Psyched: A $100M Donation Pledge, Frank Biden Gets Candid, New Search Trends & More
Portfolio Pulse from Lara Goldstein
The Multidisciplinary Association for Psychedelic Studies (MAPS) sponsored a Psychedelic Science conference in Denver, attracting over 12,000 attendees. New York Mets owner Steve Cohen announced a $5 million grant for MAPS’ ongoing clinical studies toward FDA approval of MDMA-assisted therapy for PTSD. Toms Shoes founder Blake Mycoskie pledged to donate and invest $100 million in organizations and projects advancing psychedelic-assisted therapies. SEMRush (NYSE:SEMR) analysis revealed a shift in America's consciousness towards psychedelics and cannabis. Several companies received regulatory approvals and patents, and announced partnerships and financial results.
July 04, 2023 | 2:21 pm
News sentiment analysis
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POSITIVE IMPACT
BetterLife Pharma is aiming to fast-track its patent application for non-hallucinogenic LSD derivatives, which could potentially increase the company's value.
The fast-tracking of the patent application by BetterLife Pharma could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Daiichi Sankyo inked a sponsored research agreement with Australian startup Psylo for R&D on antidepressant medicines, which could potentially increase the company's value.
The research agreement between Daiichi Sankyo and Psylo could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Enveric Biosciences is developing a new formulation of its psilocin prodrug targeting Generalized Anxiety Disorder (GAD), which could potentially increase the company's value.
The development of a new formulation by Enveric Biosciences could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Healthcare treatment provider Stella acquired Field Trip’s assets to further broaden its treatments offer, which could potentially increase the company's value.
The acquisition of Field Trip’s assets by Stella could potentially increase the company's value as it shows their commitment to expanding their treatments offer.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
FSD Pharma is to grant a new business the exclusive rights to recreational applications for its alcohol misuse technology to accelerate detox, which could potentially increase the company's value.
The granting of exclusive rights by FSD Pharma could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lobe Sciences’ related compound targeting Chronic Cluster Headaches (CCH) has began the clinical path, which could potentially increase the company's value.
The initiation of the clinical path for Lobe Sciences’ compound could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
MindMed’s shareholders have voted for the company’s nominees at the annual meeting, opting for the continuation of the current R&D path, which could potentially increase the company's value.
The shareholders' vote at MindMed’s annual meeting could potentially increase the company's value as it shows their commitment to the current R&D path.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mindset Pharma received U.K. regulatory approval to commence a Phase 2 trial on its psilocin compound for the treatment of Major Depressive Disorder (MDD), which could potentially increase the company's value.
The regulatory approval received by Mindset Pharma could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
PharmaTher Holdings entered a partnership with marketing company Vitruvias Therapeutics for commercializing its ketamine products in the U.S. market, which could potentially increase the company's value.
The partnership between PharmaTher Holdings and Vitruvias Therapeutics could potentially increase the company's value as it shows their commitment to expanding their market reach.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SEMRush's analysis revealing America's growing interest in psychedelics and cannabis could potentially increase the company's relevance and visibility.
The analysis by SEMRush is likely to increase the company's visibility and relevance as it provides valuable insights into a growing trend. This could potentially attract more users to their platform and increase their revenues.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Silo Pharma got a new U.S. issued patent covering its anti-arthritis molecule, which could potentially increase the company's value.
The new U.S. issued patent received by Silo Pharma could potentially increase the company's value as it shows their commitment to innovation and their ability to potentially bring new products to market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Cybin Inc. posted their financial results for the period, which could potentially impact the company's stock price.
The financial results posted by Cybin Inc. could potentially impact the company's stock price. However, without specific details on the results, it's difficult to predict the direction of the impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Small Pharma posted their financial results for the period, which could potentially impact the company's stock price.
The financial results posted by Small Pharma could potentially impact the company's stock price. However, without specific details on the results, it's difficult to predict the direction of the impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
AdvisorShares Psychedelics ETF (NYSE:PSIL) opened slightly higher than market closing price on Monday, July 3. The yearly price range for this ETF is set between $4.35 and $1.65.
The opening price of AdvisorShares Psychedelics ETF on July 3 was slightly higher than the market closing price. However, without specific details on the market conditions, it's difficult to predict the direction of the impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Reunion Neuroscience posted their financial results for the period, which could potentially impact the company's stock price.
The financial results posted by Reunion Neuroscience could potentially impact the company's stock price. However, without specific details on the results, it's difficult to predict the direction of the impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80