'California Campaign Withdraws 2024 Ballot Measure To Create State Psychedelics Research Agency' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
A California campaign has withdrawn its proposed ballot initiative to create a $5 billion state agency for funding and promoting psychedelics research. The decision was influenced by recent polling showing 60% of likely California voters oppose state funding for psychedelic therapies. The campaign has announced the launch of a new TREAT Humanity campaign to explore mental health solutions more broadly. The proposed psychedelics institute would have identified opportunities for advancing scientific research into the therapeutic potential of psychedelics and facilitated the creation of 'care programs' for psilocybin and MDMA once approved for therapeutic use by the FDA.
November 03, 2023 | 3:29 pm
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NEGATIVE IMPACT
The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact Compass Pathways, a company involved in psilocybin research.
Compass Pathways is a company involved in psilocybin research. The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the company's research and development efforts and future funding opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact Cybin, a company involved in psychedelic research.
Cybin is a company involved in psychedelic research. The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the company's research and development efforts and future funding opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the ETF DRUG, which includes companies involved in psychedelic research.
The ETF DRUG includes companies involved in psychedelic research. The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the ETF and the companies it includes.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact Enveric Biosciences, a company involved in cannabinoid research.
Enveric Biosciences is a company involved in cannabinoid research. The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the company's research and development efforts and future funding opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact MindMed, a company involved in psychedelic research.
MindMed is a company involved in psychedelic research. The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the company's research and development efforts and future funding opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact Seelos Therapeutics, a company involved in psychedelic research.
Seelos Therapeutics is a company involved in psychedelic research. The withdrawal of the California ballot initiative for a state agency funding psychedelics research could potentially impact the company's research and development efforts and future funding opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70