Psyched: Psychedelics In Davos, Prince Harry In The 90s, Cathie Wood's Latest Moves And More

Psychedelics Take Center Stage In Davos

Psychedelics will lead the conversation inside the Davos House of Health for a second year in a row this January.

The event is running parallel to the World Economic Forum.

This year's opening session, titled “Wisdom Health: Consciousness Leadership,” will be led by the Swiss non–profit’s founder, Álvaro Guirao, and emerging inner designer Astrid Brinck.

Organized by U.S. non-profit Energia Foundation, the event will bring together the leading global human health innovators and the world’s most prominent stakeholders in the field. Continue reading here.

Prince Harry Opens Up About Cocaine, Magic Mushrooms And Weed

In his new autobiography entitled "Spare," Prince Harry shared how he ended up talking to a toilet and laughing with a garbage can after taking drugs.

The son of King Charles III said that at the age of 31 he consumed psychedelics, and recalled a night where a toilet turned into a head with an open mouth that said "AAAAHH." 

When Harry stepped on the pedal of the basket and the lid opened, the basket looked like a big smile, which made him laugh, he says, according to excerpts published by The Sun.

Harry's behavior never went unnoticed by the critical eye of the media. On several occasions, he was photographed inebriated in London, and even once naked in Las Vegas. Such events were not ignored by the crown. In 2002, on the 50th anniversary of the coronation of Queen Elizabeth II, Harry was questioned for the use of illegal drugs, because in the UK mushrooms and cocaine are "Class A" drugs, whose penalty for possession is seven years. Continue reading here.

Why Gwyneth Paltrow Thinks The '90s Were Awesome'

Goop founder and actress Gwyneth Paltrow visited The Late Late Show and told host James Corden — along with fellow Oscar winner Hilary Swank — that the 1990s were awesome thanks to no cell phone cameras or social media.

This was beneficial for well-known personalities to go unpunished in certain illicit acts, such as drug consumption.

"It was great to do cocaine and not get caught," Paltrow laughed. Continue reading here.

See Also: [Video] Soccer Scandals: The 5 Most Shocking Doping Stories From FIFA World Cups

Cathie Wood Reacts To Atai's Drastic Stock Plunge

After Atai Life Sciences ATAI shared the results of a Phase 2 trial of R-ketamine compound for TRD, the psychedelics biotech’s stocks plummeted.

The closing stock price on Jan. 11 was $1.72, more than 90% below its IPO price from June 2021 when the company went public on the Nasdaq. 

The situation caught the eye of Cathie Wood who, through ARK Invest, had invested in Atai since February 2022 and sold 922,367 units between Jan. 9 and 11, 2023.

Wood’s fund still owns more than 4 million Atai shares. 

Neither the fund nor its president has publicly announced whether it will sell off more Atai shares but rather commented on other companies within the tech sector.

On the other hand, ARK bought 82.924 shares of COMPASS Pathways CMPS during that same time period. COMPASS made news following its successful Phase 2b clinical trial on psilocybin therapy for treatment-resistant depression. Continue reading here.

The Milestone Round

Each week, we learn about new clinical trials, the creation of psychedelic-based compounds and novel potential treatments for those suffering from mental and physical health conditions.

Several interesting studies were announced this week, including one on LSD’s impact in the endocannabinoid system, another comparing intramuscular to intravenous administration, and a novel psychedelic for the treatment of postpartum depression.

Business wise, Revive Therapeutics RVVTF  raised $3.2 in its latest private placement, while Cybin CYBN and MindMed MNMD have provided the latest updates on their pipeline developments, and several other companies have published their most recent businesses including a new joint venture, clinical studies partnerships, a newly created company and the acquisition of a new subsidiary. 

Psychedelics companies are aiming to access research, development, production and sales of psilocybin mushrooms in places as distant as Canada and Jamaica, while closer to home one company has launched a new online therapy service that is covered by some of the biggest insurance providers and another has launched psychedelic gummies.

Meanwhile, a minecraft poet has released art into public domain after having a psychedelic experience. 

See Also: Last Week's Edition Of 'Psyched'

Psychedelics EFTs Weekly Performance

This is how the sector’s major EFTs performed in the week spanning January 9-13.

• AdvisorShares Psychedelics PSIL opened Monday, Jan. 9 at $2.00, the start of what would later become a weekly recovery uptrend: $2.09, $2.12 and finally closing at $2.13 on Friday, Jan. 13. Prior week’s opening was at $1.91 and closing at $1.98.
  For this EFT, the yearly price range was once between $6.26 and $1.82, had been changed to $5.75 as highest and $1.79 as lowest, and is now set between $5.25 and $1.79.

• The Elemental Advisors PSYK EFT PSYK opened Monday, Jan. 9 at $16.75, representing a fall after Friday 6’s closing at $17.02. Nonetheless, the stock’s price consistently grew throughout the whole week: $$17.13, $17.39, $18.02, and finally closing at $18.24, a considerable distance from Friday 6’s closing at $17.02.

For this EFT, the yearly price range was set between $23.32 and $16.70, and now the lowest price has been adjusted to $16.28.