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PsyIndex Weekly Update October 5, 2020 – October 9, 2020

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

Featured Content

Who’s Who in Psychedelic Clinical Trials

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).

Industry Developments

  • 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

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