The PsyIndex fell 0.16% last week on the whole, but there was significant volatility among individual components. Since September 17, the index has been on an upward trend started by COMPASS Pathways’ successful IPO.
|Weekly Performance: $95.17 (-0.16)|
Corporate News, Deals & Listings
- Field Trip Health Ltd. (CSE: FTRP) began trading on the CSE on October 6, 2020 under the ticker symbol FTRP. via CannabisFN
- Newscope Capital Corporation (CSE: PHRM) began trading on the CSE on October 9, 2020 under the ticker symbol PHRM. via CannabisFN
- MindMed Inc. partnered with NYU Langone Medical Center to launch a groundbreaking training program for psychedelic therapies and medicines. via CannabisFN
- GreenStar Biosciences Inc. launched a Science Advisory Board and appointed its first board member, Dr. Mark Geyer. via CannabisFN
- MindMed Inc. announced a $25 million bought deal public offering in conjunction with Canaccord Genuity Corp. via CannabisFN
- Tryp Therapeutics Inc. formed a Psilocybin Scientific Advisory Board for its Psilocybin For Neuropsychiatry program. via CannabisFN
- Havn Life Sciences Inc. appointed Vic Neufled as Chairman and Rick Brar as Vice Chairman of its Board of Directors. via CannabisFN
- Mind Cure Health Inc. added Dr. Jason Wallach to its Scientific Advisory Board, who has a PhD in Pharmacology and Toxicology. via CannabisFN
- Field Trip Health Ltd. added Dr. Andrew Weil to its Medical Advisory Board, a world-renowned leader and pioneer in the field of integrative medicine. via CannabisFN
The psychedelic drug market could reach $6.85 billion by 2027, according to Data Bridge Market Research, which translates to a blistering 16.3% compound annual growth rate. As psychedelic treatments enter clinical trials, investors may want to keep an eye on the companies behind them as potentially coming first-to-market with revolutionary drugs.
Let’s take a look at the state of psychedelic clinical trials, what companies are leading the way and why Cybin Corp.’s business model is unique in the space.
Previously Announced Upcoming Listing
- Silo Wellness Inc. announced a proposed reverse takeover with Yukoterre Resources Inc. (CSE: YT). In connection with the transaction, the company will complete a private placement for gross proceeds of approximately $2.5 million.
- Entheon Biomedical Corp. announced a definitive amalgamation agreement with MPV Exploration Inc. to list on the CSE. In conjunction, it will complete a non-brokered private placement of subscription receipts to raise C$2 million in working capital.
- Novamind Ventures Inc. signed a letter of intent with Hinterland Metals Inc. and undertook a $3 million non-brokered private placement to go public on the Canadian Securities Exchange (CSE).
- Mindset Pharma Inc. signed a letter of intent with North Sur Resources Inc. and aims to raise $1 million in a private placement to go public on the Canadian Securities Exchange (CSE).
- Magical Brands Corp. updated its plans to list on the TSX Venture exchange through its three-cornered amalgamation with Good2Go Corp. (TSXV: GOTO.P).
- What psychedelic mushrooms are teaching us about human consciousness. via Discover Magazine
Are Canadians ready to accept psychedelics in palliative care? via Globe and Mail