Major Psychedelic Stocks Down This Week; Still Up Since End Of June

psychedelic stocks

There are 108 clinical-stage psychedelic drug stocks trading on North American stock exchanges (see here) of which 68 research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances (see here) and 40 research the treatment of illnesses based on the use of THC marijuana.

The 8 stocks in the munKNEE Psychedelic Compounds-Based Drug Stocks Index are those that have market caps in excess of $50M and they went DOWN 8.4% this week for the first time in 5 weeks (i.e. the end of June) but are still UP 45.3% since then albeit DOWN 34.4% YTD.

Below is how they performed this week, in descending order, along with their performances since the end of June:

Mind Medicine (MNMD): UP 14.5% this week; UP 14.1% since the end of June
- focused on discovering, developing, and deploying the next generation of psychedelic-inspired medicines and therapies to address addiction and mental illness development.
Cybin (CYBN): UP 11.1% this week; UP 42.9% since the end of June
- focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
Zynerba (ZYNE): UP 7.4% this week; UP 14.9% since the end of June
- focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery.
Allied Corp. (ALID): UP 5.8% this week; UP 14.6% since the end of June
- focused on the research, development, and production of cannabinoid health solutions in the United States and has a product in a Phase I clinical trial in Columbia for treating post-traumatic stress disorder.
Atai (ATAI): UP 4.6% this week; UP 25.8% since the end of June
- focused on acquiring and efficiently developing innovative treatments that address significant unmet medical needs and lead to paradigm shifts in the mental health space.
Seelos (SEEL): DOWN 5.0% this week; UP 39.7% since the end of June
- focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
Compass Pathways (CMPS): DOWN 8.5% this week; UP 69.7% since the end of June
- focused on the development of a new model of psilocybin therapy for people with treatment-resistant depression, in which psilocybin is administered in conjunction with psychological support.
GH Research (GHRS): DOWN 15.6% this week; UP 33.6% since the end of June
- focused on developing novel and proprietary 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.