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Seelos Therapeutics' market capitalization has dropped below the Index minimum requirement of $50M with the dramatic decline in its share price two weeks ago after announcing that its Phase 2 trial of SLS-002 as a treatment for Acute Suicidal Ideation and Behavior in adults with Major Depressive Disorder had  failed to meet its primary endpoint and, as such, has been removed from our munKNEE Psychedelic Drug Stocks Index.  (*Read 10 Psychedelic Substances And The 36 Companies Researching Them for a description of each of the psychedelic-based compounds mentioned in this article.)

The stock performances of the remaining 5 constituents in the Index last week are ranked below in descending order along with their performances in the month of September and YTD.

1. Incannex Healthcare (IXHL): up 0.9% last week; down 21.4% in September; down 59.3% YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
2. GH Research (GHRS): down 1.1% last week; down 5.5% in September; up 5.8% 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.
3. Atai (ATAI): down 1.5% last week; down 15.7% in September; down 50.0% 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.
4. Compass Pathways (CMPS): down 5.9% last week; down 18.2% in September; up 5.2% YTD
   • is focused on the use of psilocybin (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
5. Mind Medicine (MNMD): down 13.3% last week; down 24.6% in September; up 65.6% 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.

Summary 

The revised munKNEE Psychedelic Drug Stocks Index was down 4.4% last week, went down 14.2% in September and is now down 3.4% YTD.

If you are interested in this category, consider the  AdvisorShares Psychedelic ETF (PSIL) of 23 such stocks, of which the majority have market capitalizations of less than $50M. It was down 3.0% last week, down 11.5% in September and is now down 13.4% YTD.

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