Psychedelic Stocks Index Popped 8% Last Week, Led By Incannex

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The 5 constituents in the munKNEE Psychedelic Compound-Based Drug Stocks Index jumped 8.1%, on average, last week.  The best week was had by Incannex Healthcare's 47.2% increase based on the successful completion of a pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA) regarding the development of CannQuit-N for tobacco smoking cessation and control of relapse driving the Index up 23.3% YTD.

Below is how each constituent stock performed last week, in descending order, and YTD, plus any recent news, commentary, and/or analysis on each company:

1. Incannex Healthcare (IXHL): up 47.2% last week; Unchanged YTD
   • is researching and developing therapies and products with the world's largest portfolio of medicinal cannabinoid and psychedelic pharmaceutical products.
   • Latest News, Commentary and/or Analysis:
     • Incannex Completes Successful Pre-IND Meeting with the FDA for CannQuit-N; a Novel Solution for Tobacco Smoking Cessation
2. Mind Medicine (MNMD): up 11.6% last week; up 34.4% 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.
   • Latest News, Commentary and/or Analysis: None
3. Atai Life Sciences (ATAI): up 3.0% last week; up 30.5% YTD
   • is 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.
   • Latest News, Commentary and/or Analysis: None
4. Compass Pathways (CMPS): up 1.8% last week; up 20.1% YTD
   • is focused on the use of psilocybin (magic mushrooms) in their research. Go here for much more extensive information on Psilocybin.
   • Latest News, Commentary and/or Analysis:
     • Compass Pathways to Collaborate With Hackensack Meridian Health to Develop Investigational COMP360 Psilocybin Treatment, if FDA-approved
5. GH Research (GHRS): down 0.6% last week; up 37.9% 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.
   • Latest News, Commentary and/or Analysis:
     • GH Research Has Been Granted an European Patent Covering all Mebufotenin Products For the Treatment of Major Depressive Disorder and Treatment-Resistant Depression
       
        

Summary

The munKNEE Psychedelic Drug Stocks Index went up 8.1% last week and is now up 23.3% YTD.

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