Psychedelic Stocks Keep Going Higher: Up 29% Last Week

psychedelic stocks

The 8 stocks in the munKNEE Psychedelic Compounds-Based Drug Stocks Index are those that have market caps in excess of $50M and they were up 23% in July and went up a further 29% this past week. That being said, the Index is still down 33% YTD.

There are 107 clinical-stage psychedelic drug stocks trading on North American stock exchanges (see here) of which 67 research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances (see here) and 40 research the treatment of illnesses based on the use of THC marijuana. They performed as follows last week with their performances since the end of June in brackets:

  1. GH Research (GHRS): UP 41.6% this past week (UP 58.3% since the end of June)
    • focused on developing novel and proprietary 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.
  2. Compass Pathways (CMPS): UP 28.7% this past week (UP 85.5% since the end of June)
    • 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.
  3. Cybin (CYBN): UP 22.0% this past week (UP 28.6% since the end of June) 
    • focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
  4. Seelos (SEEL): UP 19.0% this past week (UP 47.1% since the end of June)
    • focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
  5. Atai (ATAI): UP 13.5% this past week (UP 20.3% since the end of June)
    • focused on acquiring and efficiently developing innovative treatments that address significant unmet medical needs and lead to paradigm shifts in the mental health space.
  6. Zynerba (ZYNE): UP 7.0% this past week (UP 7.0% since the end of June)
    • focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery.
  7. Allied Corp. (ALID): DOWN 5.5% this past week (UP 8.3% since the end of June)
    • 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.
  8. Mind Medicine (MNMD): DOWN 10.1% this past week (DOWN 3.1% since the end of June)
    • focused on discovering, developing, and deploying the next generation of psychedelic-inspired medicines and therapies to address addiction and mental illness development.

In total, the munKNEE Psychedelic Compounds-Based Drug Stocks Index went UP 28.8% this past week and is UP 58.7% since the end of June.

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Andrew Armstrong 1 month ago Member's comment
These are some good picks.