Psyched: Germany Ships LSD Prodrugs Via DHL, Minneapolis Decriminalizes, Wiz Khalifa's Magic Pitch & More
Portfolio Pulse from Lara Goldstein
Minneapolis Mayor Jacob Frey has signed an executive order deprioritizing criminal prosecution for possession, use, purchase, cultivation and engaging in practices with “entheogenic plants or plant compounds. German company Acid Berlin is selling a reportedly legal LSD prodrug and shipping it through DHL Group to clients based in Berlin. Reunion Neuroscience is on the brink of going private with final court approval. Filament Health gets ready to uplist to NASDAQ in a $210M SPAC deal. Sales of Johnson & Johnson esketamine drug Spravato rose nearly 100% year-over-year. PharmaTher's DMT patch showed positive outcomes, investment toward the clinical stage. Enveric Biosciences unveiled positive results from animal studies of its psilocin prodrug for anxiety. Core One Labs entered a LOI for the first sale of its psychedelic biosynthetic compounds. AdvisorShares Psychedelics ETF opened Monday, July 24, at $1.94, dropping from prior Friday’s closing at $1.99.
July 24, 2023 | 9:14 pm
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NEGATIVE IMPACT
AdvisorShares Psychedelics ETF opened Monday, July 24, at $1.94, dropping from prior Friday’s closing at $1.99.
The ETF's opening price was lower than its closing price on the previous trading day, which could indicate a negative short-term trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
DHL Group is being used by Acid Berlin to ship LSD prodrugs to clients in Berlin.
While DHL Group is being used to ship these products, it's unclear how much this will impact their overall business.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Reunion Neuroscience is on the brink of going private with final court approval.
Going private can have a significant impact on a company's stock, but the exact impact will depend on the details of the deal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sales of Johnson & Johnson's esketamine drug Spravato rose nearly 100% year-over-year.
A significant increase in sales of a specific drug can have a positive impact on a pharmaceutical company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100