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With the 82.6% collapse of Seelos Therapeutics (SEEL) last week (see below) the 6 psychedelic-compound-based research & development stocks in our munKNEE Psychedelic Drug Stocks Index declined by 13.0%, on average, and are now down 5.2% YTD. They are ranked below in descending order as to their performances last week.

1. GH Research (GHRS): down 3.2% last week; up 6.5% YTD
   • is primarily focused on the use of mebufotenin, the new International non-proprietary name for 5-MeO-DMT, which stands for 5-MethOxy-N,N-DiMeThyltryptamine.
2. Atai (ATAI): down 9.7% last week; down 49.2% YTD
   • focused on the use of ketamine, DMT and ibogaine.  Go here for much more extensive information on Ketamine and here for much more extensive information on DMT.
3. Mind Medicine (MNMD): down 13.4% last week; up 65.6% YTD
   • is primarily focused on the use of LSD and MNMA. Go here for much more extensive information on LSD and  here for much more extensive information on MNMA.
4. Compass Pathways (CMPS): down 16.5% last week; up 0.6% YTD
   • focused on the use of psilocybin (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
5. Incannex Healthcare (IXHL): down 19.9% last week; down 59.6% YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
6. Seelos (SEEL): down 82.6% last week; down 75.4% YTD
   • focused on the use of ketamine. Go here for much more extensive information on Ketamine.
     • Seelos reported last week that its Phase 2 trial of SLS-002 as a treatment for Acute Suicidal Ideation and Behavior in adults with Major Depressive Disorder failed to meet its primary endpoint because the sample size was too small for a full evaluation. That caused shares of SEEL stock to take a major beating.

Summary

As mentioned in the introduction, our munKNEE Psychedelic Drug Stocks Index was down 4.5% last week and is now down 5.2% YTD.

If you are interested in this category, consider the  AdvisorShares Psychedelic ETF (PSIL) of 23 such stocks, of which the majority have market capitalizations of less than $50M. It was down 11.4% last week and is now down 17.% YTD.

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