Published on
August 26, 2022

Psychedelic Weekly Headlines | August 26th

Helping investors discover, understand, and stay up-to-date on market news and investment opportunities within the Psychedelic industry.


Performance of psychedelic public companies this past week.

Company News

Mind Medicine ($MNMD | $MMED) announced first patient dosing in their Phase IIb dose-optimization trial of MM-120, a pharmaceutically optimized form of LSD, for the treatment of Generalized Anxiety Disorder and completed their previously announced 1-for-15 reverse share split. Details

Algernon Pharmaceuticals ($AGN | $AGNPF) closed their private placement, raising $1.4M. Algernon will use the new growth capital to fund research and development programs including their upcoming Phase I DMT-Stroke study. In addition, Algernon's largest shareholder, AlphaNorth Asset Management, increased their ownership position in Algernon to over 13%. Details

PharmAla Biotech ($MDMA) has been selected as the MDMA manufacturing partner for a major Australian research institute's Phase III clinical trial. This will be the first-ever Phase III trial on MDMA in Australia. Press Release

Clearmind Medicine ($CMND | $CMNDF) provided positive pre-clinical results for treatment of cocaine addiction using MEAI, their novel psychedelic molecule. Early results showed that MEAI offered a significant decrease in cocaine cravings for 60% of test subjects. Press Release

B.More (Private) received FDA IND approval to begin a Phase IIb clinical trial to determine the efficacy and safety of synthetic psilocybin as a potential treatment for patients with Alcohol Use Disorder. The trial will be led by principal investigator, Michael Bogenschutz, Director of the NYU Langone Center for Psychedelic Medicine. Press Release

Wellbeing Digital Sciences ($MEDI | $KONEF) announced that their subsidiary, IRP Health, received approval by Veterans Affairs Canada, for their multidisciplinary Reactivation-branded therapy program at their new clinic in Toronto. Press Release

Awakn Life Sciences ($AWKN | $AWKNF) signed an agreement with a leading drug development company to in-license a proprietary formulation and administration for ketamine as a potential treatment for Alcohol Use Disorder. Press Release

PharmaDrug ($PHRX | $LMLLF) provided operational updates. PharmaDrug completed all necessary research on their lead DMT-analogue, extended contract with investigators at Johns Hopkins University and extended contract with investigator at University of Michigan. Press Release


Bloomberg: Psilocybin’s Legal Status Is Leading a Psychedelics Boom

The New York Times: Psilocybin Therapy Sharply Reduces Excessive Drinking, Study Shows

The Times: Dying Patients Are Fighting for Access to Psychedelics

VICE: Taking Psychedelics Helps People Face Mortality Like a Near-Death Experience, Study Finds

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