Streetbeat News

MYCOF

Mydecine Innovations Group Inc

https://newagefarminc.com/

Employees

7

Industry

Bottled Water Manufacturing

Open

0.00

Mkt cap

106K

Volume

51K

High

0.00

P/E Ratio

-0.04

52-wk high

0.10

Low

0.00

Div yield

N/A

52-wk low

0.00

The global psychedelic drugs market is projected to grow from $4.88 billion in 2023 to $10.2 billion by 2028, driven by increased mental health awareness and regulatory changes. Companies like Pfizer, Johnson & Johnson, and Mydecine Innovations Group are advancing in this sector.

Portfolio Pulse from Juan Spínelli

October 28, 2024 | 10:39 pm

PATOO, a Jamaica-based psychedelic CPG brand, has partnered with Fontana Pharmacy to introduce the first legal psilocybin-infused products to Jamaican pharmacy shelves. This move marks a significant step toward broader acceptance of psychedelic wellness products. Several publicly traded companies are at the forefront of developing and commercializing psychedelic therapies, including Compass Pathways, Atai Life Sciences, Cybin Inc., Mind Medicine, Mydecine Innovations Group, Seelos Therapeutics, and Revive Therapeutics.

Portfolio Pulse from Javier Hasse

July 31, 2024 | 12:00 pm

Cybin Inc. (NYSE:CYBN) and Small Pharma Inc. (OTC:DMTTF) shareholders have approved the acquisition of the latter by the former. The FDA has issued a warning about the misuse of ketamine and ketamine-based drugs. The DEA has extended telemedicine flexibilities for controlled medications until the end of 2024. California Governor Gavin Newsom has vetoed a bill to decriminalize certain hallucinogens. Congress is discussing kratom product regulation. The AdvisorShares Psychedelics ETF (NYSE:PSIL) continues to show a downtrend in its opening price. Several psychedelic stocks, including GH Research (NASDAQ:GHRS), COMPASS Pathways (NASDAQ:CMPS), and Mind Medicine (NASDAQ:MNMD), also closed lower.

Portfolio Pulse from Lara Goldstein

October 16, 2023 | 7:57 pm

Mydecine Innovations Group, a biotech company focused on psychedelic-based drugs, has begun trading on the UK's AQSE Growth Market under the ticker MYIG. The company is at a pivotal phase in its development and is working on its 2nd generation molecules, with human clinical studies expected to commence in 2024. Mydecine shares closed 28.19% higher at 0.12 cents per share.

Portfolio Pulse from Nina Zdinjak

October 12, 2023 | 1:43 pm

A recent study by the Federal Reserve indicates that cannabis and psychedelics consumption has reached all-time highs in 2022, particularly among adults aged 35-50. In other news, COMPASS Pathways (NASDAQ:CMPS) has entered into a securities purchase agreement for an initial $125 million and a potential additional $160 million, while MindMed (NASDAQ:MNMD) has secured a $50 million senior secured credit facility with K2 HealthVentures. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.8 on August 14, slightly below prior openings.

Portfolio Pulse from Lara Goldstein

August 21, 2023 | 2:55 pm

Mydecine Innovations Group (OTC:MYCOF) has released its financial results for Q2 2023, showing a cash position of $29.987, R&D expenses of $75.417 and $181.656 for three and six months respectively, and total expenses of $1.96 million and $4.9 million for the same periods. The net loss attributable to common stockholders was $2.36 million and $8.03 million for three and six months respectively. The company's accumulated deficit was $109.117.914. Mydecine is developing psychedelic compounds for medical use, including a psilocybin-derived smoking cessation drug and short-acting chemical MDMA analogs for anxiety and pain treatment.

Portfolio Pulse from Lara Goldstein

August 15, 2023 | 9:44 pm

Jamaica-based Rose Hill, a cultivator, supplier, and exporter of premium psilocybin products, has launched its first wellness retreat program, ONE Retreats, and its vegan psilocybin gummies, PATOO. The company operates through three main channels: science and R&D, its legal psychedelic CPG line PATOO, and ONE Retreats. Rose Hill has an ongoing export contract with clinical-stage company Mydecine Innovations (OTC:MYCOF) since March 2021 and is planning to apply for a manufacturing and services license in Oregon.

Portfolio Pulse from Lara Goldstein

August 04, 2023 | 9:24 am

Mydecine Innovations Group (OTC:MYCOF) has filed a shelf prospectus supplement for the distribution of up to 15,151,515 common shares at $0.24 per share, raising up to $3.68 million. The company recently developed a new set of MDMA analogs with positive preclinical trial outcomes. However, its Q1 2023 financial statements may raise concerns.

Portfolio Pulse from Lara Goldstein

May 31, 2023 | 12:30 am

Terran Biosciences discovers new psilocybin compounds, MindMed's LSD study for anxiety treatment enrolls and doses 100 participants, and PharmAla receives Health Canada's approval for MDMA treatment. UK Parliament debates accelerating psychedelics research and psilocybin rescheduling.

Portfolio Pulse from Lara Goldstein

May 23, 2023 | 11:56 pm

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