November Recap: Psychedelic Drug Stocks Index Driven Higher By Incannex

The 5 constituents in the munKNEE Psychedelic Drug Stocks Index had declined 46.5% over the past 3 months only to jump up 30.2% in November thanks in large part to Icannex Healthcare which, with the completion of its re-domiciliation to the U.S. on the last day of November. Below is how their performances ranked, in descending order, in November.

1. Incannex Healthcare (IXHL): UP 423.0%
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
   • Read: Incannex Healthcare Announces Completion of its Re-domiciliation to the United States
2. Mind Medicine (MNMD): UP 33.6%
   • 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 Reports Third Quarter 2023 Financial Results and Business Highlights
3. Compass Pathways (CMPS): UP 13.0%
   • is focused on the use of psilocybin (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
   • Read: Compass Pathways PLC (CMPS) Reports Q3 2023 Financial Results and Business Highlights
4. Atai Life Sciences (ATAI): DOWN 1.9%
   • 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.
   • Read: atai Life Sciences Reports Third Quarter 2023 Financial Results and Pipeline Highlights
5. GH Research (GHRS): DOWN 9.7%
   • 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.
   • Read: GH Research Reports Third Quarter Financial Results and Provides Business Updates

Summary

The munKNEE Psychedelic Drug Stocks Index was DOWN 14.3% in August, DOWN another 14.2% in September and DOWN 27.3% in October but was UP 30.2% in November. Were IXHL excluded from the November calculation the Index would only have gone UP 5.3%, but UP never the less. The Index is now only DOWN 12.5% YTD.

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