Welcome to TDRs review of the Top 5 Psychedelic Developments for the week of July 18. Aside from presenting a synopsis of events, we provide market commentary to summarize the week that was for publicly-listed companies.
5. Cory Booker And Rand Paul Bill Would Force DEA To Let Patients Use Psychedelics And Marijuana
Bipartisan and bicameral congressional lawmakers filed companion bills on Wednesday to clarify that federal Right to Try (RTT) laws give seriously ill patients access to Schedule I drugs, including marijuana and psychedelics like psilocybin and MDMA.
Sens. Cory Booker (D-NJ) and Rand Paul (R-KY), along with Reps. Earl Blumenauer (D-OR) and Nancy Mace (R-SC), are the lead sponsors of the legislation.
4. COMPASS Pathways appoints Kabir Nath as Chief Executive Officer
COMPASS Pathways plc (Nasdaq: CMPS) announced that it has appointed Kabir Nath as Chief Executive Officer, effective August 1, 2022. George Goldsmith, COMPASS current CEO and Chairman, will serve as the companys Executive Chairman from August 1, 2022 to December 31, 2022 to facilitate the transition, and remain as Chairman after that.
Kabir Nath brings decades of experience in the health care industry to his new role, most recently serving as Senior Managing Director of global pharmaceuticals at Otsuka Pharmaceutical Co., Ltd. and previously as President and CEO of Otsukas North America Pharmaceutical Business, where he led the development of pharmaceutical products and digital solutions addressing complex mental health needs.
Prior to Otsuka, Kabir held various leadership positions at Bristol Myers Squibb, a global biopharmaceutical company focused on innovative medicines for patients with serious diseases. Kabir holds an MA in Mathematics from the University of Cambridge and an MBA from INSEAD.
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Numinus Wellness Outpatient Therapy Growth Metrics Are Trending In The Right Direction
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3. Psychedelic Stocks Outperform Biopharma Peers
The biggest psychedelic stocks were higher on balance, as the sector shows continued resilience lately in the face of volatile markets. TheHorizon Psychedelic Stock Index ETF(PSYK) sank2.74%and outperformed direct peerNasdaq Junior Biotechnology Index(1.54%) and theNasdaq Biotechnology Ishares ETF(0.51%). TheNASDAQ 1003.51%andS&P 5002.54%also rose, as the market found a bid in the face of decent corporate earnings and renewed stock buybacks.
Heres how the Health Care (Biotechnology) sector performed:
Weekly Top Gainers:
In the news
Awakn Life Sciences announced that the National Institute for Health and Care Research, a UK government agency, has approved grant funding for 66% of the costs of Awakns Phase III clinical trial exploring the use of ketamine-assisted therapy for the treatment of AUD. The trial is currently forecast to cost approximately CA$3.75 million in total.
COMPASS Pathways announced that it has appointed Kabir Nath as Chief Executive Officer, effective August 1, 2022. George Goldsmith, COMPASS current CEO and Chairman, will serve as the companys Executive Chairman from August 1, 2022 to December 31, 2022 to facilitate the transition, and remain as Chairman after that.
Delic Holdings shared a corporate update.
Drug Enforcement Administration is being suedagainover its refusal to allow a doctor to treat terminally ill patients with psilocybin therapy pursuant to federal and state Right to Try (RTT) laws, which are aimed at expanding access to Schedule I investigational drugs that arent currently approved for general use (July 22).
Enveric Biosciences announced the formation of its Scientific Advisory Board comprised of science and technology leaders, including globally renowned CNS and mental disorders experts, and chaired by Maurizio Fava, M.D.
Field Trip Health announced the first successful dosings in the Phase 1 Clinical Study entitled A Double-Blind, Randomized, Placebo-Controlled Study to Investigate the Safety, Tolerability, and Pharmacokinetics of Single, Ascending, Subcutaneous Doses of FT-104 HCl In Healthy Volunteers. The study is being conducted at PARC Clinical Research at the Royal Adelaide Hospital in Australia.
KGK Sciences And Halucenex sign contract for Phase II clinical trial on psilocybin for PTSD.
Lobe Sciences has filed a provisional patent for the preparation and use of its proprietary and stable psilocin related compounds.
Mydecine Innovations Group has successfully synthesized multiple short-acting MDMA analogs. This family of analogs have been specifically designed by experts at Mydecine to have a shorter half life than traditional MDMA.
Oregon will soon be the first state in the US where you can take magic mushrooms legally. Heres everything you need to know.
Red Light Holland provided a clarification and update with additional information regarding its partnership with Mistercap LLC.
Stephen Colbert recalls horrible trip on magic mushrooms.
TDR Feature article: 5-Year Anniversary Of Chester Benningtons DeathHow The Linkin Park Vocalist Brought Mental Health Into The Mainstream
2. DEA Sued Over Unlawful Delays On Psychedelic And Marijuana Public Records Requests Through FOIA
The Drug Enforcement Administration (DEA) is being sued over repeated delays to requests for records related to psychedelics and marijuana.
DEA Sued Over 'Unlawful' Delays On Psychedelic And Marijuana Public Records Requests Through FOIA: "This policy and pattern or practice rests on a perversion of FOIAs plain language." https://t.co/Hq98xamsUN
This comes amid a multitude of drug policy-focused legal challenges the agency has faced in recent years, including one that concerns DEAs refusal to provide a doctor with access to psilocybin to treat terminally ill patients under right to try laws.
But while connected, and involving some of the same plaintiffs and attorneys, this new suit centers on DEAs alleged unlawful policy of delaying responses to Freedom of Information Act (FOIA) requests, specifically pertaining to psychedelics and marijuana documents that advocates say theyve sought for legal and journalistic purposes.
1. Psychedelic Mushroom Decriminalization Makes Colorado Ballot
Colorado voters will decide in November whether to decriminalize psychedelic mushrooms, and the initiative could open the door for decriminalizing other hallucinogens. On Thursday, the Colorado Secretary of States Officesaid 225,140 signatureswere submitted forInitiative 58. The office projects that about 138,760 are valid, putting the campaign more than 111% over its required signature goal.
Colorado voters will decide in November whether to decriminalize psychedelic mushrooms, and the initiative could open the door for decriminalizing other hallucinogens. https://t.co/4Fs1Nhkh9Q
The Natural Medicine Health Act of 2022 would decriminalize psilocybin, better known as psychedelic or magic mushrooms, for people aged 21 and up. Coloradans of age could have it, ingest it and cultivate it at home without criminal penalty under state law. The law would also allow for licensed healing centers where people could buy and consume the mushrooms. It would remain a crime for anyone else to sell them, but not to give them away to other adults.
The measure will be on the Nov. 8 ballot.
See the rest here:
TDR's Top 5 Psychedelic Developments For The Week Of July 18 - The Dales Report
- Review: Tripping on Utopia Complicates the History of Psychedelics - AOL - March 16th, 2024 [March 16th, 2024]
- Psychedelics Are Going Mainstream. Investing in Them Hasn't. - The Wall Street Journal - January 7th, 2024 [January 7th, 2024]
- Another Study Shows African Psychedelic Plant Ibogaine Treats Traumatic Brain Injury in Vets With 'Dramatic' Results - Good News Network - January 7th, 2024 [January 7th, 2024]
- Massachusetts Lawmakers Will Be Forced To Consider Psychedelics Legalization Measure That Activists Petitioned ... - Marijuana Moment - January 5th, 2024 [January 5th, 2024]
- VA to begin researching psychedelics as treatment option for veterans - Government Executive - January 5th, 2024 [January 5th, 2024]
- VA Is Funding New Research On Psychedelics' Benefits For Veterans With PTSD And Depression - Marijuana Moment - January 5th, 2024 [January 5th, 2024]
- VA ramps up study of psychedelic to treat PTSD - The American Legion - January 5th, 2024 [January 5th, 2024]
- Scientists predict DMT trip from cardiac activity - Big Think - January 5th, 2024 [January 5th, 2024]
- If psychedelics heal, how do they do it? | Proceedings of the National Academy of Sciences - pnas.org - January 5th, 2024 [January 5th, 2024]
- Psychedelics for acquired brain injury: a review of molecular mechanisms and therapeutic potential | Molecular ... - Nature.com - January 5th, 2024 [January 5th, 2024]
- U.S. Rep. Correa supports using psychedelics to treat veterans with PTSD - New Santa Ana - January 5th, 2024 [January 5th, 2024]
- DEA Confirms That Psychedelic Mushroom Spores Are Federally Legal Prior To Germination - Marijuana Moment - January 5th, 2024 [January 5th, 2024]
- Psychedelics for Psych Conditions Made Their Mark in 2023 - Medpage Today - January 5th, 2024 [January 5th, 2024]
- 2023: A Good Trip Around the Sun for Psychedelics - The National Law Review - January 5th, 2024 [January 5th, 2024]
- Understanding the Role of the FDA in Advancing Psychedelic Therapy - Medriva - January 5th, 2024 [January 5th, 2024]
- MAPS PBC Closes $100m Series A, Rebrands to Lykos Therapeutics - Psychedelic Alpha - January 5th, 2024 [January 5th, 2024]
- Closing the innovation gap: Advancing psychedelic therapy and medicines in EU mental health care - Open Access Government - January 5th, 2024 [January 5th, 2024]
- The Austin Chronic: SXSW Is High on Psychedelics, as Cannabis Programming Wanes - Austin Chronicle - January 5th, 2024 [January 5th, 2024]
- This Forgotten Psychedelic Could Revolutionize Traumatic Brain Injury Treatment - Inverse - January 5th, 2024 [January 5th, 2024]
- A 'milestone' for psychedelics: Pentagon directed to study alternative treatments for veterans - Washington Times - January 5th, 2024 [January 5th, 2024]
- Psychedelic Drugs Are Rushing Towards Approval for Therapy. Here's What's Next - Singularity Hub - January 5th, 2024 [January 5th, 2024]
- The top 8 psychedelic books you need to read | GreenState - GreenState - January 5th, 2024 [January 5th, 2024]
- Lykos Therapeutics Secures $100M in Series A Funding, Rebrands from MAPS PBC - Green Market Report - January 5th, 2024 [January 5th, 2024]
- DEA Calls For Even More THC, Psilocybin And DMT To Be Produced For Research In 2024 - Marijuana Moment - January 5th, 2024 [January 5th, 2024]
- Here's What You Missed in Cannabis, Psychedelics This Week - TipRanks.com - TipRanks - January 5th, 2024 [January 5th, 2024]
- You're not tripping: State and local leaders give psychedelics another chance - Route Fifty - December 22nd, 2023 [December 22nd, 2023]
- Are Consciousness-Expanding Psychedelics Like Psilocybin More Effective Than Prozac, Zoloft, Xanax, and Other ... - Nautilus - December 22nd, 2023 [December 22nd, 2023]
- RFK, Ramaswamy And Williamson Push Psychedelics Reform On Presidential Campaign Trail - Marijuana Moment - December 22nd, 2023 [December 22nd, 2023]
- Peyote is the darling of the psychedelics renaissance. Indigenous users say it co-opts a sacred way of life - The Guardian US - December 22nd, 2023 [December 22nd, 2023]
- USask researchers explore untold history of psychedelics - News - University of Saskatchewan - USask News - December 22nd, 2023 [December 22nd, 2023]
- California Governor Says Psychedelics Have 'Profound' Healing Potential, But He's Undecided On Legalization Bill As ... - Marijuana Moment - September 25th, 2023 [September 25th, 2023]
- As psychedelic-assisted therapy grows, so does interest from a new group: chaplains - NPR - September 25th, 2023 [September 25th, 2023]
- This Maine City Moves Unanimously On Decriminalizing Psychedelics: Focus On Public Health - Benzinga - September 25th, 2023 [September 25th, 2023]
- Tech Leaders Are Finding Balance Through Microdosing Psychedelics - The Dales Report - September 25th, 2023 [September 25th, 2023]
- Chronic Pain Can Be Treated by Psychedelics, Survey Suggests - Psychedelic Spotlight - September 25th, 2023 [September 25th, 2023]
- Insights Into the First Psychedelic-Assisted Therapy Guidelines With ... - Psychedelic Spotlight - September 25th, 2023 [September 25th, 2023]
- Living with long-term cancer is depressing. Texas doctors say psychedelics could help - The Hill - July 19th, 2023 [July 19th, 2023]
- Couples Are Doing MDMA and Ketamine Therapy To Save Their Relationships - VICE - July 19th, 2023 [July 19th, 2023]
- The Way People Are Using Psychedelics Is Changing Amid Reform ... - Marijuana Moment - July 19th, 2023 [July 19th, 2023]
- [WATCH] Turn on, tune in, legalise: Could psychedelics be next in ... - MaltaToday - July 19th, 2023 [July 19th, 2023]
- Will Psychedelics Be Rescheduled After FDA Approval? - Harris Bricken - July 19th, 2023 [July 19th, 2023]
- The Psychedelic Preparedness Scale: A Tool to Optimize Trip ... - Filter - July 19th, 2023 [July 19th, 2023]
- How to Test Psychedelics for Adulterants with Testing Kits - Psychedelic Spotlight - July 19th, 2023 [July 19th, 2023]
- Cannabis Science Conference to debut in Providence, R.I., with ... - GlobeNewswire - July 19th, 2023 [July 19th, 2023]
- New Speaker Rivas weighs in on psychedelics, housing and health care worker minimum wage - Yahoo News - July 19th, 2023 [July 19th, 2023]
- TDR's Top 5 Psychedelic Developments For The Week Of July 10 - The Dales Report - July 19th, 2023 [July 19th, 2023]
- Psychedelic Treatment with Psilocybin Relieves Major Depression, Study ... - February 20th, 2023 [February 20th, 2023]
- Johns Hopkins Launches Center For Psychedelic Research - February 20th, 2023 [February 20th, 2023]
- Psilocybin Treatment for Major Depression Effective for Up to a Year ... - February 20th, 2023 [February 20th, 2023]
- Inside the Johns Hopkins Psilocybin Playlist - Hopkins Medicine - February 20th, 2023 [February 20th, 2023]
- Research Story Tip: Psychedelic Drug Psilocybin Tamps Down Brains Ego ... - February 20th, 2023 [February 20th, 2023]
- Psychedelics: Risks, benefits, and more - Medical News Today - February 18th, 2023 [February 18th, 2023]
- Psychedelic Drug Effects, Side Effects & Dangers - January 25th, 2023 [January 25th, 2023]
- Psychedelics Decriminalization Project In Berkeley, Cal Includes ... - January 6th, 2023 [January 6th, 2023]
- Ancient mummified child was drugged with psychedelics before ritual ... - December 14th, 2022 [December 14th, 2022]
- The therapeutic potential of psychedelics - Science - December 14th, 2022 [December 14th, 2022]
- Changing Lives with Psychedelics: How Connecticut researchers are using magic mushrooms to help people overcome depression, OCD - WTNH.com - November 19th, 2022 [November 19th, 2022]
- Penis Envy Mushroom | Legal Psychedelics | Magic Mushroom - November 7th, 2022 [November 7th, 2022]
- Psychedelics. Discussing natural and synthetic friends. Science, News ... - November 5th, 2022 [November 5th, 2022]
- The Harms of Psychedelics Need to Be Put Into Context - WIRED - November 5th, 2022 [November 5th, 2022]
- Packers' Aaron Rodgers says psychedelics led to his back-to-back MVP ... - October 28th, 2022 [October 28th, 2022]
- With Promise of Legalization, Psychedelic Companies Joust Over Future Profits - The New York Times - October 25th, 2022 [October 25th, 2022]
- How do psychedelics work? This brain region may explain their effects - PBS - October 21st, 2022 [October 21st, 2022]
- Why is the American right suddenly so interested in psychedelic drugs? - The Guardian - October 19th, 2022 [October 19th, 2022]
- Can Psychedelics Cure? Science Is on the Verge of Finding Out - Newsweek - October 19th, 2022 [October 19th, 2022]
- Large national survey suggests that the use of psychedelics is not associated with lifetime cancer development - PsyPost - October 19th, 2022 [October 19th, 2022]
- This Pharma Company Just Scored Another Psychedelics Patent And Set Its Sights On 70 More - Small Pharma - Benzinga - October 19th, 2022 [October 19th, 2022]
- What Made the Mushrooms Magic: Psychedelic Study Explores the Odd Evolution of Mind-Altering Fungi - The Debrief - October 19th, 2022 [October 19th, 2022]
- Psychedelics And Wellness: The Healing Company Buys PepsiCo-Backed Superfoods Company - (HLCO) - Benzinga - October 19th, 2022 [October 19th, 2022]
- What's on the Colorado ballot? Housing, psychedelics, school meals, alcohol, taxes and more | FOX31 Denver - FOX 31 Denver - October 19th, 2022 [October 19th, 2022]
- DoseConnect to Sponsor the Tech Stage at Wonderland Miami by Microdose - Benzinga - October 19th, 2022 [October 19th, 2022]
- What Is Going on With Bright Minds (DRUG) Stock Today? - InvestorPlace - October 19th, 2022 [October 19th, 2022]
- Psychedelics May Ease Fear of Death and Dying - October 17th, 2022 [October 17th, 2022]
- TDR's Top 5 Psychedelic Developments For The Week Of October 10 - The Dales Report - October 17th, 2022 [October 17th, 2022]
- DEA Wants To Boost Production Of Cannabis & Psychedelics For Research In 2023 - Benzinga - October 17th, 2022 [October 17th, 2022]
- Talk set to explore psychedelics and mental health - Reading Today - October 17th, 2022 [October 17th, 2022]
- Silo Wellness Closes Acquisition of Dyscovry Science and Its Psilocybin Pharmaceutical Biosynthesis and Research Portfolio - Yahoo Finance - October 17th, 2022 [October 17th, 2022]
- How does psilocybin rewire the brain? - Open Access Government - October 17th, 2022 [October 17th, 2022]
- HYTN Awarded Controlled Drugs and Substances Dealers License Allowing for Production and Sale of Psilocybin - Yahoo Finance - October 17th, 2022 [October 17th, 2022]
- The Healing Company acquires leading superfoods business, Your Super, and lands $150M credit facility to expand community of brands - Yahoo Finance - October 17th, 2022 [October 17th, 2022]