TM Editors Note: This article discusses penny stocks and/or microcaps; do your own careful due diligence as such stocks are readily manipulated.

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 11 of them in the munKNEE Psychedelic Stocks Index and makes mention of the remaining 20 as well.

Index Inclusion Criteria

The 11 stocks eligible for inclusion in the index are based on the following criteria:

• a market capitalization between US$10M and US$75M
• a stock that trades between US$0.10/share and US$1/share

Below is a brief introduction to each of the 11 eligible companies in the munKNEE Psychedelic Stocks Index and their performance for the week ended December 4th. 

1. Jaguar (JAGX) +61.9% vs. N/C the week before
2. Hollister (HSTRF) +33.3% vs. N/C the week before 
3. Silo Pharma (SILO) +16.2% vs. +5.7% the week before
4. Nova Mentis (LIBFF) +13.6% vs. +15.8% the week before
5. Numinus (LKYSF) +10.9% vs. N/C the week before  
6. Mind Cure (MCURF) +8.0% vs. +19.0% the week before
7. Revive (RVVTF) N/C vs. +43.8% the week before
8. Havn (HAVLF) N/C vs. -6.3% the week before
9. Seelos (SEEL) -1.9% vs. +30.4% the week before
10. Mydecine (MYCOF) -4.3% vs. +21.1% the week before
11. Champignon (SHRMF) -6.1% vs. N/C the week before 

The average performance of the above 11 psychedelic drug stocks last week was 11.8% vs. 11.3% the previous week. 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 up 5.3% for the week.

About Each Constituent

1. Mydecine Innovations Group Inc. (MYCOF):

• produces, transfers, sells and exports pharmaceutical-grade psilocybin from whole mushroom extraction.
• conducting clinical trials into the efficacy of psilocybin in treating PTSD in collaboration with the Dutch Royal Army,  
• For more information on the company visit its website here.

2. Numinus Wellness Inc. (LKYSF):

• combines clinical operations with psychedelic drug R&D and cultivation of Psilocybe mushrooms, for the purpose of extracting psilocybin from them.  
• For more information on the company visit its website here.

3. Silo Pharma Inc. (SILO):

• focused on providing psychedelic therapeutics to patients suffering from end-of-life anxiety, Alzheimer's, depression, addiction, PTSD, and obsessive-compulsive disorder.
• For more information on the company visit its website here.

4. Revive Therapeutics Ltd. (RVVTF):

• entered a Phase 1 clinical trial in August with the University of Wisconsin System to study the safety and feasibility of psilocybin in adults with Methamphetamine Use Disorder.  
• For more information on the company visit its website here.

5. HAVN Life Sciences Inc. (HAVLF):

• engaged in the research and development of psychopharmacological products, including the formulation of standardized psychoactive compounds derived from fungi.  
• For more information on the company visit its website here.

6. Champignon Brands Inc. (SHRMF):

• Champignon is focused on treatments for depression through the development of ketamine compounds and a network of ketamine-based treatment clinics.
• For more information on the company visit its website here.

7. Hollister Biosciences Inc. (HSTRF):

• acquired AlphaMind Brands for C$1.2M to gain exposure to the psychedelic arena and as a complement to its cannabis brand.
• For more information on the company visit its website here.

8. Jaguar Health Inc. (JAGX):

• launched a mental health Entheogen Therapeutics Initiative with the goal to discover novel psychoactive plant-based compounds that treat mood disorders, addiction, neurodegenerative diseases, and more.
• For more information on the company visit its website here.

9. Nova Mentis Life Science Corp. (LIBFF):

• developing medicinal psychedelics for neuro-inflammatory conditions with a significant cognitive component and high unmet therapeutic needs with an initial focus is on Autism Spectrum Disorder.
• For more information on the company visit its website here.

10. Seelos Therapeutics Inc. (SEEL):

• completed Phase I of its study of intra-nasal racemic ketamine (SLS-002) as a rapid, effective treatment for refractory depression and suicidality and is beginning a double-blind, placebo-controlled Proof of Concept study for Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder this fall.
• For more information on the company visit its website here.

11. Mind Cure Health Inc. (MCURF):

• developing products from the 12 species of edible ("functional") mushrooms that are recognized as promoting brain health - and represent a multi-billion market in their own right - and this market, unlike psychedelic drugs is open for business today. Given that it could take +10 years, and potentially +$100M, to bring a new psychedelic drug to market, this avenue will allow Mind Cure to offset some of the R&D costs associated with psychedelics research with near-term revenue streams from functional mushrooms. 
• For more information on the company visit its website here.

NOTE: The 3 largest psychedelic drug stocks in the sector are not included in the Index because they either trade in excess of $1/share and/or have a market cap in excess of $75M as their inclusions would make a comparative analysis and Index averages meaningless. Their performances last week and a description of their business objectives are as follows:

1. Compass (CMPS) +3.3% vs. +40.3% the week before (Mkt. Cap: $1.3B)
   • COMPASS has a psilocybin-based therapy for treatment-resistant depression in Phase 2 of clinical trials. 
   • For more information on the company visit its website here.
2. MindMed (MMEDF) +10.5% vs. +36.8%  the week before (Mkt. Cap: $273.5M)
   • MindMed has three drug initiatives that use psychedelic mushrooms already in Phase 2 with several other initiatives in Phase 1 trials. For more information on the company visit its website here.
3. Field Trip (FTRPF) -9.9% vs. +3.0% the week before (Mkt. Cap: $84.1M)
   • Field Trip is conducting advanced research on plant-based psychedelics such as ketamine as a treatment option for PTSD. For more information on the company visit its website here.

The other 17 stocks trading in the psychedelic drug sector that are not eligible for inclusion in the munKNEE Psychedelic Stocks Index are as follows:

• 15 psychedelic drug stocks are not included in the Index because they either trade at less than $0.10/share and/or have a market cap of less than $10M, namely: Better Plant (VEGGF), Codebase (BKLLF), Ehave (EHVVF), Graph Blockchain (REGRF), Lobe Sciences (LOBE),   Minerco (MINE), New Wave (TRMNF), Red Light (TRUFF), Thoughtful Brands (PEMTF), Cybin (CYBN), Entheon (ENBI), Core One (COOL), Psyched Wellness (PSYC), Newscope-PharmaTher (PHRM) and Nutritional High (SPLIF).
• the other 2 psychedelic drug stocks in the sector are not included in the Index because they trade exclusively on the Canadian Securities Exchange (CSE) in Canadian dollars in addition to being extremely small in market capitalization and trading for less than the equivalent of US$1/share, namely: Aion (AION) 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.