Psychedelic Stocks Continue To Plummet: -16% This Week; -33% MTD; Now -57% YTD

psychedelic stocks

The 8 stocks in the munKNEE Psychedelic Compounds-Based Drug Stocks Index are all psychedelic stocks that have market caps in excess of $50M. Here is how its constituents performed this past week, in descending order, MTD, and YTD:

  1. Allied Corp. (ALID): DOWN 6.7% this past week; UP 30.2% MTD; DOWN 68.4% YTD
    • Is focused on 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.
  2. Cybin (CYBN): DOWN 11.3% this past week; DOWN 48.1% MTD; DOWN 54.2% YTD
    • Is focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
  3. GH Research (GHRS): DOWN 13.6% this past week; DOWN 29.5% MTD; DOWN 52.0% YTD
    • Is focused on developing novel and proprietary 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.
  4. Compass Pathways (CMPS): DOWN 13.9% this past week; DOWN 29.6% MTD; DOWN 46.6% YTD
    • Is focused on the development of a new model of psilocybin therapy for people with treatment-resistant depression, in which psilocybin is administered in conjunction with psychological support.
  5. Seelos (SEEL): DOWN 14.9% this past week; UP 22.6% MTD; DOWN 36.8% YTD
    • Is focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
  6. Atai (ATAI): DOWN 16.6% this past week; DOWN 26.1% MTD; DOWN 54.4% YTD
    • Is focused on acquiring and efficiently developing innovative treatments that address significant unmet medical needs and lead to paradigm shifts in the mental health space.
  7. Zynerba (ZYNE): DOWN 20.2% this past week; DOWN 22.3% MTD; DOWN 69.8% YTD
    • Is focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery.
  8. Mind Medicine (MNMD): DOWN 23.8% this past week; DOWN 50.0% MTD; DOWN 72.3% YTD
    • Is focused on discovering, developing, and deploying the next generation of psychedelic-inspired medicines and therapies to address addiction and mental illness development.
    • Underwent a 1-for-15 reverse stock exchange on August 29th.

In total, the munKNEE Psychedelic Compounds-Based Drug Stock Index went DOWN 15.9% this past week (DOWN 10.0% the week before that), DOWN 33.0% MTD and is now DOWN 57.0% YTD.

Six other psychedelic companies are primarily focused on the development, expansion and operation of therapy clinics to capitalize on the massive commercial opportunity that exists to treat the two billion people worldwide who suffer from chronic pain, addiction and substance abuse withdrawal, and depression. They are identified below with a description of each of their commercialization developments and market capitalizations:

  1. Universal Ibogaine Inc. (TSXV: IBO|OTCQB: IBOGF)
    • Is concentrating on the treatment of Opioid Use Disorder using ibogaine which has a “Prescription Drug List” status in Canada (vs. Schedule 1 in the US) facilitating research and development toward medicalization;
    • Has acquired the revenue-generating Kelburn Addiction Recovery Center practice in Winnipeg, Manitoba, Canada, with the intention of developing a state-of-the-art comprehensive and holistic addiction management care model which will be rolled out to future Universal Ibogaine clinics in Canada, the U.S. and internationally, and to be further monetized by offering training and franchising;
    • Has a market capitalization of C$6.7M.
  2. Delic Corp. (CSE: DELC|OTCQB: DELCF)
    • Has 13 ketamine-assisted therapy (KAT) clinics in the U.S.; 
    • Has a market capitalization of C$5M.
  3. Awakn Life Sciences Corp.  (NEO: AWAKN|OTCQB: AWKNF)
    • Is concentrating on the treatment of Alcohol Use Disorder; 
    • Has 3 KAT clinics, 2 in the U.K. and 1 in Norway;
    • Expects:
      • to open 2 more clinics in Manchester and Dublin in 2023;
      • to have 20 clinics in operation by 2024
      • to generate more than $100M in revenue by 2024;
    • Has a market capitalization of $15M.
    • Go here for the company's latest quarterly (Q2) financial results.
  4. Field Trip Health and Wellness Ltd. (TSXV:FTHW|OTCQB: FTHWF)
    • Is concentrating on therapies for the treatment of resistant depression, post-traumatic stress disorder and disorders affecting the central nervous systems;
    • Operates KAT clinics in Canada (3), the U.S. (8) and Europe (1);
    • Has a market capitalization of $15M.
  5. Numinus Wellness Inc. (TSX: NUMI|OTCQX: NUMIF)
    • has 3 KAT clinics in Canada (Vancouver, Montreal, and Toronto) and has the ability to undertake treatments using psilocybin and MDMA as authorized by a Special Access Program regulated by Health Canada that allows people to access certain medications that are not yet authorized or available to the general public;
    • Has 6 KAT clinics in Utah and 2 in Arizona;
    • Has a market capitalization of $57M
  6. Revitalist Lifestyle and Wellness Ltd. (CSE: CALM|OTCQB: RVLWF)
    • Has 10 KAT clinics in 6 states and 9 options on other clinics;
    • Has a market capitalization of $2.5M.

The  above psychedelic-assisted therapy clinic stocks went DOWN 13.7%, on average, last week (DOWN 10.4% the week before that) and is now DOWN 24.1% MTD.

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