Pot Company Gets License To Open Psilocybin Service Center, The Sacred Mushroom, In Oregon
Portfolio Pulse from Nina Zdinjak
Kaya Holdings Inc. (OTCQB:KAYS), a Florida-based cannabis company, has been granted a license by the Oregon Health Authority to operate a Psilocybin Service Center named The Sacred Mushroom in Oregon. This center, under its subsidiary Fifth Dimension Therapeutics, Inc., aims to provide psilocybin treatment in a unique setting, expecting to welcome its first guests within the next thirty days. The move is seen as a significant step in the mental health sector, with KAYS aiming to become a leader in psychedelic care delivery. Other companies like Compass Pathways (NASDAQ:CMPS), ATAI Life Sciences (NASDAQ:ATAI), and Cybin (AMEX:CYBN) are developing synthetic psilocybin for treatment-resistant mental health disorders, expected to be administered in centers like The Sacred Mushroom.
May 09, 2024 | 1:29 pm
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ATAI Life Sciences is engaged in developing synthetic versions of psilocybin, which could be administered in licensed centers like The Sacred Mushroom.
ATAI Life Sciences' focus on synthetic psilocybin aligns with the services offered by The Sacred Mushroom, suggesting potential collaboration or increased demand for ATAI's products in such centers.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
POSITIVE IMPACT
Compass Pathways is developing synthetic psilocybin, potentially to be administered at centers like The Sacred Mushroom.
As Compass Pathways develops synthetic psilocybin, the establishment of centers like The Sacred Mushroom by KAYS could provide a direct avenue for administering these treatments, potentially increasing demand for CMPS's products.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
POSITIVE IMPACT
Cybin is developing synthetic psilocybin and psilocin, which could be offered in psychedelic treatment centers like The Sacred Mushroom.
Cybin's development of synthetic psilocybin and psilocin positions it as a potential supplier for treatment centers like The Sacred Mushroom, indicating a possible increase in demand for CYBN's products.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75
POSITIVE IMPACT
Kaya Holdings has been licensed to operate The Sacred Mushroom Psilocybin Service Center in Oregon, marking a significant entry into the psychedelic treatment market.
Receiving a license to operate a Psilocybin Service Center positions KAYS at the forefront of the emerging psychedelic treatment market, potentially boosting its stock due to the innovative nature of the service and the growing interest in alternative mental health treatments.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100