Psyched: DEA Revisits Ban On Two Psychedelics, Farewell Russell Newcombe, Podcast Episode On Kanna & More

DEA Revisits Proposed Ban On Two Psychedelic Compounds: Researchers Disagree, Insist On Hearings

The Drug Enforcement Administration (DEA) is revisiting its stance on the classification of two psychedelic compounds, 2,5-dimethoxy-4-iodoamphetamine (DOI) and 2,5-dimethoxy-4-chloroamphetamine (DOC).  

The agency has proposed both be listed as Schedule I substances under the Controlled Substances Act (CSA). If added to the Schedule I list, these compounds would be officially considered as having high abuse potential with no recognized medical use.

The evaluation is being disputed by experts. Three formal requests for a hearing were submitted, prompting a reconsideration by the agency. The listing raises concerns within the scientific community and companies developing neurological and medical research that rely on them. Learn more.

Russell Newcombe Dies – Legacy Of UK’s Longtime Harm Reduction Advocate, Committed Drug Researcher

April 4 was a sad day for the drug research and harm reduction advocate communities worldwide with the news of Russell Newcombe's passing. A prominent figure in the field of harm reduction, the English psychologist and researcher played an active role in informing and advocating for harm reduction strategies on a global scale.

Researcher, lecturer, trainer and consultant on drug use and drug policy for some 40 years at various institutions and organizations across the globe, his main areas of interest included the psychosocial effects of drugs, reduction of drug-related risks and harms, discrimination against people drug user, scientific evaluation of drug strategies and drug services and novel psychoactive substances. Keep reading.

Podcast: Expert Talks About ‘Kanna,’ The Legal African Succulent That Elevates Awareness, Concentration And More

Welcome to a new episode of the Benzinga Psychedelics Podcast where we’re joined by Stephanie Wang, founder of business KA! Empathogenics and speaker about alternative mental health, emotional wellness, resilience-building in the nervous system and connection to self, others and nature through the lens of plant medicine.

KA! focuses on bringing to market products that contain the ancient healing plant kanna, paired with modern science, for an alternative, legal means to help people with mental health issues. Kanna is legal in the U.S., unlike most psychoactive substances.

Find out more and listen here.

The Milestone Round

• Atai Life Sciences ATAI shared its Q4 and full-year 2023 results.
• DMT for stroke treatment: Algernon Pharmaceuticals AGNPF sets its Phase 2 clinical trial design.
• Optimi Health OPTHF will supply psilocybin for New Zealand’s Mātai Medical Research Institute.
• Psychedelics reform update: Missouri’s $10 million budget, Maine’s & Maryland’s study groups, Oregon’s re-crim and more.

See Also: Prior Edition Of ‘Psyched'

Psychedelics ETF’s Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, April 15 at $1.38, following openings at $ 1.51, $1.46 and $1.45 (April 8, April 1 and March 25 respectively.)

On Friday, April 12 it closed at $1.37, following prior closings at $1.49, $1.49 and $1.44 (April 5, March 28 and March 22, respectively.)

The week’s highest within open market hours was $1.51, vs. prior highest points at $1.56, $1.49 and $1.55.

Week’s lowest (open market hours) was $1.37 vs. prior lowest points at $1.43, $1.42 and $1.41. 

Highest Trading Psychedelics Stocks Thursday, April 12 Close

• GH Research GHRS closed at $11.19, following prior closings at $11.13, $10.66 and $10.54 (April 5, March 28 and March 22.)
• Mind Medicine (MindMed) MNMD closed at $9.76, following prior closings at $10.99, $9.53 and $9.85. 
• COMPASS Pathways CMPS closed at $8.88, following prior closings at $9.50, $8.33 and $8.99.
• Incannex Healthcare IXHL closed at $2.97, following prior closings at $3.25, $3.60 and $2.82.  
• Atai Life Sciences ATAI closed at $2.30, following prior closings at $2.43, $1.93 and $1.63.
• Silo Pharma SILO closed at $1.97, following prior closings at $2.05, $1.92 and $1.86.
• Bright Minds Biosciences DRUG closed at $1.27, following prior closings at $1.25, $1.20 and $1.22. 
• Clearmind Medicine CMND closed at $1.25, following prior closings at $1.15, $1.15 and $1.18. 
• Lucy Scientific LSDI closed at $1.24, following prior closings at $1.28, $1.39 and $1.38. 
• Enveric Biosciences ENVB closed at $1.00, following prior closings at $0.97, $1.03 and $1.13.

Stock trading numbers above according to Benzinga Pro, our all-the-information-you-need streaming platform helping you invest smarter – Come join us and see for yourself!