Clinical-Stage BioTech Drug Stocks Declined 13% In June

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An Introduction

The 10 clinical-stage AI-focused (designated with *) and psychedelic compound-based (designated with **)  small cap ($400M to $2.0B) drug discovery companies in the munKNEE Clinical-Stage BioTech Drug Stocks Portfolio were DOWN 13.2%, on average, in June and are now down 23.6%, on average, YTD.

Please note: Before proceeding, read Psychedelics Stocks Are Falling After a Shocking Vote at the FDA. Here's What You Need to Know to understand why psychedelic stocks are in decline.

The munKNEE Clinical-Stage BioTech Drug Stocks Portfolio

Below are the stock performances of the 10 constituents in the Portfolio for the month of June and their current market capitalizations:

1. *Relay Therapeutics (RLAY): UP 1.7% in June
   • Area of Focus: specializes in developing an artificial intelligence-driven allosteric drug-discovery platform intended to detect and characterize interactions that occur on a protein of interest and combines computational methods with experimental approaches across the fields of structural biology, biophysics, and chemistry. Its initial focus on precision oncology and genetic diseases.
   • Market Capitalization: $823M
2. *Recursion Pharmaceuticals (RXRX): DOWN 9.4% in June
   • Area of Focus: has one of the world’s most extensive biological and chemical datasets and has several compounds in phase 1 and 2 studies, including a small molecule therapeutic for cavernous cerebral malformation and another for neurofibromatosis type 2.
   • Market Capitalization: $1,750M
3. *Schrödinger (SDGR): DOWN 10.1% in June
   • Area of Focus: specializes in offering solutions for both small molecule discovery and biologics discovery focusing on structure prediction and protein engineering, including antibody modeling.
   • Market Capitalization: $1,390M
4. *Exscientia (EXAI): DOWN 12.1% in June
   • Area of Focus: reported the first AI-designed drug candidate to enter clinical trials and is collaborating with Bristol-Myers Squibb on a handful of drug candidates and has partnered with Sanofi, GSK and PathAI on drug discovery projects.
   • Market Capitalization: $639M
5. **atai Life Sciences (ATAI): DOWN 15.3% in June
   • Area of Focus: focuses 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.
   • Market Capitalization: $219M
6.  **GH Research (GHRS): DOWN 17.2% in June
   • Area of Focus: focuses on the use of mebufotenin, the new International non-proprietary name for 5-MeO-DMT, which stands for 5-MethOxy-N,N-DiMeThyltryptamine. Go here for much more extensive information on DMT.
   • Market Capitalization: $623M
7. **Mind Medicine (MNMD): DOWN 18.1% in June
   • Area of Focus: focuses 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.
   • Market Capitalization: $495M
8. **Compass Pathways (CMPS): DOWN 18.2% in June
   • Area of Focus: focuses on the use of psilocybin (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
   • Market Capitalization: $405M
9. *AbCellera Biologics (ABCL): DOWN 24.5% in June
   • Area of Focus: develops antibody therapeutics and then outsources their initial findings to their partners for further drug discovery.
   • Market Capitalization: $834M
10. *Absci Corporation (ABSI): DOWN 26.8% MTD
    • • Area of Focus: focuses on antibody design, creating new from scratch antibodies (“de novo antibodies”), and testing them in laboratories in a 6-week process.
      • Market Capitalization: $388M

Summary

On average, the above 10 stocks were DOWN 13.2% in June and are now DOWN 23.6% YTD. The 4 constituents in the Psychedelic Compound-based Drug Stocks Portfolio were DOWN 17.6% while the 6 constituents in the AI-focused Drug Discovery Stocks Portfolio were DOWN 10.4%.

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