Back in 2014 when investors started trading marijuana stocks Wall Street dubbed it as just the flavour of the year. But since then, psychedelic stocks have seen billions of dollars be invested in them and hundreds of companies revolving them have launched themselves. This is also due to the scientific research which now supports the use of psychedelics as a medical treatment which helps normalize their consumption. The Centre for Psychedelic and Consciousness Research at John Hopkins has announced its commitment of $17 million for proper study and research which help normalize psychedelics.
Although it is vital that government support the growing psychedelic industry and allow it to be legalized globally for its advancement, it is already a growing industry with endorsements from celebrities and certain medical institutions. It is predicted that the psychedelic sector can rake in over $6.85 billion by the year 2027. Below are some of the stocks worth having a look at if you are thinking about investing in psychedelic stocks in 2021.
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MindMed Inc., is a leading psychedelic medicine biotech company which works in developing psychedelic inspired medicines for the treatment of mental illnesses. It aims to develop a channel of innovative treatments with the use of psychedelic substances with the use of its own biopharmaceutical experience and approach to develop new psychedelic inspired medicines.
With the legalization of psychedelics for medical consumption, MindMed’s stocks have also seen a rise. When Oregon became the first state in the United States to legalise the medical usage of psilocybin, psychedelic stocks also rose. MMED also recently had a prosperous meeting with the US Food and Drug Administration about use of LSD as an assisted treatment for anxiety disorder.
MMED announced the closing of a financing for gross proceeds of $21.6 million at the end of October 2020. Its total assets as of September 30, 2002 were $23.7 million.
Champignon Brands Inc (OTCMKTS: SHRMF)
Champignon Brands Inc. (SHRMF) is a Canadian company which operates as an agricultural company which specializes in the cultivation of medicinal mushrooms and health supplements. It possesses an extensive psychedelic business with multiple sectors and is currently pursuing a market in the United States, particularly California.
It recently announced that Champignon Brands would be offering esketamine for expanding its treatment service of major depressive disorder (MDD). Canada’s first multipisciplinary community clinic which is expected to be the first which offers quick onset treatment for depression, Canadian Rapid Treatment Centre of Excellence, is owned by Champignon Brands.
vTv Therapeutics Inc (NASDAQ: VTVT)
vTv Therapeutics Inc. (VTVT) is a clinical state biopharmaceutical company which aims to use innovative technology in developing human therapeutics in order to fill unmet medical needs. It has small molecule clinical and pre-clinical drug candidates for the treatment of those suffering from central nervous system disorder, cancer, diabetes, cancer, and metabolic disorders.
It has recently garnered a lot of attention since its announcement of being able to treat Alzheimer’s with its new technology. Azelirangonas is one of its drugs which it is using in its treatment of those suffering from Alzheimer’s disease and type 2 diabetes. It has presented clinical trials at the Alzheimer’s Disease Digital Event in which it attracted the attention of multiple investors.
Its revenues were significant for the third quarter and its cash position as of September 30, 2020 was $1.8 million. VTVT is not one of the leading psychedelic companies but it has come under the spotlight since the Biogen news and has picked up speed in the past few months.