Psyched: Psilocybin Therapy For Depression, UK Rescheduling, US Policy Reform And More
Portfolio Pulse from Lara Goldstein
The Usona Institute has shared positive results from its Phase 2 trial assessing a single 25mg synthetic psilocybin dose for adults with Major Depressive Disorder. COMPASS Pathways (NASDAQ:CMPS) has also shared results from research on its novel AI technologies to support proprietary COMP360 psilocybin treatment for Treatment-Resistant Depression. In the UK, drug policy reform is underway, with a report urging the reclassification of psilocybin mushrooms and other psychedelics to Schedule 2. Several US states are also moving reform bills concerning the study or legalization of psychedelic substances for therapeutic purposes. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.79 on September 5, recovering from the prior week’s $1.65.
September 11, 2023 | 1:34 pm
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POSITIVE IMPACT
COMPASS Pathways shared positive results from its research on AI technologies to support psilocybin treatment for Treatment-Resistant Depression.
The positive results from COMPASS Pathways' research could potentially increase investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The AdvisorShares Psychedelics ETF opened at $1.79 on September 5, recovering from the prior week’s $1.65.
The recovery in the price of the AdvisorShares Psychedelics ETF could potentially indicate increased investor confidence in the sector, which could drive the ETF's price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100