8 Largest Psychedelic Stocks Continued Their Decline Last Week

psychedelic stocks

110 clinical-stage psychedelic drug stocks trade on Canadian and American stock exchanges, of which 64 research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances (see here), 40 research the treatment of illnesses based on the use of THC marijuana, and 6 are focused on the development and operation of treatment clinics. 

The 8 stocks in the munKNEE Psychedelic Compounds-Based Drug Stocks Index are those that have market caps in excess of $50M. Here is how those constituents performed this past week, in descending order, and YTD:

  1. Allied Corp. (ALID): UP 15.4% this past week; DOWN 66.1% YTD
    • Is 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.
  2. Seelos (SEEL): DOWN 6.9% this past week; DOWN 25.8% YTD
    • Is focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
  3. GH Research (GHRS): DOWN 7.0% this past week; DOWN 44.4% YTD
    • Is focused on developing novel and proprietary 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.
  4. Zynerba (ZYNE): DOWN 8.4% this past week; DOWN 62.2% YTD
    • Is focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery.
  5. Mind Medicine (MNMD): DOWN 9.4% this past week; DOWN 63.6% YTD
    • Is focused on discovering, developing, and deploying the next generation of psychedelic-inspired medicines and therapies to address addiction and mental illness development.
    • Underwent a 1-for-15 reverse stock exchange on August 29th.
  6. Atai (ATAI): DOWN 11.3% this past week; DOWN 49.4% YTD
    • Is focused on acquiring and efficiently developing innovative treatments that address significant unmet medical needs and lead to paradigm shifts in the mental health space.
  7. Compass Pathways (CMPS): DOWN 13.0% this past week; DOWN 38.0% YTD
    • Is 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.
  8. Cybin (CYBN): DOWN 26.2% this past week; DOWN 48.3% YTD
    • Is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.

In total, the munKNEE Psychedelic Compounds-Based Drug Stock Index went DOWN 10.0% this past week and is now DOWN 48.8% YTD.

Six other psychedelic companies are primarily focused on the development, expansion and operation of therapy clinics to capitalize on the massive commercial opportunity that exists to treat the two billion people worldwide who suffer from chronic pain, addiction and substance abuse withdrawal, and depression. They are identified below with a description of each of their commercialization developments and market capitalizations, in descending order of stock performance for this past week and YTD:

  1. Universal Ibogaine Inc. (TSXV: IBO|OTCQB: IBOGF); UP 100% this past week
    • is concentrating on the treatment of Opioid Use Disorder with ibogaine, a naturally-occurring molecule derived from the root bark of the iboga tree and other plants, which has a “Prescription Drug List” status in Canada (vs. Schedule 1 in the US) facilitating research and development toward medicalization;
    • has acquired the revenue-generating Kelburn Addiction Recovery Center practice in Winnipeg, Manitoba, Canada, with the intention of developing a state-of-the-art comprehensive and holistic addiction management care model which will be rolled out to future Universal Ibogaine clinics in Canada, the U.S. and internationally, and to be further monetized by offering training and franchising;
    • has a market capitalization of C$6.7M.
  2. Delic Corp. (CSE: DELC|OTCQB: DELCF); UP 25.0% this past week; DOWN 50.0% YTD
    • has the largest number of psychedelic wellness clinics in the U.S. with three (3) in Arizona, two (2) in Texas, two (2) in Nevada, and one (1) each in Colorado, Florida, Illinois, Minnesota, Utah and Washington;
    • has a market capitalization of C$5M.
  3. Awakn Life Sciences Corp.  (NEO: AWAKN|OTCQB: AWKNF); DOWN 2.3% this past week; DOWN 79.5% YTD
    • is concentrating on the treatment of Alcohol Use Disorder with ketamine and has three (3) fully-operational ketamine-assisted therapy clinics, two (2) in the U.K. and one (1) in Norway, expects to open two (2) more in Manchester and Dublin in 2023 and have 20 clinics in operation by 2024 generating more than $100M in revenue;
    • has signed a licensing partnership agreement with Wellbeings® Pain Management and Dependency Clinic which will enable Ontario based Wellbeings® to treat their patients with Awakn's proprietary ketamine-assisted therapy for the treatment of AUD as a co-morbidity for pain. The terms call for Awakn to provide access to its proprietary therapeutics for AUD and training to Wellbeings practitioners and for Wellbeings to pay Awakn an annual subscription and a revenue share per treatment;
    • has signed a licensing partnership agreement with Revitalist Lifestyle and Wellness Ltd. (see below). The current license agreement calls for Awakn to provide access to its proprietary ketamine as well as training to Revitalist practitioners in return for which, Revitalist will pay Awakn an annual fee and a revenue share per treatment;
    • has a market capitalization of $15M.
    • Go here for the company's latest quarterly (Q2) financial results.
  4. Field Trip Health and Wellness Ltd. (TSXV: FTHW|OTCQB: FTHWF); DOWN 14.3% this past week
    • is concentrating on therapies for treatment resistant depression, post-traumatic stress disorder as well as disorders affecting the central nervous systems;
    • operates ketamine-assisted psychotherapy clinics in Canada (3), the U.S. (8) and Europe (1);
    • has undergone a corporate reorganization that culminated in the spinout of the Company from its former parent entity Reunion Neuroscience Inc., (formerly, Field Trip Health Ltd.) on August 17th and listing on the TSXV under the trading symbol FTHW. Reunion continues to hold 21.84% of Field Trip common shares;
    • has a market capitalization of $15M.
  5. Numinus Wellness Inc. (TSX: NUMI|OTCQX: NUMIF); DOWN 26.7% this past week; DOWN 47.6% YTD
    • has three (3) clinics in Canada (Vancouver, Montreal, and Toronto) centered on the use of ketamine in its therapies but also with the ability to undertake treatments using psilocybin and MDMA (3,4-methylenedioxymethamphetamine, more commonly known by its street drug name, "Ecstasy" or "Molly" - short for 'molecular') as authorized by a Special Access Program regulated by Health Canada that allows people to access certain medications that are not yet authorized or available to the general public;
    • has six (6) clinics in Utah and two (2) in Arizona utilizing ketamine-assisted therapy;
    • has a market capitalization of $57M
  6. Revitalist Lifestyle and Wellness Ltd. (CSE: CALM|OTCQB: RVLWF); DOWN 33.3% this past week; DOWN 75.0% YTD
    • provides ketamine-assisted psychotherapy and other novel treatments through its network of ten (10) integrative mental health clinics operating in six (6) states and nine (9) options on other clinics;
    • has a market capitalization of $2.5M.

The  above psychedelic-assisted therapy (PAT) clinic stocks went DOWN 10.4%, on average, last week and are now DOWN 65.5%, YTD.

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