Psyched: Psilocybin For Gambling Addiction, Ex-NHL Player's Retreat, Fellini's LSD Creativity, Surveys, Financing & More

Psilocybin Therapy Trials: Gambling Addiction Study, Opioid Pain & Alcohol Addiction Trials

Starting this October, scientists at Imperial College London’s (ICL) Centre for Psychedelic Research will assess psilocybin-assisted therapy for gambling addiction in a government-funded study focused on understanding brain function in the disorder through changes in the reward system.

Also in October, the University of Calgary will launch a clinical trial combining a single dose of psilocybin -either 1mg or 25mg- paired with five sessions of Motivational Enhancement Therapy (MET) toward reducing heavy drinking in 128 patients with Alcohol Use Disorder (AUD.) 

Last, Jan. 2024 would be the start date of a Phase 2 mixed-methods clinical trial assessing the feasibility, safety and preliminary efficacy of one psilocybin dose to alleviate opioid-refractory pain in 15 patients with advanced cancer. Read more HERE.

From Ice Rink To Healing Haven: Former NHL Player Sets Up Psilocybin Therapy Center In Colorado

As professional athletes continue to endorse psychedelic-assisted therapy, former Colorado Avalanche defenseman Kyle Quincey is taking it to the next level. He recently announced the building of a psilocybin-assisted therapy center in the state where voters approved the treatment last November. Read more HERE.

Federico Fellini's LSD Journey: How It Inspired Some Of The Greatest Films Of All Time

A newly published analysis of Federico Fellini's films explores how LSD therapy would have fueled the famed Italian filmmaker’s creative process regarding time, space, body and perception of the self. Read more HERE.

Canada Vs. US: Surveys Reveal How People Use Psychedelics, Relationships With Healthcare Providers

Published this July and funded by partners SABI Mind, MAPS PBC and Psygen, a Canadian survey of 2,384 participants showed that over 30% of Canadians use natural psychedelics for self-medicating purposes, yet few are closely followed by their healthcare providers (HCP) or test the substances first.

Its U.S. counterpart survey also aimed to understand if people take natural psychedelics with clinical support and interactions between users and psychiatric care providers (PsyCP) or primary care providers (PCP.) Partially funded by the National Institute on Drug Abuse (NIDA), the study was conducted late last year and includes reports by 1,221 participants. Read more HERE.

The Milestone Round

• GH Research GHRS has reported its Q2 2023 outcomes, including a $238 million cash position that would ensure a runway for its 5-MeO-DMT programs into 2026.

• Cybin CYBN has launched a renewed version of its ATM equity program for up to $35 million worth of shares.

• Enveric Biosciences ENVB has wrapped up its psilocin prodrug manufacturing toward the completion of its preclinical program.

• Red Light Holland’s TRUFF homogenized natural psilocybin microdosing capsules have passed eight weeks of stability testing.

• Incannex Healthcare IXHL is putting together an IND application to submit shortly to the FDA on its psilocybin-assisted psychotherapy development program.

• Sunstone Therapies has published findings from a new study assessing trained human coders to identify observable markers of therapeutic connection within psilocybin-assisted therapy.

• The American Psychedelic Practitioners Association (APPA)’s executive director provided further details on how psychedelic therapy will work.

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

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, August 21 at $1.72, lower than the August 14 opening at $1.8 and prior weeks’ openings at $1.92 and $1.98. 

On Friday 25, the closing price was $1.64, also lower than the prior Friday 18’s closing at $1.69. 

Week’s highest was on Monday afternoon, $1.75, in a consistent lower trend, considering prior weeks’ highest had been $1.81 and $1.92.

Week’s lowest was $1.62, on Friday 25, also following the lowering trend as per prior weeks’ lowest points were $1.71 and $1.8.

Numbers have lowered since those of the past weeks’ and consequently, the ETF’s yearly price range has slightly been changed, now set between $4.35 and $1.63 (formerly $1.65).

Highest Trading Psychedelics Stocks Friday, August 25

• GH Research GHRS closed at $10.04, down considering prior closings at $10.89 and $11.94.

• COMPASS Pathways CMPS closed at $8.97, up following prior closings at $8.23 and $8.11.

• Mind Medicine (MindMed) MNMD closed at $3.8, down from prior closings at $3.97 and $4.26.

• Bright Minds Biosciences DRUG closed at $2.58, following prior closings at $2.63 and $2.37, respectively.

• Enveric Biosciences ENVB closed at $2.16, closely following prior closing at $2.15 yet still down from two weeks’ past closing at $2.72.

• Silo Pharma SILO closed at $1.94, slightly down from prior weeks’ closings at $2.02 and $2.04.

• atai Life Sciences ATAI closed at $1.54, slightly under prior closings $1.57 and $1.68.

• Incannex Healthcare IXHL closed at $1.53, ranging between the prior weeks’ $1.45 and $1.65.

• FSD Pharma HUGE closed at $1.25, down from $1.32 and $1.36.

• Seelos Therapeutics SEEL closed at $1.09, slightly lower than prior closings at $1.11 and -farther- $1.44.

Take Note: The Benzinga Cannabis Capital Conference Is Back!

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this September 27-28 for its 17th edition. Get your tickets TODAY and come join us at the epicenter of cannabis investment and branding!