Psyched: Psilocybin For Gambling Addiction, Ex-NHL Player's Retreat, Fellini's LSD Creativity, Surveys, Financing & More
Portfolio Pulse from Lara Goldstein
Several studies and trials are set to assess the use of psilocybin-assisted therapy for various addictions and pain management. Former NHL player Kyle Quincey is building a psilocybin-assisted therapy center in Colorado. GH Research, Cybin, Enveric Biosciences, Red Light Holland, Incannex Healthcare, and Sunstone Therapies have made significant advancements in their respective programs. The AdvisorShares Psychedelics ETF has seen a consistent lowering trend in its price. GH Research, COMPASS Pathways, Mind Medicine, Bright Minds Biosciences, Enveric Biosciences, Silo Pharma, atai Life Sciences, Incannex Healthcare, FSD Pharma, and Seelos Therapeutics saw varied closing prices.
August 28, 2023 | 8:07 pm
News sentiment analysis
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NEGATIVE IMPACT
The AdvisorShares Psychedelics ETF has seen a consistent lowering trend in its price.
The consistent lowering trend in the ETF's price could discourage investors and potentially drive the price down further in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
COMPASS Pathways closed at $8.97, up following prior closings at $8.23 and $8.11.
The increase in the stock price could attract investors and potentially drive the price up further in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cybin has launched a renewed version of its ATM equity program for up to $35 million worth of shares.
The launch of the renewed ATM equity program could attract investors and potentially increase the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Enveric Biosciences has completed its psilocin prodrug manufacturing toward the completion of its preclinical program.
The completion of the psilocin prodrug manufacturing is a significant milestone for the company and could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GH Research reported Q2 2023 outcomes, including a $238 million cash position that would ensure a runway for its 5-MeO-DMT programs into 2026.
The company's strong cash position is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80