This article updates the performances of the 16 largest capitalized clinical-stage psychedelic and marijuana drug companies researching the treatment of a wide variety of mental illnesses,  out of a total of 100 such companies. 

Forty of those 100 companies are basing their research on the use of THC marijuana while the other 60 (see here) are basing their research on the use of one or more of 10 different psychedelic substances (read 10 Psychedelic Substances And The 36 Companies Researching Them).

The munKNEE Pure-Play Marijuana & Psychedelic Compounds-Based Drug Stocks Index consists of 16 marijuana and psychedelic drug stocks that have market capitalizations in excess of $35M. Five (5) of them are in the Pure-Play Marijuana Drug Stocks Index sub-category and 11 are in the Pure-Play Psychedelic Compounds-Based Drug Stocks Index.

The Pure-Play Marijuana Drug Stocks Index

The constituents in both our Pure-Play Marijuana Drug Stocks Index and our Pure-Play Psychedelic Compounds-Based Drug Stocks Index have hyperlinks to 4 areas of additional information which are imperative for any individual considering investing in this sector:

1. The company name is hyperlinked to its website to provide you with a description of the company and an analysis of its stock.
2. The trading symbol is hyperlinked to additional financial data and commentary on the company (where available).
3. The percentage increase YTD is hyperlinked to a chart of the company's stock performance YTD.
4. The "financial distress" percentage is sourced from macroaxis.com.

The 5 marijuana-based clinical-stage stocks are DOWN -12.3% so far in January and their performances are presented below in descending order:

1. Tetra Bio-Pharma (TBPMF): Market Cap. of $39M; UP +/-0% YTD
   • The Company is focused on developing cannabinoid-derived medicines for the treatment of:
     • inflammation (Cytokine Release Syndrome),
     • cancer pain (Qixleef and Caumz which are in Phase 2),
     • ophthalmology (Proliferative Vitreoretinopathy and Uveitis which has an Orphan Drug Designation), and
     • oncology (Cancer Cachexia which is in Phase 2 and  Hepatocellular Carcinoma which has an Orphan Drug Designation).
   • According to macroaxis TBPMF has about a 33% probability of financial distress in the next few years of operation  
2. Allied Corp. (ALID): Market Cap. of $161M; DOWN -0.6% YTD
   • The company is researching, creating, and producing targeted cannabinoid health solutions to help people suffering from:
     • Post-Traumatic Stress Disorder (PTSD), anxiety, and depression in addition to growing and processing the cannabis plant itself and developing a line of therapeutic CBD-based products.
   • has about a 24% chance of experiencing some form of financial distress in the next two years of operation
3. Revive Therapeutics (RVVTF): Market Cap. of $80M; DOWN -7.4% YTD
   • The company has been granted two Orphan Drug Designations by the FDA for the use of CBD:
     • in the treatment of: Autoimmune Hepatitis, and
     • in the prevention of Ischemia and Reperfusion Injury resulting from solid organ transplantation, such as liver, kidney, heart, and lungs.
   • has less than a 3% chance of experiencing financial distress in the next few years
4. Zynerba Pharmaceuticals (ZYNE): Market Cap. of $37M;DOWN  -17.7% YTD
   • The company hopes to provide new treatment options for patients battling certain rare neuro-psychiatric diseases (those affecting fewer than 200K patients in the U.S.) and near-rare neuropsychiatric conditions (i.e. those affecting fewer than one million patients).
   • Its clinical pipeline consists of research into:
     • Fragile X Syndrome (FXS);
     • 22q Deletion Syndrome (22q);
     • Autism Spectrum Disorder (ASD) and
     • a heterogeneous group of rare and ultra-rare epilepsies known as Developmental & Epileptic Encephalopathies (DEE) and
     • Autoimmune conditions such as Crohn's Disease, IBS, and Eczema.
   •  has 53% odds of going through some form of financial distress in the next two years
5. Corbus Pharmaceuticals (CRBP): Market Cap. of $58M; DOWN -24.2% YTD
   • The company's lead product candidate, lenabasum, is a novel, synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes such as:
     • Dermatomyositis (in Phase 3) and
     • Systemic Lupus Erythematosus (in Phase 2).
   • has a +93% chance of experiencing financial distress in the next few years of operation

The Pure-Play Psychedelic Compounds-Based Drug Stocks Index

The 11 psychedelic compound-based clinical-stage stocks are divided into 2 groups based on their market capitalizations: $40M>$499.9M (Group 1) and $500M+ (Group 2). The Group 2 stocks are not included in the munKNEE Pure-Play Marijuana & Psychedelic Compounds-Based Drug Stocks Index because of their large market capitalizations but are detailed below to give the reader a broader picture of this market segment.

The 7 constituents in Group 1 have gone DOWN -17.1% so far in January and their performances are presented below in descending order:

1. Numinus (NUMIF): Market Cap. of $102M; UP +19.0% YTD 
   • provides clients with testing of controlled compounds such as LSD, ketamine, DMT, MDMA, mescaline, psilocybin and psilocin as well as conducting research of both MDMA and psilocybin to treat PTSD, depression, anxiety, and addiction.
   • has over a 28% chance of experiencing financial distress in the next few years of operation
2. Red Light (TRUFF): Market Cap. of $42M; UP +9.1% YTD
   • plans to produce, market, and distribute a premium health and wellness brand of psilocybin truffles within the Netherlands.
   • has about a 28% chance of experiencing financial distress in the next few years of operation.
3. Awakn (AWKNF): Market Cap. of $46M; DOWN -9.3% YTD
   • engaged in researching and developing psychedelic drugs focuses to treat addiction as well as delivering psychedelic treatments for addiction in clinics in the UK and EU.
   • has a 28% chance of experiencing financial distress in the next 2 years of operation.
   • Read: Awakn Life Sciences: Wake Up To The Huge Potential
4. Cybin (CYBN): Market Cap. of $165M; DOWN -15.0% YTD
   • focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
   • has over a 62% chance of experiencing financial distress in the next few years of operation.
5. Small Pharma (DMTTF): Market Cap. of $62M; DOWN -24.0%
   • focused on developing N,N-dimethyltryptamine and a pipeline of novel patent-protected deuterium-enriched tryptamine compounds in combination with psychotherapy as potential rapid onset, sustained treatments for depression and other mental health disorders.
   • has over a 77% chance of experiencing some form of financial distress in the next two years of operation
6. Field Trip (FTRP): Market Cap. of $108M; DOWN -24.4%
   • focused on building centers for psychedelic therapies across North America and Europe.
   • has about a 43% chance of experiencing some form of financial distress in the next two years of operation.
7. Seelos (SEEL): Market Cap. of $125M; DOWN -27.6%
   • focused on developing products that address significant unmet needs in the Central Nervous System disorders and other rare disorders.
   • has over a 77% chance of experiencing financial distress in the next few years of operation.

The 4 constituents with market caps above $400M (Group 2) have gone DOWN -28.1% so far in January. Their performances are presented below in descending order:

1. GH Resources (GHRS): Market Cap. of $894M; DOWN -26.3% YTD
   • about 54% chance of experiencing financial distress in the next two years of operation.
2. Compass Pathways (CMPS): Market Cap. of $658M; DOWN -28.6% YTD
   • about 62% chance of experiencing financial distress in the next few years of operation.
3. Atai (ATAI): Market Cap. of $843M; DOWN -31.1% YTD
   • above 56% chance of experiencing financial distress in the next few years of operation.
4. Mind Medicine (MNMD): Market Cap. of $393M; DOWN -32.6% YTD
   • above 58% chance of experiencing financial distress in the next few years of operation.

In summary, the  munKNEE Pure-Play Marijuana & Psychedelic Compounds-Based Drug Stocks Index has gone DOWN -25.5% YTD and is now DOWN -67.5% from its 52-week high.

(For some insight into 12 clinical-stage companies researching the treatment of a variety of mental illnesses based on the use of "magic mushrooms" (psilocybin), "magic" psilocybin truffles, ketamine, DMT, Ibogaine, LSD, MDMA, 5-MeO-DMT, and mescaline you are encouraged to read Psychedelic Stocks: Which Have The Greatest Potential?)

Conclusion

Given the sector's 25% decline so far this month perhaps it would be a good idea to wait for a change in the trend before investing in this sector but the above information should be helpful in preparing a short list for consideration when things improve.