Psychedelic Drug Stocks Index Winners & Losers For January

There are 37 companies in the sector and they are divided into 3 categories: the 15 constituents in the munKNEE Pure-Play Psychedelic Drug Stocks Index, the 3 largest cap companies, 13 other smaller cap companies. Six marginal companies, as noted below, are excluded from the analysis..

Please Note: Every company name below has been hyperlinked to its corporate web site 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 many 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.

The 15 constituent munKNEE Pure-Play Psychedelic Drug Stocks Index was up 27% in January. If Jaguar's out-sized increase of +248% was excluded from the comparison then the Index only went up by 8.3%.

The biggest winners in January were, in descending order, as follows:

  1. Jaguar Health (JAGX) +248% to $2.82/share
    • announced that its subsidiary, Napo EU, is being established in Italy as a special purpose acquisition company (SPAC) with a group of multinational institutional investors expressing an interest in up to 70% of the proposed offering, adding that it is likely to accept funds for the listed SPAC from next week.
    • announced that its stock price momentum has increased interest in the company from institutional investors with Oasis Capital reporting that a 9.99% stake in the company.
  2. Red Light Holland (TRUFF+58% to $0.38/share 
    • announced that it was planning to expand distribution of its recreational grade psychedelic Magic Truffles beyond its current legal adult-use market in the Netherlands as legislation around the world changes allowing for use of such products.
    • announced that its bought deal financing with Eight Capital had been upsized to C$8.5 million.
  3. Seelos Therapeutics (SEEL+37to $2.16/share
    • announced that it has been selected as one of 17 companies included in the world's first psychedelic Exchange Traded Fund (ETF) which begins trading today on Canada's NEO exchange under the symbol PSYK.
    • announced today that it has been granted a patent from the Japanese and Australian Patent Offices covering Trehalose (SLS-005) for the treatment of protein aggregation myopathic and neuro-degenerative diseases by parenteral administration.
    • announced that the closing of its previously announced underwritten public offering of 17,530,488 shares of its common stock, at a price to the public of $2.05 per share, which is expected to generate net proceeds to Seelos of approximately $33.5 million.
  4. Psyched Wellness (PSYCF) +32% to $0.29/share
    • announced that it had received approval to commence trading in the U.S. markets via the OTCQB under the new ticker symbol PSYCF (formerly DCNPF).
    • announced that it has been selected as one of 17 companies included in the world's first psychedelic Exchange Traded Fund (ETF) which begins trading today on Canada's NEO exchange under the symbol PSYCF.
    • announced that it had increased the size of its previously announced bought deal private placement with Canaccord Genuity Corp. for its purchase of an aggregate of ~17.75M units at a price of C$0.31 per unit for gross proceeds of ~C$5.5M which will be used to fully fund the pre-clinical trials of its Amanita Muscaria extract (AME-1) and to continue its scientific research of AME-1 and its potential benefits for people suffering from serious mental and physical health issues and for general corporate purposes.
  5. PharmaTher  (CSE: PHRM; OTCQB: PHRRF) +29% to C$0.31/share
    • announced that it has been selected as one of 17 companies included in the world's first psychedelic Exchange Traded Fund (ETF) which begins trading today on Canada's NEO exchange under the symbol PHRRF.
    •  announced it has entered into a sponsored research agreement and an exclusive option to license agreement with North Carolina State University (NC State) to develop a novel biosynthetic version of psilocybin based on a natural biosynthesis enzymatic platform developed by Dr. Gavin Williams, Professor and Researcher at NC State.
    • announced that it has entered into an exclusive worldwide license agreement with the National Health Research Institutes for the development and commercialization of a patented combination formulation of FDA-approved ketamine and betaine (KETABET™) as a potential next-generation ketamine treatment for mental health, neurological, and pain disorders.
  6. Numinus Wellness (LKYSF+20% to $1.01/share
    • announced that it has listed its warrants for trading on the TSXV under the symbol NUMI.WS which entitles the holder thereof to acquire one common share of the Company at an exercise price of $0.90 until December 29, 2022.

The remaining 9 constituents were less active in January performing, in descending order, as follows:

Mydecine Innovations (MYCOF) +17% to $0.41/share; Cybin (CLXPF) +10% to $1.85/share; Champignon Brands (SHRMF) -3% to $0.60/share; Mindset Pharma (MSET) -5% to C$0.89/share; Havn Life  (HAVLF) -8% to $0.71/share; Revive Therapeutics (RVVTF) -8% to $0.44/share; Mind Cure Health (MCURF) -12% to $0.50/share; Silo Pharma (SILO-16.7% to $0.35/share and Tryp Therapeutics (TRYP) -19% to C$0.61/share.

3 Larger Capitalized Psychedelic Drug Stocks

Field Trip Health (FTRPF) +14% to $3.71/share; Mind Medicine (MMEDF) -3% to $2.95/share and Compass Pathways (CMPS) -8% to $43.83/share.

13 Nano-Cap Psychedelic Drug Stocks

The 3 biggest winners during the month of January were as follows: Ehave (EHVVF+42% @ $0.17/share; Novamind (NM) +14% to C$1.42/share and Core One Labs  (CLABF) +13% to $0.79/share.

The remaining 10 stocks were less active and did not performed that well in January, namely: New Wave Holdings  (TRMNF) N/C @ $0.08/share; Pure Extracts Technologies (PRXTF) N/C @ to $0.51/share; Entheon Biomedical (ENTBF) -4% to $0.70/share; Nova Mentis Life Science (LIBFF) -5.9% to $0.16/share; Aion Therapeutic  (AION) -8.3% @ C$0.11/share; Lobe Sciences (GTSIF-20% to $0.08/share and Better Plant Sciences (VEGGF) -31% to $0.09/share. M2Bio Sciences (WUHN), NeonMind Biosciences (NEON) and Psyence Therapeutics (PSYG) were not trading a month ago so their performances are not applicable. They closed on Friday at $0.40/share, C$0.27/share and C$0.50/share, respectively. Their performances will be addressed in next months recap.

The above 13 psychedelic stocks went up 25.9%, on average, in January.

Legend: Nano-Cap: Market Cap of $50M or less; N/C: No Change

For the record, 6 marginal psychedelic drug stocks are excluded from the above analysis as they are thinly traded and/or do not devote 100% of their efforts to the research and development of drugs based on psychedelic components. The 6 companies are: Graph Blockchain (REGRF), Minerco (MINE), Thoughtful Brands (PEMTF), Nutritional High (SPLIF), Codebase (BKLLF) and Hollister (HSTRF).

Disclosure: I am a major proponent of this fledgling but burgeoning market sector and may from time to time buy or sell stocks in this sector.

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