Psyched: Three Noteworthy Psychedelics M&As, Colorado's Regulations, Exclusive Financing & More

Cybin's Acquisition Of Small Pharma Will Elevate DMT Therapeutics For Depression And Anxiety

Psychedelics biotech Cybin CYBN and UK-based Small Pharma DMTTF announced their definitive arrangement agreement for Cybin’s acquisition of all Small Pharma’s issued and outstanding securities. 

The deal has already been unanimously approved by both companies’ board of directors and will next face Cybin’s shareholders meeting on or about October 12. Read more HERE.

Second Psychedelics Merger Of The Week: Silo Wellness To Buy Jamaica-Based Business For $31.9M

Silo Wellness SILFF has confirmed its intention to acquire all issued and outstanding securities of NUGL Inc./Kaya Group NUGL in an arms-length transaction valued at $31.9 (CA$43.3) million.

The news was anticipated by a recent business partnership. The deal’s number reflects the combined market cap of both companies, NUGL shares valued at $0.0344 and Silo’s at $0.0147 currently (they have both entered into a trading halt as of today.) Read more HERE.

Mindset Pharma's $60M Acquisition, Otsuka's Leap Into Next-Gen Psychiatry Solutions

Canadian next-generation psychedelics developer Mindset Pharma MSSTF has entered into a definitive agreement by which Otsuka America Inc., the U.S. arm of Otsuka Pharmaceutical Co., would acquire all its outstanding shares in an all-cash transaction for approximately $60 (CA$80) million. Otsuka Pharmaceutical is part of Tokyo-headquartered Otsuka Holdings OTSKF. Read more HERE.

Colorado's Psychedelic Future Unfolds: Regulators Host Community Meetings

Representatives of the Colorado Natural Medicine Division will host five “listening sessions” throughout September and October to engage stakeholders and inform the public of the rollout process of regulated access regulations to the psychedelics legalization ballot measure. Read more HERE.

EXCLUSIVE: Psychedelics Co. To Get $7.5M In Financing - Here's Its Secret To Raising Millions In A Tough Environment

In the heart of bustling Miami, amid the buzz of the Benzinga Cannabis and Psychedelics Capital Conference, a pivotal conversation ignited a partnership destined to revolutionize the world of wellness. Jeff Stevens, CEO of Psyched Wellness PSYCF and Harrison Aaron of cannabis investment firm Gotham Green were about to embark on a journey fueled by the potential of the Amanita Muscaria mushroom. Keep reading HERE.

The Milestone Round

• Enveric Biosciences ENVB has nabbed a new USPTO-issued patent covering its psilocin prodrug for treating anxiety disorders. 

• Irwin Naturals IWINF reported its Q2 financial results, showing slow revenue and a net loss jump.

• Red Light Holland TRUFF shared its Q1 outcomes, with small yet substantially increasing revenue and a solid cash balance.

• Braxia Scientific BRAXF reported its Q1 results, with the accumulated deficit, loss and challenges to access capital from public markets.

• Psychedelics to treat addiction? How substances like ibogaine are changing the game.

• Psychedelic Revival: How ancient rituals influence modern healing

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

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, August 28 at $1.65, following the dropping trend from prior Mondays at $1.72, $1.8, $1.92 and $1.98, respectively. 

On Friday, September 1 pre-closing, shares are trading at around $1.84, a considerable improvement from prior Friday 25’s closing price at $1.64 and even Friday 18’s at $1.69. 

Week’s highest was $1.85, attained Friday 1, higher than last week’s top ($1.75) and closer to prior weeks’ peaks ($1.81 and $1.92.)

Week’s lowest was $1.63, still higher than last week’s lowest ($1.62) yet lower than prior weeks’ lowests ($1.71 and $1.8.)

The ETF’s yearly price range has again been changed and is now set between $4.12 and $1.62 (standing between $4.35 and $1.63 just last week.)

Highest Trading Psychedelics Stocks Friday, September 1, Pre-Close

• GH Research GHRS is trading at $10.51 Friday afternoon, an uptake vs. Friday 25’s close at $10.04.

• COMPASS Pathways CMPS trades at $9.41, also higher than past Friday’s closing at $8.97.

• Mind Medicine (MindMed) MNMD trades at $4.12, up from last week’s closing at $3.8.

• Enveric Biosciences ENVB trades at $2.22, a high from last week’s closing at $2.16.

• Bright Minds Biosciences DRUG is trading at $2.19, down from Friday, August 25’s closing at $2.58.

• Silo Pharma SILO is trading at $2.04, high considering Friday 25’s closing at $1.94.

• atai Life Sciences ATAI trades at $1.53, pretty consistent with the prior week’s closing at $1.54. 

• Incannex Healthcare IXHL is trading at $1.4, lower than prior Friday’s closing at $1.53.

• FSD Pharma HUGE trades at $1.28, pretty close to the former week’s closing at $1.25.

• Seelos Therapeutics SEEL is trading at $1.08, almost the same as the prior closing at $1.09. 

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!