TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence. 

The munKNEE Pure-Play Psychedelic Drug Stock Index collapsed -12.4% last week with each of the 15 constituents declining anywhere from -7.1% to -27.8%. The Index is now -6.1% YTD.

Investors could see strong growth in the psychedelic drug industry as companies commercialize breakthrough therapeutics while patients could finally have access to life-changing treatments for a range of mental health conditions that have no effective treatment options today. According to Data Bridge Market Research, the market for psychedelic drugs are becoming increasingly accepted in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, opiate addiction, eating disorders, and fibromyalgia, among other things and is projected to grow from just over $2 billion last year to about $6.9 billion by 2027 which represents a blistering 16.3% compound annual growth rate over the forecast period. 

Below is the performance of each of the constituents in the munKNEE Pure-Play Psychedelic Drug Stock Index with YTD performance in brackets and noteworthy developments over the past week:

1. Cybin* (CLXPF): -6.3% (-20.7%) to $1.19/share
   • Commenced trading on the OTCQB(R) Venture Market under the symbol “CLXPF.”
2. Field Trip Health* (FTRPF): -6.9% (+58.8%) to $5.16/share
3. Mind Cure Health* (MCURF): -7.1% (-22.0%) to $0.39/share
   • Identified opportunities for ibogaine, a naturally occurring psychoactive compound extracted from the root of the Tabernanthe iboga shrub, native of the Congo and Gabon in West Africa. Ibogaine is thought to repair and reset the brain's reward system, facilitating
     • detoxification in the context of addiction,
     • stimulate the growth of new dopamine neurons to support its therapeutic potential for neurodegenerative conditions such as Parkinson's and Alzheimer's disease and 
     • support neuro-regenerative pathways that the Company believes could be pivotal in treating neuropathic pain and brain trauma.
   • Began the first stage of manufacturing pharmaceutical grade ibogaine to be used in preclinical and clinical research.
   • Made an initial strategic investment of $500,000 Calgary -based private healthcare company, ATMA, which has recently provided psychedelic-assisted therapy sessions using psilocybin for patients with section 56 exemptions, to secure a network of clinics in which to deploy and test MINDCURE's iSTRYM platform, and concurrently,  provide MINDCURE with access to patient data accelerating the growth of iSTRYM 's database which will lead to better diagnoses, treatments and personalized care.
4. Psyence Therapeutics (PSYG): -7.7% (-28.0% since end of Jan.) to C$0.36/share
   • Launched its functional (i.e. edible) mushroom brand through a 50/50 partnership between Psyence, via its subsidiary Psyence Biomed Corp., and Southern Sun Pharma Inc.'s wholly owned subsidiary, Goodmind (Pty) Ltd., a South African-based special purpose vehicle, to establish a revenue-generating business by executing on opportunities in the functional mushroom space through retail stores, online, wholesale, and deli and coffee shops.
   • Entered into an agreement with Base Pair Global Pte. Ltd., a Singapore-based medical biology, forensic science and product development company that develops advanced nutritional and health products for global clients, with a strong focus on organic and naturally occurring ingredients.
5. Novamind (NVMDF): -8.2% (+12.5%) to $1.35/share
   • Reported its Q2 financial results for the three months ended December 31, 2020
6. Havn Life*  (HAVLF): -9.7% (-15.6%) to $0.65/share
7. Seelos Therapeutics* (SEEL): -10.4% (+68.4%) to $2.66/share
8. Mind Medicine* (MMEDF): -11.1% (-3.3%) to $2.95/share
   • Entered into an agreement with Canaccord Genuity Corp. to purchase 6M units of the Company for resale for aggregate gross proceeds to the Company of C$19.5M on or about March 9, 2021. The net proceeds will be used for further investment in Project Lucy (experiential LSD), the Microdose LSD Program, and Project Albert, which is now integrating MindMed’s most recent technology acquisition HealthMode to build a comprehensive mental health platform to deploy psychedelics medicines, and for general working capital purposes.
9. Champignon Brands (SHRMF): -11.5% (-25.8%) to $0.46/share
10. Compass Pathways* (CMPS): -12.2% (-16.9%) to $39.61/share
11. Numinus Wellness* (LKYSF): -13.4% (+22.6%) to $1.03/share
    •  Announced, in conjunction with Syreon Corporation (Syreon), a global contract research organization with expertise in conducting clinical trials across a broad range of diseases, that significant progress has been made in the single-arm, open-label compassionate access trial of Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders. Currently, in the development stage, the PRIME study will assess the efficacy and safety of psilocybin-assisted motivational enhancement therapy.
12. Revive Therapeutics* (RVVTF) -22.5% (-32.4%) to $0.31/share
    • Announced that it planned to expand its Phase 3 clinical trial, to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19, from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the trial in Q2-2021.
13. Jaguar Health (JAGX): -23.3% (+98.8%) to $1.61/share
    • Agreed to a third $5M non-dilutive transaction in which it would sell to the lender, for an aggregate purchase price of $5M, a royalty interest in future potential crofelemer sales for the proposed COVID-related indication in long-hauler patients for which the Company is currently exploring the pathway of conditional marketing authorization in the European Union. Jaguar intends to use the proceeds to support regulatory activities associated with the Company's development pipeline, including supporting the development program for crofelemer for the prophylaxis and/or symptomatic relief of inflammatory diarrhea, initially to be studied in a long-hauler COVID-19 recovery patient population.
14. Mindset Pharma (MSSTF): -27.8% (-25.5% since end of Jan.) to $0.70/share
15. Red Light Holland* (TRUFF): -28.6% (N/C) to $0.25/share
    • Launched its Virtual Tele-counseling membership program on its iMicrodose Digital Care App in the Netherlands.

* indicates that the stock is also a constituent in the new - and tradable - Horizons Psychedelic Stock Index ETF (PSYK) which began trading on the Canadian NEO Exchange on January 26th and closed -11.8% last week to C$8.63 as compared to the munKNEE Pure-Play Psychedelic Drug Stocks index which closed -12.4% for the week. The Horizon Index, however, is not a pure-play ETF in that it also includes Johnson & Johnson, AbbVie Inc. and Greenbrook TMS Inc. which are not directing 100% of their efforts into the research and development of psychedelic components for medical applications. The munKNEE Pure-Play Psychedelic Drug Stocks Index, on the other hand, is a pure-play and, as such, provides a true picture of the health and trend of this new stock sector. 

Please Note: Company names above have been hyperlinked to their corporate web sites and every company trading symbol has been hyperlinked to stock charts, in-depth financial data, and links to other articles on the company to enable the reader to do their due diligence before making a decision to invest in any stock mentioned. Also, keep in mind that some stocks in this sector trade for less than $1/share (i.e. are penny stocks) and may be susceptible to manipulation by unscrupulous speculators.  All prices are in USD unless otherwise noted. Go here to convert to another currency.