Major Psychedelic Compound-Based Research & Development Stocks: June Update

Our munKNEE Psychedelic Drug Stocks Index, has been revamped again with the removal of Cybin (CYBN). CYBN dropped below $100M in market capitalization several months ago and is now trading at $0.22/share, well below the qualifying minimum price of $1/share. That leaves 6 constituents in the Index, which are having for the most part a good month, and a good year. Here's the updated tally for the current index composition.

1. GH Research (GHRS): up 10.3% MTD; up 28.3% 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 but is better known by its nickname, “The Toad”,
   • Read: GH Resources: Focus On Treatment-Resistant Depression Paying Off 
2. Compass Pathways (CMPS): up 6.8% MTD; up 0.4% YTD
   • is primarily focused on the use of psilocybin* (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
3. Mind Medicine (MNMD): up 3.4% MTD; up 71.8% 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: Researching LSD And MNMA To Treat Neurological Diseases
4. Incannex Healthcare (IXHL): up 2.1% MTD; down 31.4% YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
   • Read: Incannex Healthcare Has World's Largest Pipeline Of Psychedelic Products
5. Seelos (SEEL): down 1.0% MTD; up 41.5% YTD
   • is primarily focused on the use of ketamine*. Go here for much more extensive information on Ketamine.
   • Read: Seelos Addressing Significant And Unmet Needs In Rare Psychiatric And Movement Disorders
6. Atai (ATAI); down 2.2% MTD; down 32.2% YTD
   • is primarily 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: Long On Money; Short On Success

*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:

The munKNEE Psychedelic Drug Stocks Index is up 6.6% MTD and is now up 10.8% YTD.

If you are interested in this category of clinical-stage psychedelic compound-based stocks consider the  AdvisorShares Psychedelic ETF (PSIL) which consists of 23 such stocks - but keep in mind that the vast majority have market capitalizations of $50M or less (i.e. are nano-caps). It is up 5.9% MTD and is now down 3.2% YTD.

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