Of the one hundred (100) psychedelic and marijuana drug companies in the clinical stages of research and development of treatments for a wide variety of mental illnesses, 40 are based on the use of marijuana THC and 60 (see here) 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 constituents in the munKNEE Pure-Play Marijuana and Psychedelic Compounds-Based Drug Stocks Index which have

• market capitalizations of at least US$40M, and
• trade on one or more of the Canadian and/or American stock exchanges.

The Index is divided into:

• the Pure-Play Marijuana Drug Stocks Index and
• the Pure-Play Psychedelic Compounds-Based Drug Stocks Index with the latter divided into 2 sub-groups

and is a non-tradable indices which gives each constituent the same importance to provide a comparison of the performance of each with the others and the stated sector as a whole.

You will note that each constituent in the analyses below has 5 areas of additional information that are imperative for any individual considering investing in this sector:

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 change YTD is hyperlinked to a chart of the company's stock performance.
4. The Chance of Financial Distress percentage is sourced from macroaxis.com (visit the site and type in the stock symbol to obtain detailed financial data on the health of the company).
5. The Analyst Consensus is sourced from stockanalysis.com ((visit the site and type in the stock symbol to obtain a detailed consensus of their recommendations and projections). 

The munKNEE Pure-Play Marijuana Drug Stocks Index

This Index consists of the 4 THC-based drug stocks with market capitalization of at least $40M.  Their performances this past week are presented below in descending order:

1. Corbus Pharmaceuticals (CRBP): UP +66.7%; (DOWN -11.3% YTD)
   • Chance of Financial Distress in next 2 years: +89%
   • Analyst Consensus: 10 stock analysts currently rate CRBP as a BUY.
2. Zynerba Pharmaceuticals (ZYNE): UP +3.5%; (DOWN -27.4% YTD)
   • Chance of Financial Distress in next 2 years: 6%
   • Analyst Consensus: 12 stock analysts currently rate ZYNE as a BUY.
3. Revive Therapeutics (RVVTF): No Change; (DOWN -33.3% YTD)
   • Chance of Financial Distress in next 2 years: +94%
   • Analyst Consensus: No analysts following RVVTF
4. Allied Corp. (ALID): UP -8.3%; (DOWN -24.9% YTD)
   • Chance of Financial Distress in next 2 years: +24%
   • Analyst Consensus: No analysts following ALID

The Index was UP +4.3% this past week but is still DOWN -25.1% YTD and -72.0% from its peak in 2021.

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

This Index consists of 9 psychedelic compound-based drug stocks which 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 UP 1.9%, on average, this past week but are still DOWN -38.3% YTD and DOWN -79.6% from their average peaks in 2021. Their performances are presented below in descending order:

1. Numinus (NUMIF): UP +10.8%; (DOWN -2.4% YTD)
   • Chance of Financial Distress in next 2 years: +39%
   • Analyst Consensus: No analysts following NUMIF
2. Field Trip (FTRP): UP +4.3%; (DOWN -40.2% YTD)
   • Chance of Financial Distress in next 2 years: +67%
   • Analyst Consensus: 10 stock analysts currently rate FTRP as a BUY.
3. Seelos (SEEL): DOWN -7.3%; (DOWN -45.4% YTD)
   • Chance of Financial Distress in next 2 years: +52%
   • Analyst Consensus: 12 stock analysts currently rate SEEL as a BUY.
4. Cybin (CYBN): DOWN -9.8%; (DOWN -38.3% YTD)
   • Chance of Financial Distress in next 2 years: +62%
   • Analyst Consensus: 14 stock analysts currently rate CYBN as a BUY.
5. Small Pharma (DMTTF): DOWN -10.5%; (DOWN -32.0% YTD)
   • Chance of Financial Distress in next 2 years: +77%
   • Analyst Consensus: No Analysts following DMTTF

Group 2

The 4 constituents in Group 2 went DOWN -2.2%, on average, this past week,and are  -33.3%, on average, YTD, and DOWN -64.2% from their average peaks in 2021. Their performances are presented below in descending order:

1. GH Resources (GHRS): UP +4.8%; (DOWN -24.9% YTD)
   • Chance of Financial Distress in next 2 years: +39%
   • Analyst Consensus: 10 stock analysts currently rate GHRS as a BUY.
2. Mind Medicine (MNMD): DOWN -1.7%; (DOWN -14.5% YTD)
   • Chance of Financial Distress in next 2 years: +62%
   • Analyst Consensus: 8 stock analysts currently rate MNMD as a BUY.
3. Compass Pathways (CMPS): DOWN -7.6%; (DOWN -43.3% YTD)
   • Chance of Financial Distress in next 2 years: +58%
   • Analyst Consensus: 17 stock analysts currently rate CMPS as a BUY.
4. Atai (ATAI): DOWN -10.3%; (DOWN -33.6% YTD)
   • Chance of Financial Distress in next 2 years: +52%
   • Analyst Consensus: 19 stock analysts currently rate ATAI as a BUY.

In summary, the munKNEE Pure-Play Marijuana and Psychedelic Compounds-Based Drug Stocks Index went DOWN -1.6% this past week and is DOWN -33.1% YTD and DOWN -67.2% from its peak in 2021.

A Word of Caution

Most psychedelic companies are clinical-stage startups still in the product research and development of novel compounds. They have no products and no revenue and require a great deal of money to fund their R&D expenses so do your own in-depth due diligence. The above information should go a long way to helping you arrive at a prudent investment decision.