Psyched: $100M For MDMA Therapy, VA Funds, 2024 Watchlist, Reform Updates And More

Psychedelics Developer Secures $100M In Series A Funding, Will Support MDMA Approval To Treat PTSD

A decade after it was founded as a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), MAPS Public Benefit Corporation has secured over $100 million in a Series A private stock sale. The funds will support the final stages of its application for regulatory approval to sell MDMA, also known as ecstasy, as a treatment for post-traumatic stress disorder (PTSD).

MAPS has incubated the only psychedelic-assisted therapy research program that has completed two successful Phase 3 studies and submitted a New Drug Application to the FDA. Find out more HERE.

Veterans Affairs, After Decades, Will Fund Psychedelic Research For Vets With PTSD And Depression

In a groundbreaking move, the U.S. Department of Veterans Affairs (VA) is launching new studies on using psychedelic compounds to treat post-traumatic stress disorder (PTSD) and depression among military veterans. This marks a significant shift for the VA, representing the first such research since the 1960s, reported Military Times.

This new VA-backed effort will delve deeper into "the effectiveness and safety of using MDMA and psilocybin-augmented psychotherapy in veterans," as the VA release outlined. Keep reading HERE.

30 Psychedelics Executives, Scientists & Influencers To Watch In 2024 And Beyond

Key players and influential figures worldwide are helping drive innovation and acceptance around psychedelic medicines. Trailblazers in this industry come from diverse backgrounds including scientists, investors, advocates, publicists, journalists and policy reformers.  

This list of 30 standouts includes some of the biggest movers and shakers from various countries and companies, ranging from emerging startups to major corporations whose work collectively underscores the global scope of this mental health movement centered on psychedelic therapy. Though not exhaustive, this cross-section of global leaders provides key insights into progress and potential yet to come.

Psychedelics Reform Update: Policies Move Forward In Thirteen States On Fed And Local Levels

Parallel to recent federal decisions by President Biden and the VA, state-level psychedelics policy reform is moving fast throughout the country. 

Since our previous update and as of Jan. 9, 2024, the latest moves are taking place in Arizona, California, Illinois, Indiana, Massachusetts, Missouri, Nevada, New Hampshire, New York, Rhode Island, Virginia, Washington and Wisconsin. Follow each state’s progress HERE.

Plus, Ypsilanti became Michigan's fifth city to decriminalize psychedelics through a local resolution.

The Milestone Round

• Cybin's CYBN two deuterated psychedelic molecules achieved positive topline clinical results.

• MindMed's MNMD 2024 Plans: anxiety treatment stands, LSD microdosing for ADHD will be discontinued.

• Tryp Therapeutics TRYPF is exploring psilocybin's potential in new clinical trials to treat irritable bowel syndrome and fibromyalgia.

• INTERVIEW - Rise of kava, kratom and plant-based products: is this company shaping a new wellness trend?

• INTERVIEW - Could ayahuasca be the key to better corporate leadership? This company has an interesting approach.

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

Psychedelics ETF’s Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, Jan. 8 at $1.41, following prior weeks’ openings at $1.42, $1.42 and $1.34 (Jan. 2, Dec. 26 and Dec. 18, respectively.)

On Friday, Jan. 12 it closed at $1.47, following prior closings at $1.44, $1.39 and $1.42 (Jan. 5, Dec. 29 and Dec. 22, respectively.) 

Week’s highest was $1.64 on Tuesday, Jan. 9, higher than three prior weeks’ highest at $1.62, $1.45 and $1.43.

Week’s lowest was an opening price $1.41, also higher than prior weeks’ lowests at $1.35, $1.32 and $1.32.

Highest Trading Psychedelics Stocks Friday, Jan. 12 At Close

• COMPASS Pathways CMPS closed at $8.44, falling from prior closings at $8.76, $8.75 and $8.75. 

• GH Research GHRS closed at $6.03, jumping from prior closings at $5.37, $5.80 and $5.49.

• Incannex Healthcare IXHL closed at $4.30, again in the upward trend considering prior closings at $4.10, $4.64 and $3.92.

• Mind Medicine (MindMed) MNMD closed at $3.96, slightly behind prior week’s close at $4.13, yet still higher than two- and three-weeks-past ones at $3.69 and $3.57. 

• Atai Life Sciences ATAI closed at $1.96, up from prior closings at $1.64, $1.41 and 1.40. 

• Bright Minds Biosciences DRUG closed at $1.93, up from immediately prior closings at $1.68, $1.43 and $1.50.

• Silo Pharma SILO closed at $1.45, almost evening past three weeks’ closings at $1.46, $1.44 and $1.60, respectively.

• Seelos Therapeutics SEEL closed at $1.44, similar to prior closings at $1.34, $1.43 and $1.56.

• Clearmind Medicine CMND closed at $1.34, a considerable fall as per prior closings at $2.28, $2.85 and $2.95.

• Enveric Biosciences ENVB closed at $1.27, continuing the trend as per prior weeks’ closings at $1.27, $1.30 and $1.32.

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