Major Psychedelic Drug Stocks Down Another 7% This Week; Now Down 54% YTD
Today's article highlights the performance of the munKNEE Psychedelic Drug Stocks Index which tracks six (6) psychedelic stocks that research the treatment of a variety of mental illnesses based on the use of ten (10) different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them), and have market capitalizations in excess of $50M.
Below are the performances of the 6 constituents this week, in descending order, in the past 6 weeks, and YTD:
- Mind Medicine (MNMD): UP 3.0% this week; DOWN 9.9% in past 6 weeks; DOWN 86.9% YTD
- Is focused on discovering, developing, and deploying therapies to address addiction and mental illness development.
- Atai (ATAI): DOWN 3.4% this week; UP 3.0% in past 6 weeks; DOWN 59.5% YTD
- Is focused on acquiring and developing treatments that lead to paradigm shifts in the mental health space.
- Compass Pathways (CMPS): DOWN 4.0% this week; DOWN 10.5% in past 6 weeks; DOWN 55.5% YTD
- Is focused on the development of psilocybin therapy for people with Treatment-Resistant Depression.
- GH Research (GHRS): DOWN 10.6% this week; DOWN 9.1% in past 6 weeks; DOWN 58.4% YTD
- Is focused on developing 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.
- Cybin (CYBN): DOWN 21.2% this week; DOWN 44.7% in past 6 weeks; DOWN 77.7% YTD
- Is focused on utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches, and treatment regimens for psychiatric disorders.
- Seelos (SEEL): DOWN 27.9% this week; DOWN 9.1% in past 6 weeks; DOWN 50.9% YTD
- Is focused on developing products for the treatment of Central Nervous System disorders and other rare disorders.
In total, the Index went DOWN 6.9% this week, went DOWN 12.7% in the last 6 weeks and is now DOWN 54.4% YTD.
Six (6) other psychedelic companies (see details here) are primarily focused on the development, expansion, and operation of ketamine-assisted therapy (KAT) clinics hoping to capitalize on the massive commercial opportunity that exists to treat the two billion people worldwide who suffer from chronic pain, addiction, substance abuse withdrawal, and depression. All are highly speculative investments and penny stocks with tiny market capitalization. They are as follows, in alphabetical order:
- Awakn Life Sciences Corp. (NEO: AWAKN|OTCQB: AWKNF);
- Delic Corp. (CSE: DELC|OTCQB: DELCF);
- Field Trip Health and Wellness Ltd. (TSXV: FTHW|OTCQB: FTHWF);
- Numinus Wellness Inc. (TSX: NUMI|OTCQX: NUMIF);
- Revitalist Lifestyle and Wellness Ltd. (CSE: CALM|OTCQB: RVLWF);
- Universal Ibogaine Inc. (TSXV: IBO|OTCQB: IBOGF)
The above psychedelic-assisted therapy clinic stocks went UP 11.3%, on average, last week but are DOWN 9.2% in the past 6 weeks and are DOWN 78.5%YTD.
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