6 Largest Psychedelic Compound-Based R & D Stocks In Decline

Image Source: Pixabay

The 6 psychedelic-compound-based research & development stocks in our munKNEE Psychedelic Drug Stocks Index were down 2.6%, on average, this week and are now only up 6.5% YTD. They are ranked below in descending order as to their performances this week and YTD..

1. Compass Pathways (CMPS): up 1.3% this week; up 21.0% YTD
   • focused on the use of psilocybin* (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
   • Read: COMPASS Pathways Announces Second Quarter 2023 Financial Results and Business Highlights
2. Mind Medicine (MNMD): down 2.9% this week; up 87.3% YTD
   • is primarily focused on the use of LSD* and MNMA*. Go here for much more extensive information on LSD and  here for much more extensive information on MNMA.
   • Read: MindMed Reports Second Quarter 2023 Financial Results and Business Highlights
3. GH Research (GHRS): down 4.0% this week; up 4.8% YTD
   • is primarily focused on the use of mebufotenin*, the new International non-proprietary name for 5-MeO-DMT, which stands for 5-MethOxy-N,N-DiMeThyltryptamine.
   • Read: GH Research Reports Second Quarter 2023 Financial Results and Provides Business Updates
4. Seelos (SEEL): down 6.4% this week; up 56.9% YTD
   • focused on the use of ketamine*. Go here for much more extensive information on Ketamine.
   • Read: Seelos Therapeutics Provides Second Quarter 2023 Clinical Update
5. Atai (ATAI): down 7.1% this week; down 44.6% YTD
   • focused on the use of ketamine*, DMT* and ibogaine*.  Go here for much more extensive information on Ketamine and here for much more extensive information on DMT.
   • Read: atai Life Sciences Reports Second Quarter 2023 Financial Results and Operational Highlights, and Announces Clinical Data from the Phase 1 Study of DMX-1002 (Ibogaine)
6. Incannex Healthcare (IXHL): down 8.9% this week; down 52.5% YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
   • Read: Incannex preparing psilocybin therapy FDA IND application

*Read 10 Psychedelic Substances And The 36 Companies Researching Them for a description of each of the psychedelic-based compounds mentioned in this article.

Summary

As mentioned in the introduction, our munKNEE Psychedelic Drug Stocks Index was down 2.6% this week and is now only up 6.5% YTD.

If you are interested in this category, consider the  AdvisorShares Psychedelic ETF (PSIL) of 23 such stocks, of which the majority have market capitalizations of less than $50M. It is down 2.2% this week and is now down 4.3% YTD.

---

More By This Author:

American MSO Cannabis Stocks Continued Upward This Week
Which AI "Bubble" Stocks Are Over- And Under-Valued
U.S. Cannabis Stocks Continue Upwards This Week - Here's Why