OTCStockReview.com News Commentary
ATLANTA, Oct. 16, 2020 — 2020 has been quite a year, but hidden among the carnage is great news about advances in research on psychedelic medicine to treat mental health issues. In January Johns Hopkins announced it had launched the Center for Psychedelic and Consciousness Research three months earlier. With $17 million in private funding and a full panel of planned studies, Johns Hopkins’ researchers planned to focus on how psychedelics impact brain function and mood in both healthy individuals and those affected by mental health issues. What John Hopkins did not realize is that it would be sparking the psychedelic revolution.
Psychedelics, like psilocybin, are garnering interest from mainstream America. Denver, Oakland, and Santa Cruz have recently legalized its use. Ann Arbor, Michigan lawmakers voted to decriminalize psilocybin mushrooms and a ballot in Oregon could legalize its use by November 2020. This paradigm-shift in the treatment of mental health disorders could be the single best thing to come out of 2020. As researchers and the medical community develop more valuable tools for understanding the brain’s connection to mind and behavior, millions of people all over the world will benefit. Numerous studies on psychedelics are already proving such treatments can treat a host of mental issues, like obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, depression, anxiety, and eating disorders. As clinical trials supporting psychedelic treatments begin to prove the theories of researchers, we would expect to see big pharmaceutical companies investing heavily into psychedelics for their own drug pipelines.
In our opinion, this opens up significant opportunities for investors to profit from psychedelic stocks in the coming months. A few companies to put on your radar screen are COMPASS Pathways (NASDAQ:CMPS), Mind Medicine Inc. (OTC: MMEDF), Ehave, Inc. (OTC: EHVVF), and Revive Therapeutics Ltd. (OTC Pink: RVVTF).
COMPASS Pathways (NASDAQ:CMPS) came public on the NASDAQ at $17.00 a share on September 18th, 2020, making it the first psychedelic company to be listed on a U.S. exchange. Since then, CMPS shares have traded as much as 160% above the offering price, providing investors with a tremendous short-term return. CMPS did more than provide investors with a huge return; it also alerted a whole new crop of investors to psychedelic medicine stocks. Co-founded by George Goldsmith and Ekaterina Malievskaia, COMPASS Pathways added Lars Christian Wilde and went to work developing psilocybin (the active compound in magic mushrooms) for use in patients with treatment-resistant depression. COMPASS Pathways is currently conducting an FDA phase IIb clinical trial of psilocybin therapy for treatment resistant depression in 20 sites across Europe and North America. The Company expects to have results in 2021.
COMPASS Pathways is based in London, UK and the Company is pioneering the development of a new model of psilocybin therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA) for treatment-resistant depression (TRD). H.C. Wainwright analyst Patrick Trucchio initiated coverage on COMPASS Pathways October 14, 2020 with a Buy rating and set a price target of $65.00. Canaccord Genuity also initiated coverage with a Buy rating on the stock with an $80.00 price target. www.compasspathways.com
Ehave, Inc., (OTC Pink: EHVVF) is making its mark in the psychedelic medicine space as a provider of digital therapeutics delivering evidence-based therapeutic interventions to patients. Ehave’s proprietary Dashboard utilizes BlockChain technology to provide better communication among health care providers for better patient outcomes and is compliant with both HIPAA and GDPR standards. The aggregation of data and information into one application has proven effective in streamlining the health process for both patients and providers. With an interest in psychedelic research, Ehave’s Dashboard offers the medical and research community an opportunity to share information with an emphasis on security. The Ehave Dashboard has been developed through years of testing with mental healthcare professionals at one of Canada’s largest hospitals, Toronto’s Hospital for Sick Children. In addition to providing better outcomes, the proprietary platform allows individuals to take control of their physical and mental health by enabling them to carry their medical records with them wherever they go.
Ehave also owns a piece of the PsyTech Summit , which brings together decision makers, investors, clinicians, thought leaders, and advocates for the purpose of advancing psychedelics science, business, and reform. As a result of the Covid-19 pandemic, the PsyTech Summits are being held virtually, but still cater to thousands of virtual attendees, as well as live guests at select city hubs across four continents. PsyTech Summit 2020 will be a one-day, international event bringing together decision makers, investors, clinicians, thought leaders, and advocates for the purpose of advancing psychedelics science, business, and reform. Register free at https://www.psytech.biz. Speakers for the conference include Dr. Julie Holland who is a psychiatrist, psychopharmacologist, and author of the New York Times bestseller Moody Bitches and Weekends at Bellevue; David Nutt who is a psychiatrist and the Edmond J. Safra Professor of Neuropsychopharmacology in the Division of Brain Science, Dept of Medicine, Hammersmith Hospital, Imperial College London; Dr. Beatriz Caiuby Labate (Bia Labate) who is the Executive Director of the Chacruna Institute for Psychedelic Plant Medicines; Rick Doblin, Ph.D. who is the founder and executive director of the Multidisciplinary Association for Psychedelic Studies (MAPS); and Del Joly former business development for Charlotte’s Web. www.ehave.com
Mind Medicine (OTCQB: MMEDF) made the last big splash in the psychedelic medicine pool. The Company raised $24 Million in a pre IPO round which included Kevin O’Leary and Bruce Linton, a founder of Canopy Growth Corporation. Since coming public the stock has more than doubled. Mindmed listed in March on the Canadian NEO exchange and here in the US on the Other OTC. The shares now trade on the OTCQB. Since then MindMed has moved beyond ketamine and psilocybin mushrooms and now looking towards LSD (lysergic acid diethylamide) as a treatment compound. MindMed has started clinical trials for LSD to treat anxiety and cluster headaches, as well as clinical trials for MDMA (3,4 Methylenedioxymethamphetamine) and DMT (the active ingredient in Ayahuasca). The company is planning to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. MindMed applied for an up-listing on the NASDAQ on September 21, 2002, just days after Compass Pathways went public.
On October 9, 2020 MindMed announced a $25 million bought deal public offering. The press release announcing the capital raise was not supposed to be released in the U. S., but since the OTCQB symbol is in there, it was hard to miss. A bought deal is a securities offering usually done in Canada in which an investment bank assumes the risk of committing to buy the entire offering from the client company. Canaccord Genuity Corp. acted as the lead underwriter, and Canaccord Genuity Corp. analyst Tania Gonsalves said in a recent report that psychedelic medicines and psychedelic-assisted therapy could become a $100 billion market. www.mindmed.co
Revive Therapeutics Ltd. (OTC Pink: RVVTF) is an Ontario, Canada based life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its recent acquisition of Psilocin Pharma Corp., Revive is advancing the development of Psilocybin-based therapeutics in various diseases and disorders. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation.
In February, RVVTF announced plans to acquire Psilocin Pharma Corp. for $2.75 million. Psilocin has developed production solutions for the active compound Psilocybin. The precisely dosed formulations work with both natural and synthetically derived Psilocybin which will be targeted for clinical research and subject to eventually Food and Drug Administration approval in the treatment of conditions such as depression, anxiety, bi-polar disorder, bulimia and anorexia. The company also filed an IND for a COVID treatment. www.revivethera.com
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