Issue 174

LSD, Ecstasy Lure Traders Betting on ‘Psychedelic Renaissance’

Bloomberg writes that, for years, investors that poured money into psychedelic stocks have wagered that their breakout moment — and the eye-watering returns that would quickly follow — were just around the corner. And year after year it’s been, by-and-large, a losing bet.

Now, three months into 2024, investors are once again piling in.

Shares of Mind Medicine Inc., or MindMed, have more than doubled this year, while GH Research Plc’s stock price has surged by roughly 85%. Billionaire-backed Atai Life Sciences NV has climbed more than 25%.

It’s easy to dismiss the gains as another false dawn in a sector that’s had plenty of them. Yet some of the $15 billion market’s most ardent observers say this time could really be different.

PORTLAND VA OPENS LAB TO TREAT VETERANS WITH PSYCHEDELICS

OPB reports that, last week the VA Portland Health Care System opened the Social Neuroscience & Psychotherapy Lab, known as the SNaP Lab. According to the publication, the lab is focused on psychedelic therapy and clinical trials.

Dr Christopher Stauffer, a psychiatrist, clinical researcher and director of social neuroscience and psychotherapy at Portland VA, discusses the new lab and its two clinical trials currently underway.

MICRODOSES OF LSD ENHANCE NEURAL COMPLEXITY

A recent study has shown that even very low doses of LSD can enhance the complexity of brain activity, a finding that might have significant implications for our understanding of consciousness and possibly for therapeutic applications, PsyPost reports.

According to the publication, the study found that LSD increased neural complexity and affected brain wave patterns associated with states of consciousness.

BUSINESS AND INVESTMENT

Algernon Pharmaceuticals has confirmed it will be moving forward with its DMT Stroke Research Programme as its Lead Asset.

Revive Therapeutics has provided an update on its psilocybin study for Methamphetamine Use Disorder.

Optimi Health has received its finished product test results and Certificate Of Analysis for its GMP Natural Psilocybin Extract.

Clearmind Medicine has submitted an International Patent Application for Preventing and Treating Depression.

SCIENCE AND RESEARCH

Forbes reports that female veterans are turning to ‘Digital Psychedelics’ for the treatment of PTSD.

According to new research, psilocybin might help prevent the loss of critical insulin-producing cells in the pancreas.

REGULATION AND LEGISLATION

The Vermont Senate has passed legislation to establish a Psychedelic Working Group.

Lex explores how interest in psilocybin continues to “mushroom” for potential mental health treatments.

ARTICLES OF INTEREST

A new network has been established to bring together researchers from across the UK to boost research into sustainable and equitable population health improvement, including mental health.

EIT Health has launched myEDIT-B’s new blood diagnostic test to differentiate between depression and bipolar disorder, working to ensure the solution reaches more countries in Europe and beyond