent progress across its business. Compass delivered a net loss for the quarter ending in December 2020 was $18.8 million, or $0.52 loss per share versus last year’s net loss of $7.6 million, or $0.90 loss per share for the same period in 2019. The earnings beat the average analyst estimate according to Yahoo Finance which was for a loss of $1.05. The stock was trading slightly higher and was lately selling at $39.

Psychedelic medicine biotech company Mind Medicine (MindMed) Inc. (OTCQB: MMEDF)  has entered into a bought deal private placement that raised roughly $15.4 million 

NeonMind is exploring psilocybin as an innovative treatment approach to support weight loss. The company said it has engaged Certara, a leader in model-informed drug development to provide strategic drug development support for the investigation

Cybin Inc. (OTCQB:CLXPF) announced that its shares began trading on the OTCQB Venture Market on March 8, 2021, under the symbol “CLXPF.”

 

 


Video StaffVideo StaffMarch 5, 2021

3min3720

This is Psychedellux your weekly recap of the psychedelic industry business news

Psychedelic media company Delic Holdings Inc. (OTCQB: DELCF) has acquired mushroom kit maker and media company Homestead brands in an all-stock deal. DELIC issued subordinate voting shares worth $50,000 and 50,000 incentive stock options were also granted to Homestead founder David Tatelman, with an exercise price of $0.58. David Tatelman will act as a consultant to the company.

NeonMind Biosciences Inc. (CSE: NEON) (OTC:NMBDF) announced that they have filed four additional provisional patents on psilocybin preclinical data. NeonMind has a consumer products division focusing on medicinal mushroom infused products, as well as a pharmaceutical division focused on drug development of psychedelic compounds. 

Optimi Health Corp. (CSE: OPTI) closed its oversubscribed IPO and began trading its shares last Friday on February 25, 2021 on the Canadian Securities Exchange. 

Mydecine completed its harvest of psilocybin mushrooms at a private facility in Jamaica. The first shipment of the harvest has now been received at Mydecine’s Canadian facility, which has a Health Canada Schedule 1 Dealer’s License attached to it.

 Novamind Inc. (OTC:NVMDF) reported its fiscal second-quarter results for the three months ended December 31, 2020. The company had revenue of $1.2 million primarily composed of patient services from the clinics in Utah. The company said it was a 47% increase over the first fiscal quarter ending September 30th, 2020.

Ehave, Inc. (OTC Pink: EHVVF) filed for a patent for a trademark on its KetaDASH brand name. The company also filed its application to uplist its shares on the OTCQB market.

Cybin Inc. (OTCQB:CLXPF) uplisted from the Pink Sheets to the OTCQB Venture Market with the symbol “CLXPF”.


Video StaffVideo StaffFebruary 26, 2021

3min3040

This is Psychedellux, the week’s top news for the psychedelics industry.

Massachusetts lawmakers are moving forward to decriminalize psychedelic drugs. The effort began at the city level when Somerville and Cambridge adopted measures that would make possession of psychedelics a low law enforcement priority. Now it has moved to a state-wide initiative with legislature introduced in both the state senate and house. 

Red Light Holland Corp. (OTC: TRUFF) announced that Brazil has granted authorization for the company’s iMicrodose packs, which contain 15g of Psilocybin Truffles, to be legally imported to Brazil. Also this week, the company issued 26 million units in an offering that brought in over $11 million. 

EMPOWER CLINICS INC. (EPWCF:OTCQB) announced the launch of its first three integrated health centres in Ontario, Canada with each location expected to generate $2.5 – $3.6 million in annual revenue. Advanced discussions are currently underway on multiple additional locations as the company begins the rollout of its national clinic expansion strategy.

NeonMind Biosciences Inc. (CSE: NEON) has purchased an initial order of GMP grade psilocybin from Psygen Labs Inc. for its planned phase 2 human clinical trial expected to begin in Canada later this year. Psygen is a Calgary-based company specializing in the synthetic manufacture of psychedelic medicines. The company provides non-exclusive access to psychedelic drug products for clinical research, therapeutic applications and is a leading supplier for the emerging commercial market.

Novamind Inc., (OTC PINK:NVMDF)  has changed its OTC symbol from “HNLMF” to “NVMDF” effective February 19, 2021.

Psychedellux has been brought to you by the Green Market Report.


Get the latest news delivered straight to your inbox!

Join to receive our weekly digest of today's most critical financial news on the cannabis industry

We respect your privacy. Your information is never shared.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 21 hours

So much happened this week in the industry. Did you miss something? Watch from…

@GreenMarketRpt – 21 hours

Welcome to the weekend! Catch up on all the of the week with #GreenMarketReport…

Back to Top