Psyched: Veterans & Psychedelics, $100M IPO, Cybin's $64M Offering, Worldwide Events & More

Veterans Day: Can Psychedelic Treatment Help Stem PTSD-Related Suicides Among Veterans?

An average of 17 veterans committed suicide per day in 2020 according to the Dept of Veterans Affairs. The percentage of veterans from conflicts in the Middle East who have experienced PTSD is nearly triple the number of those from the Vietnam War. Suicide is the second leading cause of death among veterans.

The national committee under the Veterans Affairs & Rehabilitation Commission has long advocated expanded clinical research into alternative treatments for mental health conditions like PTSD, particularly for conditions that do not respond to prescription drugs. The Veteran Mental Health Leadership Coalition and the nonprofit Reason for Hope have been looking at the science and research for the careful use of psychedelic treatments – psilocybin, ayahuasca, MDMA and ketamine to manage PTSD and reduce veteran suicide. Keep reading HERE.

This Psychedelics Co. May IPO With '$100M In Revenue' Changing Mental Health Forever, Says VC Investor

In the evolving narrative of modern medicine, there's a new chapter being written by the pioneers at the helm of Mystic Ventures, where managing partner Jeremy Gardner is intently focused on the profound potential of psychedelics. The latest developments in this arena are not just about a burgeoning industry, but a seismic shift in how we approach some of the most intractable mental health issues.

"There's never been a more exciting time to be doing what we're doing," Gardner states, his voice resonating with the kind of conviction that only comes when one's work aligns seamlessly with one's values. At the age of 31, having already navigated multiple careers, Gardner has found his calling in the psychedelic space, an industry at the precipice of a revolution. Find out more HERE.

Cybin Launches Five-Day Units Offering For Up To $64M, Suspends Prior LPC Funding Deal

Clinical-stage psychedelics biotech Cybin Inc. CYBN has announced a new underwritten offering of 66.66 million units to one of its largest institutional shareholders as well as new institutional investors.

Unit price set at $0.45, an approximate $30 million will be fully funded upon the offering’s closing (gross proceeds), with up to an additional $34 million that could be funded upon full exercise of the warrants. Details HERE.

Worldwide Psychedelics Events: Miami, Croatia, D.C., France, UK, NY, Oregon, Arizona & SXSW

Activities are galloping along in the psychedelics community. From online seminars and discussions to major onsite conferences, scientific-oriented to general crowd-friendly, here’s a list of the different events you can join in the next couple of weeks.

The Milestone Round

• Canada to Australia: New MDMA and psilocybin shipment on its way for legal therapeutic market.

• Law enforcement cracks down on controlled substances in Connecticut and Vancouver, various arrests made.

• 'Crack should be available at 7-Eleven': How a cold email landed this college student a VC job in psychedelics.

• Wonderland Conference Miami: Bridging psychedelics and overall wellness.

• How to grow magic mushrooms at home: Bilingual course (English/Spanish) offers live expert support.

• 5 scientifically proven truisms about the amazing pharmacological effects of psilocybin.

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

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, November 6 at $1.5, improving from two immediately prior openings at $1.41, and getting closer to former weeks’ openings at $1.5 and $1.54.

On Friday 10, it closed at low $1.31, a considerable decrease as of last weeks’ closings at $1.49, $1.41, $1.4 and $1.5.

Week’s highest was opening price $1.5, higher than the two prior weeks ($1.49 and $1.44), yet still behind former weeks’ highests at $1.53 and $1.60. 

Week’s lowest was $1.27 during Friday, November 10, behind all past weeks’ lowest points at $1.37, $1.35, $1.40 and $1.49, respectively.

The ETF’s yearly price range is now between $2.53 and $1.28 (slight adjustment as of last week’s lowest at $1.34.)

Highest Trading Psychedelics Stocks Friday, Nov. 10 At Close

• GH Research GHRS closed at $8.21, slightly behind past closing at $8.26 yet still sustaining a nice uptake as of immediately prior weeks’ closings at $6.91, $7.28 and $8.08.

• COMPASS Pathways CMPS closed at $5.27, markedly descending from immediately prior closing at $6.41, and closer to the three immediately consecutive prior closings at $5.28, $5.79 and $5.99. 

• Mind Medicine (MindMed) MNMD closed at $2.5, also remarkably behind the former week’s high close at $3.09, and closer to the three weeks’ past closings at $2.47, $2.62 and $2.8.

• Enveric Biosciences ENVB closed at $1.58, dropping from all past weeks’ closings at $1.83, $1.8, $2.00 and $2.13, respectively.

• Silo Pharma SILO closed at $1.36, also down from past week’s high close at $1.7, and closer to the three past weeks’ closings at $1.34, $1.36 and $1.51.

• Bright Minds Biosciences DRUG closed at $1.21, confirming a descending trend as of all prior closings at $1.32, $1.4, $1.51 and $1.56, respectively.

• Atai Life Sciences ATAI closed at $1.17, also down from past week’s close at $1.32, still higher than two-weeks-past one at $1.06 yet below two other immediately prior closings at $1.3 and $1.28, respectively.

• Incannex Healthcare IXHL closed at $1.11, keeping up the slightly upward trend as of all immediately prior closings at $1.1, $0.99, $0.91 and $1.00.

• FSD Pharma HUGE closed at $1.03, slightly down from prior week’s close at $1.07, still better than two-weeks-past close at $0.98 yet down from immediately prior closings at $1.11 and $1.15, respectively.

• Cybin Inc. CYBN closed at almost $0.43, markedly down from prior closings at $0.6, $0.62, $0.48 and $0.58, respectively.