Marijuana Versus Mushroom Psychedelic Drug Stocks: A Performance Comparison

This article identifies the top 8 clinical-stage psychedelic drug companies in each of the marijuana and mushroom categories that comprise the constituents of munKNEE's Pure-Play Marijuana & Mushroom Psychedelic Drug Stocks Index that is based on those with market capitalizations primarily in excess of $100M and less than $500M. Please note that this new index of 16 clinical-stage marijuana and mushroom/ketamine drug stocks will replace munKNEE's Pure-Play Psychedelic Drug Stocks Index and our Cannabis-Centric BioPharma Stock Index going forward to provide a more comprehensive overview of the sector's fledgling psychedelic drug stocks.  

Here are the details:

Approximately 100 clinical-stage psychedelic drug stocks now trade on the various North American stock exchanges and they are more or less evenly divided between those researching the treatment of a variety of mental illnesses based on the use of "magic mushrooms" (psilocybin), ketamine, DMT, Ibogaine, LSD, or MDMA ("ecstasy") AND those researching the treatment of mental illnesses based on the use of THC marijuana, i.e. 45/55. 

The remaining 84 stocks in our Pure-Play Marijuana & Mushroom Psychedelic Drug Stocks Index are nano-cap stocks (i.e. have market caps below $50M) and are not included in the Index.

Below is the stock price performance for this new pure-play each category in June (and YTD in brackets):

Marijuana-Based Category

The 8 marijuana-based research stocks in munKNEE's Pure-Play Marijuana & Mushroom Psychedelic Drug Stocks Index:

• range in price from $0.03/share and $5.23/share (an average of $1.40/share)
• with an average market capitalization of $124M.

Below is the stock price performance for the category in June (and YTD in brackets) and each component and the major reason(s) why, if any:

1. Revive (RVVTF): +36.1% (N/C YTD)
   •  Its common shares were approved for trading on the OTCQB Market
2. Zynerba (ZYNE): +1.4% (+58.5% YTD)
3. Zelira (ZLDAF): N/C (-33.3% YTD)
4. Tetro Bio (TBPMF): -3.6% (+80.0% YTD)
   • Decline due to general category weakness
5. Allied Corp (ALID): -5.2% (+45.3% YTD) 
   • Decline due to general category weakness
6. Enveric (ENVB): -7.2% (-48.6% YTD)
   • A number of law firms announced that they would be investing potential violations of the federal securities laws and/or breaches of fiduciary duties relating to Enveric's merger with MagicMed Industries Inc.
7. Corbus (CRBP): -9.6% (+43.2% YTD)
   • Announced that its Phase 3 study of lenabasum in adults with dermatomyositis failed to meet the primary endpoint of Total Improvement Score.
8. MGC (MGCLF): -25.0% (-48.6% YTD)
   • Decline due to general category weakness

Category Price Change: -2.1% in June (+8.3% YTD)

Mushroom/Ketamine-Based Category

The 8 mushroom/ketamine-based research stocks in munKNEE's Pure-Play Marijuana & Mushroom Psychedelic Drug Stocks Index:

• range in price from $0.30/share and $5.63/share (an average of $1.54/share)
• with an average market capitalization of $187M.

Below is the stock price performance for the category in June (and YTD in brackets) and each component and the major reason(s) why, if any:

1. Cybin (CLXPF): +43.2% (+41.3% YTD)
   • reported favorable Q4 and Annual financials and provided impressive business highlights
   • announced that it had completed its 51st preclinical study - a critical step in the company’s progress in the Investigational New Drug process
2. Mydecine (MYCOF): +32.0% (-5.7% YTD)
   • announced that its R&D team had discovered over 40 compounds with pharmacological potential in over 25 mushroom species
3. Field Trip (FTRPF): +22.4% (+73.2%)
   • announced that its common shares commenced trading on the Toronto Stock Exchange under the ticker symbol “FTRP” and its warrants under the symbol "FTRP.WT" on June 7, 2021 and delisted its shares from the Canadian Securities Exchange.
4. Small Pharma (DMTTF): N/C (N/A) New company
5. Numinus (LKYSF): -1.3% (+11.9%)
   • announced that it had graduated to Tier 1 Issuer status on the TSX Venture Exchange by which Numinus will benefit from improved service standards, reduced compliance obligations, and increased access to institutional investors.
6. Red Light (TRIP): -6.3% (+20.0% YTD)
   • announced that it had entered into a definitive agreement to merge their business with Creso Pharma to create The HighBrid Lab
7. Seelos (SEEL): -16.6% (+78.5% YTD)
   •  announced that it has been added to the Russell 2000, Russell  3000 and Russell Microcap Indexes as part of the 2021 Russell US Indexes Reconstitution.
   • announced that it has been included in the Defiance Next Gen Altered Experience ETF.
8. Awakn Life (AWKN): N/A (N/A YTD)
   • began trading on, June 23, 2021, on the NEO Exchange Inc.

Category Price Change: +10.4% in June (+53.7% YTD)

Summary

• the Marijuana-Based Category of 8 stocks was:
  • -2.1% in June (+8.3% YTD)
• the Mushroom/Ketamine-Based Category of 8 stocks was:
  • +10.4% in June (+53.7% YTD)
• the munKNEE Pure-Play Marijuana & Mushroom Psychedelic Drug Stocks Index summary was:
  • -2.5% in June (+27.8% YTD)

(For more information on the reason(s) behind the changes outlined above you are urged to click on the stock symbols provided by TalkMarkets, where additional information is provided. All currency amounts are in U.S. dollars. Go here to convert to another currency.)