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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.

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.

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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.

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.

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.

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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.”

Psychedelic medicine biotech company MindMed (OTCQB: MMEDF) said it will acquire HealthMode for roughly C41 million. HealthMode is a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. The acquisition will give MindMed access to HealthMode’s Intellectual Property, platforms for clinical drug trials, and its entire twenty-four-person digital medicine team. MindMed said it will incorporate HealthMode’s machine learning (ML) engineering, product development, and operations employees into its newly established digital medicine division, Albert. 

Revive Therapeutics Ltd. (OTC: RVVTF) entered into an agreement with Newscope Capital Corporation (OTCQB: PHRRF) to buy PharmaTher Inc.’s intellectual property pertaining to psilocybin for roughly C$10 million. PharmaTher is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals.

Field Trip Health Ltd. (OTCQX: FTRPF) reported its third fiscal quarter results for the three ending in December. Patient services revenues of $316,329 represented a 235% increase over the previous quarter. Net loss for the third fiscal quarter was $8 million.

Champignon Brands Inc. (OTCQB: SHRMF) announced it will withdraw and refile its condensed interim consolidated financial statements and MD&A for the three and six month periods ended March 2020. The restatement is related to previously recognized intangible assets in connection with the acquisitions of Artisan Growers, Novo Formulations and Tassili Life Sciences  for roughly $12 million.

That’s it for this week. Psychedellux has been brought to you by the Green Market Report.