Editors Note: This article discusses one or more penny stocks/microcaps. Such stocks are readily manipulated; do your own careful due diligence.

Sixty-four  (see here) of the 100 clinical-stage psychedelic drug stocks trading on North American stock exchanges research the treatment of a variety of mental illnesses based on the use of 10 different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them) and 40 of them research the treatment of illnesses based on the use of THC marijuana. That being said, however, only 8 of these clinical-stage research and development companies have market caps of $50M or more, and trade for US$0.50/share or more, and they are tracked in the munKNEE Psychedelic Compounds-Based Drug Stocks Index. Field Trip (FTRP) and Numinus (NUMIF) were the two stocks deleted from the Index.
 

Psychedelic Compounds-Based Drug Stocks Index

The constituent performances YTD (as of last Friday, June 27th) and from their peaks realized in 2021 are presented below in descending order:

1. Mind Medicine (MNMD): DOWN 49.3% YTD; DOWN 85.0% from its market high in 2021
   • focused on discovering, developing, and deploying the next generation of psychedelic-inspired medicines and therapies to address addiction and mental illness development.
     • Chance of Financial Distress in the next 2 years: +58%
     • Analyst Consensus: 8 stock analysts currently rate MNMD as a BUY.
2. Atai (ATAI): DOWN 50.3% YTD; DOWN 80.9% from its market high in 2021
   • focused on acquiring and efficiently developing innovative treatments that address significant unmet medical needs and lead to paradigm shifts in the mental health space.
     • Chance of Financial Distress in the next 2 years: +53%
     • Analyst Consensus: 19 stock analysts currently rate ATAI as a BUY.
3. Cybin (CYBN): DOWN 50.8% YTD; DOWN 81.4% from its market high in 2021 
   • focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
     • Chance of Financial Distress in next 2 years: +58%
     • Analyst Consensus: 14 stock analysts currently rate CYBN as a BUY.
4. Compass Pathways (CMPS): DOWN 51.4% YTD; DOWN 78.0% from its market high in 2021
   • 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.
     • Chance of Financial Distress in the next 2 years: 28%
     • Analyst Consensus: 17 stock analysts currently rate CMPS as a BUY.
5. GH Resources (GHRS): DOWN 52.9% YTD; DOWN 60.6% from its market high in 2021
   • focused on developing novel and proprietary 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.
     • Chance of Financial Distress in the next 2 years: +58%
     • Analyst Consensus: 10 stock analysts currently rate GHRS as a BUY.
6. Zynerba (ZYNE): DOWN 56.6% YTD; DOWN 85.7% from its market high in 2021 
   • focused on developing and commercializing proprietary next-generation synthetic cannabinoid therapeutics formulated for transdermal delivery.
     • Chance of Financial Distress in next 2 years: less than 2%
     • Analyst Consensus: 12 stock analysts currently rate ZYNE as a BUY.
7. Seelos (SEEL): DOWN 59.5% YTD; DOWN 89.6% from its market high in 2021
   • focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
     • Chance of Financial Distress in next 2 years:+66%
     • Analyst Consensus: 12 stock analysts currently rate SEEL as a BUY.
8. Allied Corp. (ALID): DOWN 68.4% YTD; DOWN 73.5% from its market high in 2021
   • 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
     • Chance of Financial Distress in next 2 years: 35%
     • Analyst Consensus: No analysts are following ALID

In total, the munKNEE Psychedelic Compounds-Based Drug Stocks Index is DOWN 52.7% YTD and DOWN 75.9% from its highest point in 2021.