Psyched: Australia's Innovative Program, Congressional Amendments, Therapy Reimbursement And More
Portfolio Pulse from Lara Goldstein
Australia has become the first country to allow physicians to prescribe MDMA for PTSD and psilocybin for treatment-resistant depression. In the US, lawmakers are seeking to advance drug policy changes as part of the National Defense Authorization Act (NDAA), including medical cannabis access for military veterans. The American Medical Association (AMA) has published language concerning the recently-approved Current Procedural Terminology (CPT) III codes applying to psychedelic-assisted therapies. COMPASS Pathways secured up to $50 million in a new term loan facility with Hercules Capital. AdvisorShares Psychedelics ETF (NYSE:PSIL) opened Monday, July 10 at $2.03, improving from prior Monday 3’s opening at $1.89.
July 11, 2023 | 3:25 pm
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COMPASS Pathways secured up to $50 million in a new term loan facility with Hercules Capital.
The secured loan provides COMPASS Pathways with additional capital, which could be used to further its research and development efforts, potentially leading to positive outcomes that could increase the company's stock value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
AdvisorShares Psychedelics ETF (NYSE:PSIL) opened Monday, July 10 at $2.03, improving from prior Monday 3’s opening at $1.89.
The increase in the opening price of the AdvisorShares Psychedelics ETF indicates a positive trend in the market for psychedelic stocks, which could continue to drive the ETF's price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100