Psyched: DEA's Denial Overruled, Fed Psychedelics Change, Psilocybin For Depression, States Reform & More
Portfolio Pulse from Lara Goldstein
The U.S. Court of Appeals overruled the DEA's denial of a psilocybin rescheduling lawsuit. Psychedelics company Cybin Inc. shared positive Phase 2 study results for its psilocybin analog CYB003 on Major Depressive Disorder. Several states are discussing psychedelics reform. The AdvisorShares Psychedelics ETF (PSIL) showed a recovery in its weekly performance. Psychedelics stocks GH Research, COMPASS Pathways, Mind Medicine, Enveric Biosciences, Silo Pharma, Bright Minds Biosciences, Atai Life Sciences, Incannex Healthcare, FSD Pharma, and Cybin Inc. all closed at varying prices.
November 07, 2023 | 12:02 am
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POSITIVE IMPACT
COMPASS Pathways closed at $6.41, recovering from the three immediately consecutive prior closings.
The recovery in the closing price of COMPASS Pathways could lead to increased investor confidence and a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cybin Inc. shared positive Phase 2 study results for its psilocybin analog CYB003 on Major Depressive Disorder.
Positive Phase 2 results are a significant milestone for Cybin Inc., potentially leading to increased investor confidence and a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mind Medicine closed at $3.09, recovering from three weeks’ past closings.
The recovery in the closing price of Mind Medicine could lead to increased investor confidence and a positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
The AdvisorShares Psychedelics ETF (PSIL) showed a recovery in its weekly performance.
The recovery in the weekly performance of the AdvisorShares Psychedelics ETF (PSIL) could lead to increased investor interest and a positive impact on the ETF's price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100