Only 8 stocks meet the criteria¹ to be included in the munKNEE Psychedelic Drug Stocks Index and they continued to drop, DOWN 5.8%, on average, last week and are DOWN 34.2% in the past 6 months and are now DOWN a whopping 64.9% YTD.

Each stock's latest quarterly financial report shows a company with a negative net operating cash flow, negative EBITDA, and no stock showing any improvement in those metrics (source).

To help you arrive at which, if any, of the constituents in the Index are best suited to buck the trend their performances are highlighted below, in descending order for the past week, and for the past 6 months and year-to-date. In addition, the extent to which each company is likely to encounter financial stress and/or bankruptcy in the next 2 years compared to its peers according to their Altman Z-Scores (as sourced from macroaxis.com) are also provided.

1. Atai (ATAI): UP 0.3% last week, is DOWN 29.8% in the last 6 months, is DOWN 60.6% YTD
   • Is focused on acquiring and developing treatments that lead to paradigm shifts in the mental health space.
   • has a 53% chance of encountering financial stress in the next 2 years.
2. Seelos (SEEL): No Change last week, is UP 41.9% in the last 6 months, is DOWN 46.0% YTD
   • Is focused on developing products for the treatment of Central Nervous System disorders and other rare disorders.
   • has a 56% chance of encountering financial stress in the next 2 years.
3. Zynerba (ZYNE): DOWN 1.4% last week, is DOWN 49.6% in the last 6 months, is DOWN 75.3% YTD
   • Is focused on developing and commercializing synthetic cannabinoid therapeutics formulated for transdermal delivery.
   • has less than a 2% chance of encountering financial stress in the next 2 years.
4. Cybin (CYBN): DOWN 2.1% last week, is DOWN 20.7% in the last 6 months, is DOWN 61.7% YTD
   • Is focused on utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches, and treatment regimens for psychiatric disorders.
   • has a 77% chance of encountering financial stress in the next 2 years.
5. GH Research (GHRS): DOWN 8.5% last week, is DOWN 33.3% in the last 6 months, is DOWN 58.2% YTD
   • Is focused on developing 5-MeO-DMT therapies for the treatment of patients with Treatment-Resistant Depression.
   • has a 77% chance of encountering financial stress in the next 2 years.
6. Compass Pathways (CMPS): DOWN 9.0% last week, is DOWN 10.4% in the last 6 months, is DOWN 54.8% YTD
   • Is focused on the development of psilocybin therapy for people with Treatment-Resistant Depression.
   • has a 28% chance of encountering financial stress in the next 2 years.
7. Mind Medicine (MNMD): DOWN 11.9% last week, is DOWN 77.8% in the last 6 months, is DOWN 87.1% YTD
   • Is focused on discovering, developing, and deploying therapies to address addiction and mental illness development.
   • Underwent a 1-for-15 reverse stock exchange on August 29th.
   • has a % chance of encountering financial stress in the next 2 years.
8. Allied Corp. (ALID):  DOWN 16.0% last week, is DOWN 42.5% in the last 6 months, is DOWN 76.3% YTD 
   • Has a product in a Phase I clinical trial in Columbia for treating post-traumatic stress disorder.
   • has a 39% chance of encountering financial stress in the next 2 years.

In total, the munKNEE Psychedelic Drug Stock Index went DOWN 5.8% last week, is DOWN 34.2% in the last 6 months and is now DOWN 64.9% YTD.

Six other psychedelic companies are primarily focused on the development, expansion, and operation of ketamine-assisted therapy (KAT) 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:

1. Awakn Life Sciences Corp.  (NEO: AWAKN|OTCQB: AWKNF)
   • Is concentrating on the treatment of Alcohol Use Disorder (AUM)
     • has 3 KAT clinics, 2 in the U.K. and 1 in Norway and
     • is developing MDMA-assisted therapy for AUM
   •  Is also in the process of developing KAT for Gambling Disorder
   • Go here for the company's latest quarterly (Q2) financial results
2. Delic Corp. (CSE: DELC|OTCQB: DELCF)
   • Has 13 ketamine-assisted therapy (KAT) clinics in the U.S.
3. 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)
4. Numinus Wellness Inc. (TSX: NUMI|OTCQX: NUMIF)
   • has 3 KAT clinics in Canada;
   • has the ability to undertake treatments using psilocybin and MDMA in Canada as authorized by Health Canada's Special Access Program
   • Has 6 KAT clinics in Utah and 2 in Arizona
5. Revitalist Lifestyle and Wellness Ltd. (CSE: CALM|OTCQB: RVLWF)
   • Has 10 KAT clinics in 6 states and 9 options on other clinics
6. 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

The above psychedelic-assisted therapy clinic stocks went DOWN 6.2%, on average, last week.

¹The 8 stocks in the munKNEE Psychedelic Drug Stock Index consist of 7 companies with market caps in excess of $50M (Zynerba is less) which trade on Canadian and/or American stock exchanges.

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