31 biopharmaceutical companies are now involved in the research and development of psychedelic compounds to treat mental health issues such as obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, depression, anxiety, and eating disorders. This article tracks the performance of 15 of them in the munKNEE Psychedelic Stocks Index and makes mention of the remaining 16 as well. [TM Editors Note: This article discusses penny stocks and/or microcaps. Such stocks are easily manipulated; do your own careful due diligence.]

Index Inclusion Criteria

The 15 stocks eligible for inclusion in the index (up from the original 11 given the recent increases in market cap and stock price) are based on the following criteria:

• a market capitalization between US$10M and US$200M
• a stock that trades between US$0.10/share and US$2/share

Below are the 15 eligible companies in the munKNEE Psychedelic Stocks Index and their performance for the week ended December 11th. The previous week's performance is in brackets.

1. Red Light (TRUFF) +111.1%  (-10.0%)
2. Numinus (LKYSF) +86.9% (+10.9%)
3. Better Plant (VEGGF) +83.3% (+20%) 
4. Revive (RVVTF) +78.2% (N/C)
5. Champignon (SHRMF) +76.1%  (-6.1%)
6. Mydecine (MYCOF) +63.6% (-4.3%)
7. Hollister (HSTRF) +41.7% (+33.3%) 
8. Cybin (CLXPF) +34.7% (+50.8%)
9. Mind Cure (MCURF) +29.6% (+8.0%) 
10. Psyched Wellness (DCNPF) +28.6% (+10.5%)
11. Havn (HAVLF) +22.2% (N/C)
12. Seelos (SEEL) +7.9% (-1.9%)
13. Jaguar (JAGX) No Change (+61.9%)
14. Silo Pharma (SILO) No Change (+16.2%)
15. Nova Mentis (LIBFF) No Change (+13.6%)

The average performance of the above 15 psychedelic drug stocks last week was +35.3% (see article here). Interestingly, in comparison, the munKNEE Pure-Play Pot Stock Index of the 25 pure-play cannabis stocks that trade in excess of US$1/share was -4.1% for the week ending December 11th. To avoid duplication please refer to last weeks article (see here) in which I provided introductory articles on each of the index constituents.

NOTE: The 3 largest psychedelic drug stocks in the sector are not included in the Index because they either trade in excess of $2/share and/or have a market cap in excess of $200M as their inclusions would make a comparative analysis and Index averages meaningless. For the record, below are their performances this past week with a reference to their performance the week before that (in brackets), as follows:

1. MindMed (MMEDF) +90.5% (10.5%)
2. Field Trip (FTRPF) +29.9% (-9.9%)
3. Compass (CMPS) +18.1% (+3.3%)

The remaining 13 stocks in the fledgling, yet burgeoning, sector are not eligible for inclusion in the munKNEE Psychedelic Stocks Index but are worth watching closely (see the previous article on the subject here) with the sector starting to gain considerable traction. They are as follows:

• Aion (AION), Codebase (BKLLF), Ehave (EHVVF), Graph Blockchain (REGRF), Lobe Sciences (GTSIF),  Minerco (MINE), New Wave (TRMNF), Thoughtful Brands (PEMTF), Entheon (ENBI), Core One (CLABF), Newscope-PharmaTher (PHRM) and Nutritional High (SPLIF) and Pure Extracts (PULL).

Psilocybin Therapy Legalization

Psilocybin therapy has been approved in the state of Oregon making it the first U.S. state to legalize a form of psychedelic-assisted therapy.