Psyched: $75M In Federal Funds, Gov. Polis Opens MAPS Event, CNN's Show, Dock Ellis' LSD Pitch & More
Portfolio Pulse from Lara Goldstein
A bipartisan bill has created a $75 million research grant program for the potential treatment of mental health conditions in active duty military members. The Multidisciplinary Association for Psychedelic Studies (MAPS) announced its final agenda for its upcoming event, which will include information on two recently-identified lead compounds. Psychedelics were featured on Anderson Cooper’s CNN show. Several companies, including Silo Pharma, Clearmind, and SciSparc, are developing treatments using psychedelics. The AdvisorShares Psychedelics ETF (PSIL) showed an uptrend.
July 03, 2023 | 9:01 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Psychedelics were featured on Anderson Cooper’s CNN show in a direct reply to Michael Pollan’s “How To Change Your Mind” — see Netflix’s book-based series.
The mention of Netflix in the context of a popular topic like psychedelics could potentially increase viewership of the mentioned series, but the impact on the stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Clearmind and SciSparc will conduct a study evaluating a combination of psychedelics and CannAmide for treating obesity and metabolic syndrome.
The study could potentially lead to the development of a new treatment, which could increase the companies' revenues and stock prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
The AdvisorShares Psychedelics ETF (PSIL) showed an uptrend after market close on Friday 16 at $1.84.
The news of the bipartisan bill and the developments in the psychedelics industry could have a positive impact on the ETF, as it invests in companies in this sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Silo Pharma is developing a novel ketamine implant for the treatment of fibromyalgia and chronic pain.
The development of a new treatment could potentially increase the company's revenue and stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100