Largest Psychedelic Compound-Based Drug Stocks Up 15% In February; Now Up 33% YTD

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The 5 constituents in the munKNEE Psychedelic Compound-Based Drug Stocks Index were UP 15.0%, on average, in February led by Incannex Healthcare that was UP 55.1% as a result of the successful completion of a pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA) regarding the development of CannQuit-N for tobacco smoking cessation and control of relapse.

Below is how each constituent stock performed in February, in descending order, and YTD, plus any recent news, commentary, and/or analysis on each company:

1. Incannex Healthcare (IXHL): UP 55.1% in February; UP 17.0% YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
   • Latest News, Commentary and/or Analysis:
     • Incannex Completes Successful Pre-IND Meeting with the FDA for CannQuit-N; a Novel Solution for Tobacco Smoking Cessation
2. Mind Medicine (MNMD): UP 48.2% in February; UP 56.3% 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.
   • Latest News, Commentary and/or Analysis: 
     • MindMed Reports 2023 Financial Results and Business Updates
3. GH Research (GHRS): UP 16.6% in February; UP 52.6% 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.
   • Latest News, Commentary and/or Analysis:
     • GH Research Reports Full Year 2023 Financial Results and Provides Business Updates
4. Atai Life Sciences (ATAI): UP 9.0% in February; UP 37.6% YTD
   • is 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.
   • Latest News, Commentary and/or Analysis: None
5. Compass Pathways (CMPS): DOWN 8.9% in February; UP 17.4% YTD
   • is focused on the use of psilocybin (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
   • Latest News, Commentary and/or Analysis:
     • Compass Pathways Announces Q4 2023 Financial Results and Business Highlights

Summary

The munKNEE Psychedelic compound-Based Drug Stocks Index went UP 15.0% in February and is now UP 32.8% YTD.

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