Psyched: Psilocybin Therapy For Depression, UK Rescheduling, US Policy Reform And More

Single Psilocybin Dose 'Significantly' Reduces Major Depression Symptoms, An AI Predictive Model, And UK’s Struggle For Reclassification

Nonprofit medical research organization the Usona Institute shared the results from its Phase 2 trial assessing a single 25mg synthetic psilocybin dose for 104 adults with Major Depressive Disorder (MDD,) providing further evidence of the psychedelic’s antidepressant capabilities.

COMPASS Pathways CMPS, one of the biggest players in the psychedelics biotech space today, shared the results from research on the potential of its novel AI technologies to support proprietary COMP360 psilocybin treatment for Treatment-Resistant Depression (TRD.)

Meanwhile, U.K. drug policy and reform is underway through several paths. On August 30, Parliament’s Home Affairs committee presented a report urging the reclassification of psilocybin mushrooms and other psychedelics to Schedule 2 to support the “growing body of evidence” with further clinical research on the substances’ potential medical and therapeutic benefits.

Psychedelics Reform Update: CA Bill's Final Vote, MA 2024 Legalization Ballot, HI Task Force, OR Funding And More

A number of states are moving reform bills concerning the study or straight out legalizing the use of psychedelic substances for therapeutic purposes. Others have already passed legislation and its implementation is underway. Here’s a short recap of the latest moves as of Sept. 7.

The Milestone Round

• Cybin's CYBN intellectual powerhouse grows with a new US patent covering deuterated 5-MeO-DMT.

• Optimi Health OPTHF will supply psychedelics to Canada's SAP, while simultaneously securing a CA$1M private financing.

• Johns Hopkins University will work with Clearmind Medicine CMND on the latter’s alcohol addiction clinical research program.

• Toward shaping federal policy around psychedelic therapy: APPA teams up with the Daschle Group.

• PharmaTher PHRRF is aiming to mitigate ketamine shortage with a new FDA application.

• Nasdaq has granted SpiSparc SPRC an extension to maintain its listing, for which a +600% bid price surge is needed.

• Sacred medicine meets Wall Street: This legal Peyote company will start trading on the Canadian market.

• Awakn Life Sciences AWKNF submitted an application for a new Phase 3 Alcohol Use Disorder clinical trial.

• Comedian Pete Davidson revealed he tried ketamine to cope with depression.

• Shroom scandal on Amazon: AI-written guides could dangerously mislead foragers.

• Treating PTSD topically & directly to the brain? This psychedelics delivery company is poised for a major breakthrough.

• Psychedelic journeys 2.0: A look at how VR is revolutionizing therapy

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

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Tuesday, September 5 at $1.79, recovering from prior week’s at $1.65 and cutting off the dropping trend -prior openings were set at $1.72, $1.8, $1.92 and $1.98, closer-to-farther dates.) 

Yet on Friday, September 8 pre-market close, shares are trading at around $1.78, lower than prior Friday 1 at pre-close, around $1.84. This number had been a considerable improvement from two prior Fridays’ closings at $1.64 and $1.69. 

Week’s highest was $1.8 on Thursday, Sept. 7, lower than the prior week’s highest ($1.85) yet around past three weeks’ numbers ($1.75, $1.81, and $1.92, respectively.)

Week’s lowest was $1.73, trading number on Wed. 6 and Thursday 7, yet higher than prior week’s lowest ($1.63,) and than almost all three prior weeks’ lowest ($1.62, $1.71, and $1.8.)

The ETF’s yearly price range has again been changed, now set between $3.64 and $1.62. A considerable drop from just last week’s $4.12 highest and keeping the bottom at $1.62.

Highest Trading Psychedelics Stocks Friday, September 8, Pre-Close

• GH Research (NASDAQ: GHRS) is trading at $10.00, slightly below last Friday’s numbers around $10.51 and closer to Friday, August 25’s close at $10.04.

• COMPASS Pathways CMPS is trading at $9.46, slightly up from last Friday's $9.41 and higher than Friday 25’s closing at $8.97.

• Mind Medicine (MindMed) MNMD trades at $4.00, slightly under Friday, Sept. 1 at $4.12, yet up from the prior week’s close at $3.8.

• Enveric Biosciences ENVB is trading at $2.19, between Friday 1’s afternoon trading at $2.22 and Friday 25 closing at $2.16.

• Silo Pharma SILO is trading at $1.95, slightly below prior Friday’s trading at $2.04 and almost the same as Friday 25’s closing ($1.94.)

• Bright Minds Biosciences DRUG trades at $1.91, a decline from Friday Sept 1’s afternoon price of around $2.19 and further down from Friday 25’s close at $2.58.

• atai Life Sciences ATAI is trading at $1.42, falling from Friday 1’s trading around $1.53 and Friday 25’s close at $1.54. 

• Incannex Healthcare IXHL is trading around $1.34, slightly below its trading price at $1.4 on Friday 1 as well as Friday 25’s closing at $1.53.

• FSD Pharma HUGE trades around $1.24, a slight drop from Friday 1’s $1.28 and almost the same as Friday 25’s closing ($1.25.)

• Seelos Therapeutics SEEL trading around $1.01 vs. Friday 1’s trading around $1.08 and Friday 25’s closing at $1.09. 

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