One hundred (100) clinical-stage psychedelic and marijuana drug companies are in the clinical stages of research and development of treatments for a wide variety of mental illnesses. Forty (40) of them are based on the use of marijuana THC while the 60 others (see here) are doing so based on the use of one or more of 10 different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them). This article updates the stock performances of the 13 companies with the largest market capitalizations which are tracked in the munKNEE Pure-Play Marijuana (4) and the munKNEE Psychedelic Compounds-Based (9) Drug Stocks Index.

The constituents in both our Pure-Play Marijuana Drug Stocks Index and our Pure-Play Psychedelic Compounds-Based Drug Stocks Index have hyperlinks to 4 areas of additional information that are imperative for any individual considering investing in this sector to open and read carefully, namely:

1. The company name is hyperlinked to its website to provide you with a description of the company and an analysis of its stock.
2. The trading symbol is hyperlinked to additional financial data and commentary on the company (where available).
3. The percentage increase YTD is hyperlinked to a chart of the company's stock performance YTD.
4. The "financial distress" percentage is sourced from macroaxis.com.

The munKNEE Pure-Play Marijuana Drug Stocks Index

The number of Marijuana Drug Stocks Index constituents has been reduced to just 4 stocks with the removal of Tetra Bio-Pharma (TBPMF) whose market capitalization has dropped below the minimum of $40M and whose stock price has fallen below the minimum of $0.20/share. The remaining 4 stocks were DOWN -4.7%, on average, last week and are now  DOWN -11.6% YTD and DOWN -68.9% from their average peaks in 2021. Their performances last week are presented below in descending order:

1. Allied Corp. (ALID): DOWN -1.6% last week; (UP +5.1% YTD)
   • The company is researching, creating, and producing targeted cannabinoid health solutions to help people suffering from:
     • Post-Traumatic Stress Disorder (PTSD), anxiety, and depression in addition to growing and processing the cannabis plant itself and developing a line of therapeutic CBD-based products.
   • has a 24% chance of experiencing some form of financial distress in the next two years of operation
2. Revive Therapeutics (RVVTF): DOWN -4.5%; (DOWN -22.2% YTD)
   • The company has been granted two Orphan Drug Designations by the FDA for the use of CBD:
     • in the treatment of: Autoimmune Hepatitis, and
     • in the prevention of Ischemia and Reperfusion Injury resulting from solid organ transplantation, such as liver, kidney, heart, and lungs.
   • has less than a 3% chance of experiencing financial distress in the next few years
3. Zynerba Pharmaceuticals (ZYNE): DOWN -6.4%; (DOWN -13.9% YTD)
   • The company hopes to provide new treatment options for patients battling certain rare neuro-psychiatric diseases (those affecting fewer than 200K patients in the U.S.) and near-rare neuropsychiatric conditions (i.e. those affecting fewer than one million patients).
   • Its clinical pipeline consists of research into:
     • Fragile X Syndrome;
     • 22q Deletion Syndrome;
     • Autism Spectrum Disorder;
     • a heterogeneous group of rare and ultra-rare epilepsies known as Developmental & Epileptic Encephalopathies (DEE) and
     • Autoimmune conditions such as Crohn's Disease, IBS, and Eczema.
   •  has 53% odds of going through some form of financial distress in the next two years
4. Corbus Pharmaceuticals (CRBP): DOWN -7.9%; (DOWN -43.5% YTD)
   • The company's lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes such as:
     • Dermatomyositis (in Phase 3) and
     • Systemic Lupus Erythematosus (in Phase 2).
   • has a +93% chance of experiencing financial distress in the next few years of operation

The munKNEE Pure-Play Psychedelic Compounds-Based Drug Stocks Index

The number of Psychedelic Compound-Based Drug Stocks Index constituents has been reduced to 9 stocks with the removal of Red Light Holland (TRUFF) and Awakn Life Sciences (AWKNF) whose market capitalizations have dropped below the minimum of $40M. The remaining 9 stocks are divided into 2 groups based on their market capitalizations: $40M>$399.9M (Group 1) and $400M+ (Group 2). 

Group 1

There are 5 constituents in Group 1 and they were DOWN -6.9%, on average, last week and are now DOWN -27.0% YTD and DOWN -77.4% from their average peaks in 2021. Their performances are presented below in descending order:

1. Small Pharma (DMTTF): UP +4.5% last week; (DOWN -8.0% YTD)
   • focused on developing N,N-dimethyltryptamine and a pipeline of novel patent-protected deuterium-enriched tryptamine compounds in combination with psychotherapy as potential rapid onset, sustained treatments for depression and other mental health disorders.
   • has a +77% chance of experiencing some form of financial distress in the next two years of operation
2. Cybin (CYBN): DOWN -1.9%; (DOWN -13.3% YTD)
   • focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
   • has a +62% chance of experiencing financial distress in the next few years of operation.
3. Seelos (SEEL): DOWN -5.2%; (DOWN -33.1% YTD)
   • focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
   • has a +77% chance of experiencing financial distress in the next few years of operation.
4. Numinus (NUMIF): DOWN -10.0%; (UP +7.1% YTD) 
   • provides clients with testing of controlled compounds such as LSD, ketamine, DMT, MDMA, mescaline, psilocybin and psilocin as well as conducting research of both MDMA and psilocybin to treat PTSD, depression, anxiety, and addiction.
   • has a +28% chance of experiencing financial distress in the next few years of operation
5. Field Trip (FTRP): DOWN -11.5%; (DOWN -37.4% YTD)
   • focused on building centers for psychedelic therapies across North America and Europe.
   • has a 43% chance of experiencing some form of financial distress in the next two years of operation.

Group 2

The 4 constituents in Group 2 went DOWN -4.9%, on average, last week, and are now DOWN -29.4%, on average, YTD, and DOWN -67.4% from their average peaks in 2021. Their performances are presented below in descending order:

1. Atai (ATAI): UP +3.6% last week; (DOWN -27.1% YTD)
   • has a +56% chance of experiencing financial distress in the next few years of operation.
2. Mind Medicine (MNMD): UP +1.7%; (DOWN -11.6% YTD)
   • has a +58% chance of experiencing financial distress in the next few years of operation.
3. GH Resources (GHRS): DOWN -2.9%; (DOWN -22.6% YTD)
   • has a 54% chance of experiencing financial distress in the next two years of operation.
4. Compass Pathways (CMPS): DOWN -10.9%; (DOWN -39.5% YTD)
   • has a 62% chance of experiencing financial distress in the next few years of operation.

In summary, Group 1 and Group 2 of the munKNEE Pure-Play Psychedelic Compounds-Based Drug Stocks Index went DOWN -5.1% last week and are now DOWN -29.2% YTD and DOWN -66.8% from their constituent peaks in 2021. 

Conclusion

Combined, the munKNEE Pure-Play Marijuana Drug Stocks Index and the munKNEE Pure-Play Psychedelic Compound-Based Drug Stocks Index went DOWN -5.0%, on average, last week and are now  DOWN -27.7% YTD and DOWN -68.8% from their average constituent peaks in 2021.