One hundred (100) clinical-stage psychedelic drug stocks now trade on North American stock exchanges of which 64 (see here) research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them) and 40 research the treatment of illnesses based on the use of THC marijuana.

The munKNEE Psychedelic Compounds-Based Drug Stocks Index tracks clinical-stage startups still in product research and development of novel compounds with no products and no revenue and requiring a great deal of money to fund their R&D expenses.

Psychedelic Compounds-Based Stocks Index

The constituent performances from the end of March until today (May 13th), YTD and from their peaks realized in 2021 are presented below in descending order:

Group 1 (market caps between US$40M and US$69M)

1. Allied Corp. (ALID): DOWN 30.1% since the end of March; (-59.3% YTD); -65.9% from its market high in 2021
   • engaged in 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
   • Chance of Financial Distress in next 2 years: 30%
   • Analyst Consensus: No analysts following ALID
2. Seelos (SEEL): DOWN 33.3%; (-65.6% YTD); -91.1% from its market high in 2021
   • focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
   • Chance of Financial Distress in next 2 years: 73%
   • Analyst Consensus: 12 stock analysts currently rate SEEL as a BUY.
3. Numinus (NUMIF): DOWN 33.3%; (-33.3% YTD); -81.1% from its market high in 2021 
   • 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.
   • Chance of Financial Distress in next 2 years: 24%
   • Analyst Consensus: No analysts following NUMIF
4. Field Trip (FTRP): DOWN 29.9%; (-61.8% YTD); -85.5% from its market high in 2021 
   • focused on building centers for psychedelic therapies across North America and Europe.
   • Chance of Financial Distress in next 2 years: 54%
   • Analyst Consensus: 10 stock analysts currently rate FTRP as a BUY.
5. Cybin (CYBN): DOWN 50.0%; (-65.8% YTD); -87.1% from its market high in 2021 
   • focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
   • Chance of Financial Distress in next 2 years: 62%
   • Analyst Consensus: 14 stock analysts currently rate CYBN as a BUY.
6. Zynerba (ZYNE): DOWN 58.0%; (-70.1% YTD); -90.2% from its market high in 2021 
   • operates as a clinical stage specialty pharmaceutical company
   • Chance of Financial Distress in next 2 years: less than 2%
   • Analyst Consensus: 12 stock analysts currently rate ZYNE as a BUY.

The 6 constituents in Group 1 are DOWN 42.0% since the end of March, on average, DOWN 63.6% YTD and -86.7% from their average market highs in 2021.

Group 2  (market caps in excess of US$300M)

Their performances are presented below in descending order from the end of March, YTD and from their peaks realized in 2021:

1. Atai (ATAI): DOWN 28.5% since the end of March; (DOWN 52.3% YTD); DOWN 81.7% from its market high in 2021
   • Chance of Financial Distress in the next 2 years: 4%
   • Analyst Consensus: 19 stock analysts currently rate ATAI as a BUY.
2. Mind Medicine (MNMD): DOWN 29.7%; (DOWN 43.5% YTD); -83.4% from its market high in 2021
   • Chance of Financial Distress in the next 2 years: 58%
   • Analyst Consensus: 8 stock analysts currently rate MNMD as a BUY.
3. Compass Pathways (CMPS): DOWN 40.8%; (DOWN 65.5% YTD); -84.4 from its market high in 2021
   • Chance of Financial Distress in the next 2 years: 58%
   • Analyst Consensus: 17 stock analysts currently rate CMPS as a BUY.
4. GH Resources (GHRS): DOWN 47.0%; (DOWN 58.1% YTD); -65% from its market high in 2021
   • Chance of Financial Distress in the next 2 years: 58%
   • Analyst Consensus: 10 stock analysts currently rate GHRS as a BUY.

The 4 constituents in Group 2 are DOWN 41.8% since the end of March, on average, DOWN 59.9% YTD and -78.5% from their average market highs in 2021.

When combined with the performance of the 6 stocks in Group 1 the category, in total, is DOWN an average of 41.9% since the end of March, is now DOWN 60.5% YTD and -80.3% from its average market highs in 2021.

A Word of Caution

As mentioned in the introduction, and it is worth repeating, most psychedelic companies are clinical-stage startups still in the product research and development of novel compounds, have no products, have no revenue and require a great deal of money to fund their R&D expenses so do your own in-depth due diligence and, hopefully, the information provided above information will help you arrive at a prudent investment decision.