Jim Cramer discussed psychedelics on his June 15, 2021 program and said “The Science Behind Using Psychedelics To Treat Mental Health and Addiction Is Compelling”; big drug companies tried, and failed, to treat major depression. Here are four psychedelic companies you need to know about that are addressing the mental health crisis.
ATLANTA, June 16, 2021 (GLOBE NEWSWIRE) — Jim Cramer discussed psychedelics on his June 15, 2021 program and said, “The science behind using psychedelics to treat mental health disorders and addiction is compelling.” He also said big drug companies tried, and failed, to treat major depression. Those of us who have been in psychedelic stocks for the last year and a half heard him say that the big money is waking up!
Investors in psychedelic companies are watching diligently as magic mushrooms, LSD, Ketamine, Ibogaine, MDMA, DMT, and other currently illegal drugs have become household names. Many of these drugs are showing tremendous potential for treating depression, PTSD, and other mental health conditions, so the time has come for the sector to enter the mainstream as large investors start to invest in more psychedelic stocks. Jim Kramer sees the potential, so here are four psychedelic stocks that could be everyone’s favorites over the last half of 2021. The four stocks are Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), Ehave, Inc. (OTC: EHVVF), Compass Pathways (NASDAQ: CMPS), and Field Trip Health Ltd. (OTC: FTRPF).
The main reason for this increased interest in psychedelics is improved mental health. The real money in psychedelics will be made from FDA approved drugs for the treatment of depression and mental health. Depression is a common mental disorder affecting more than 264 million people worldwide. Mental health experts find a strong link between loneliness and depression and drug overdoses. According to national drug abuse data, drug overdoses have increased 42% since Covid-19 reared its ugly head. As a result, mental health disorders are on the rise in every country and could cost the global economy up to $16 trillion annually by 2030. The numbers are staggering, but outweighed by the loss of human lives. Mental health is something every one of us should be talking about.
Even though we have seen huge advances in modern medicine over the last 5o years, with the exception of serotonin and norepinephrine reuptake inhibitors in the 1980s and 1990s, the mental health industry has not had major advancements in pharmacological therapies for mood disorders until the FDA approved esketamine in March 2019. Johnson & Johnson developed the ketamine derivative and sells it as a nasal spray called Spravato, used for the treatment of depression.
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MindMed (NASDAQ: MNMD) is a psychedelic medicine biotech company that discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness, while offering the broadest and most diversified pipeline of psychedelic drugs in clinical development and R&D. The company is assembling a compelling drug development pipeline of treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT, and an Ibogaine derivative, 18-MC. The firm is having an approach towards developing the next generation of psychedelic inspired medicines and therapies. “Shark Tank” star and investor, Kevin O’Leary, says the size and scale of the market for treatment of mental health conditions like depression and PTSD shows “incredible potential,” which is probably why he is invested in MindMed and Compass Pathways, two public companies blazing a new path through the mental health market by focusing on psychedelic compounds.
MindMed is a clinical stage neuro-pharmaceutical drug development company developing product candidates based on psychedelic substances through rigorous science and clinical trials. MindMed’s business is premised on a growing body of research supporting the use of psychedelics to treat a myriad of mental health problems. For all product candidates, the Corporation will continue to proceed through research and development, and with marketing, if any, of the product candidates are ultimately approved, pursuant to the regulations of the FDA and international regulatory authorities. This entails, among other things, conducting clinical trials utilizing research scientists with extensive psychedelics backgrounds, using experienced clinical drug development teams, producing and supplying of drugs according to current Good Manufacturing Practices (“GMP”) and conducting all trials and development in accordance with the regulations of the FDA and other international regulatory authorities. MindMed recently announced that J.R. Rahn, the Company’s Co-Founder And Chief Executive Officer, is stepping down as Chief Executive Officer and Director, and that its chief development officer, Robert Barrow, will assume the position of Chief Executive Officer. For more information on MindMed visit https://mindmed.co.
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Ehave, Inc. (OTC: EHVVF) is kind of like the Uber Eats or DoorDash of intravenous based home Ketamine delivery with its KetaDASH subsidiary www.ketadash.com. Ehave acquired the assets of an IV delivery platform and turned it into the backbone of KetaDASH. KetaDASH will provide the software, staffing, protocols, and equipment for medical practitioners to administer Ketamine intravenously to patients at home. Companies like Field Trip Health currently operate ketamine-assisted psychotherapy clinics in major metro areas. But what about the folks who do not want to leave their homes for treatment? Ehave has designed a smart and intuitive dashboard for KetaDASH from where both clients and associated nurses can get detailed insight on how the Ketamine therapy is working. KetaDASH will allow patients who are prescribed Ketamine to receive required treatments in the safety and comfort of their homes. KetaDASH also provides Ehave the opportunity to build a revenue producing platform.
Ehave recently announced a deal with Health Wizz that will expand its Dashboard capabilities to include data management platform technologies which allow digitally captured information, like electronic health records (EHRs) to be shared. Ehave now offers its Dashboard users medical records management and retrieval through a dedicated instance on the AWS (Amazon Web Services) platform. Over the next few months we should see a branded mobile app on the App Stores. The Ehave partnership with Health Wizz will enable people to download, aggregate, and standardize all of their health records on their mobile phones. Ehave has also developed a medical passport that will give small businesses a tool to verify Covid-19 vaccination as most small businesses battle to come to terms on how to implement safety precautions. Many countries, like Switzerland, are launching COVID-19 certificates in coming weeks to ease travel. The big play on Ehave is KetaDASH. Ehave’s home IV delivery of ketamine rides on the coat tails of Spravato, the FDA approved nasal spray from Johnson & Johnson, which is a chemical cousin of ketamine. So far the only psychedelic with FDA approval for depression is Spravato. Also, Ehave has been in the digital therapeutics business for years with its Ehave Dashboard that can be used by clinicians and researchers to manage data during psychedelic research and trials. The Company also owns approximately 75.77% of another publicly traded company, Mycotopia Therapies. For more information on Ehave visit www.ehave.com.
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Compass Pathways (NASDAQ: CMPS) COMPASS Pathways plc (NASDAQ: CMPS) is pioneering the development of a new model of psilocybin therapy, in which psilocybin is administered in conjunction with psychological support. The Company’s initial focus is on treatment-resistant depression, or TRD, a subset of major depressive disorder, or MDD, comprising patients who are inadequately served by the current treatment paradigm. Early signals from academic studies, using formulations of psilocybin not developed by COMPASS Pathways, have shown that psilocybin therapy may have the potential to improve outcomes for patients suffering with TRD, with rapid reductions in depression symptoms and effects lasting up to six months, after administration of a single high dose. COMPASS Pathways has developed a proprietary, high-purity polymorphic crystalline formulation of psilocybin, COMP360. In 2019, the Company completed a Phase I clinical trial administering COMP360, along with psychological support, to 89 healthy volunteers, the largest randomized, controlled trial with psilocybin therapy to date. In this trial, COMPASS Pathways observed that COMP360 was generally well-tolerated and supported continued progression of Phase IIb studies. The Company is currently evaluating COMP360 in conjunction with psychological support in a Phase IIb trial and plans to report data from this trial in late 2021. COMPASS Pathways believes that a single dose of our COMP360 monotherapy with psychological support from specially trained therapists could offer a new approach to depression care.
Psilocybin is considered a serotonergic hallucinogen and is an active ingredient in some species of mushrooms. While classified as a Schedule I drug, there is an accumulating body of evidence that psilocybin may have beneficial effects on depression and other mental health conditions. The FDA and the DEA have permitted the use of psilocybin in clinical studies for the treatment of a range of psychiatric conditions. COMPASS Pathways recently reported further results from a phase I study showing that its COMP360 psilocybin had no clinically-relevant negative effect on cognitive function, when administered to healthy adult volunteers with support from specially trained therapists. One other item worth mentioning is that Compass Pathways has a world class Board of Directors and Scientific Advisory Board. Additionally, COMPASS Pathways will be participating in the H.C. Wainwright Psychedelics in Psychiatry and Beyond Virtual Conference. For more information on COMPASS Pathways plc visit https://compasspathways.com.
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Numinus Wellness Inc. (OTC: LKYSF) Field Trip Health Ltd. (OTC: FTRPF) is opening Field Trip Health centers across North America and Europe for the delivery of psychedelic therapies. The Company plans to conduct an observational study to assess whether Field Trip’s ketamine-assisted therapies, which have demonstrated significant efficacy in treating mental health conditions such as depression, anxiety and PTSD, translate into improvements in physical health. Field Trip Health currently operates ketamine clinics, which couple the psychedelic medicine with psychotherapy to treat conditions like treatment resistant depression and PTSD. Ketamine-enhanced psychotherapy is conducted at lower doses of ketamine than what has been used safely in anesthesia for decades. Esketamine, a ketamine-derived drug, was the first FDA-approved drug to treat depression in 35 years. Field Trip Health’s therapy uses lower doses of ketamine medication in a safe setting alongside psychotherapy. These lower doses can promote better mental health by disrupting thought patterns or loops that may be preventing progress. Ketamine interacts with some of your brain’s neurotransmitters. Its effects can include relieving anxiety and pain relief, and acting as an antidepressant. Under medical supervision, lower doses of ketamine can relax your mind and allow you to temporarily disengage from your routine thought patterns. When combined with psychotherapy, studies found lower doses of ketamine can be helpful in reducing anxiety and depression.
Field Trip completed a successful listing on the TSX in Canada and announced that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (“DTC”) in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a wider selection of brokerage firms. Field Trip also announced that it has applied to list its common shares on the NASDAQ, a move which would greatly increase the ability of US investors to participate in this growth. By the end of 2021, Field Trip anticipates being able to commence Phase 1 human trials for FT-104 and expects to have 20 Field Trip Health centers operating or under construction, including its existing and announced locations in New York, NY, Toronto, ON, Los Angeles, CA, Chicago, IL, Houston, TX, Atlanta, GA, San Diego, CA, San Jose, CA, Seattle, WA, Washington, DC, Fredericton, NB and Amsterdam, NL. For more information on Field Trip Health visit https://www.fieldtriphealth.com.
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Science Behind Using Psychedelics To Treat Mental Health and Addiction Is Compelling
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