ATLANTA, Feb. 11, 2021 (GLOBE NEWSWIRE) -- OTC Stock Review: Unless you have been hiding under a rock for the last year, you probably know psychedelic stocks have been among the biggest movers on Wall Street. New leaders may emerge, but the reason for this increased interest in psychedelics is improved mental health. We have said it before, and we will say it again, 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. Finding a treatment for those 264 million people suffering from depression are what it’s all about. No one deserves to live in a state of depression. 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. Psychedelic-assisted psychotherapy could provide needed options for debilitating mental-health disorders including PTSD, major depressive disorder, alcohol-use disorder, anorexia nervosa and more that kill thousands every year in the United States, and cost billions worldwide in lost productivity.
OTC Stock Review introduced a large number of investors to the psychedelic sector with an article on Seeking Alpha March 6, 2020 titled "Psychedelic Medicine Stocks Capture the Attention of Investors." Even though several of today’s market leaders were not public last March, since then several of the stocks covered in the article have made five and ten fold moves. Almost a year later we are still focusing on psychedelic stocks and the potential treatments for depression and improving mental health.
Companies like Mind Medicine (MindMed) Inc. (OTCQB: MMEDF), Ehave, Inc. (OTC Pink: EHVVF), COMPASS Pathways plc (NASDAQ:CMPS), and Field Trip Health Ltd. (OTC: FTRPF) are four companies that could have an impact on the lives of those suffering from depression.
MindMed (OTCQB: MMEDF) is a neuro-pharmaceutical company that has initiated clinical studies to evaluate potential treatments to help patients with ADHD, anxiety, and substance abuse. MindMed also offers the broadest and most diversified pipeline of psychedelic drugs in clinical development and R&D. MinMed estimates there is a $100+ billion global total addressable market for psychedelics. On January 20, 2021 MindMed announced it has started the first ever clinical trial measuring and evaluating MDMA and LSD used in combination in the human body. The trial will be conducted at the University Hospital Basel Liechti Lab, in Basel, Switzerland. If administered in combination with LSD, MDMA may increase positive subjective drug effects, including positive mood and empathy, and reduce the negative emotions and anxiety that are sometimes associated with LSD - producing an overall more positive experience.
MindMed is also investing in people. The Company recently announced the addition of Robert Barrow, an accomplished pharmaceutical executive, as Chief Development Officer. Mr. Barrow has over a decade of experience leading drug development programs aimed at identifying and testing novel treatments in a wide range of disease conditions under FDA and EMA. He most recently served as Director of Drug Development & Discovery at the Usona Institute, where he oversaw preclinical, clinical and regulatory development efforts for all of Usona’s development programs in psychedelics. Bruce Linton, the Founder and Former Chairman and CEO of Canopy Growth Corporation, serves as a member of MindMed's Board of Directors. Kevin O'Leary of Shark Tank fame, aka Mr. Wonderful, invested in MindMed in its $24.2 million funding round before going public on Canada's NEO Exchange. You can find more information on MindMed at https://mindmed.co
Ehave, Inc. (OTC: EHVVF) Ehave, Inc. (OTC: EHVVF) is like a two for one psychedelic punch. The Company is pioneering its KetaDASH platform to provide Ketamine clinics and medical practitioners with software, staffing, protocols, and equipment to administer ketamine intravenously to patients at home. Not only is Ehave looking to work with ketamine clinics for home delivery, the Company recently sold its Mycotopia Therapies subsidiary to 20/20 Global. As a result of the sale, Ehave controls approximately 75.77% of the outstanding shares of 20/20 Global and has plans to distribute some of the shares to its shareholders. So, any important development on 20/20 Global is also an important development for Ehave. 20/20 Global has filed with FINRA to change its name to Mycotopia Therapies and has requested its symbol be changed to MYCO. Mycotopia Therapies announced Monday plans to establish PsyBioMed, a global subsidiary which will be involved in the manufacturing, licensing and worldwide sale of genetically optimized yeast to produce psychedelics. These biosynthetic compounds are expected to be pharmaceutically pure and 100% identical to Psychedelics strains found in nature at a fraction of the cost of cultivated plant material, making them promising contenders to replace synthetic and plant-extracted analogs. Ehave (EHVVF) will provide data gathering and sharing to PsyBioMed to help the Company research, develop, and build an integrated technical platform and comprehensive toolset with the goal of delivering psychedelic inspired medicines and experiential therapies. The digital therapeutics services provided by Ehave will enable real time information in clinical trials, while providing a clearer understanding of the impact on patient outcomes.
PsyBioMed also plans to contribute to accelerating research and development of psychedelics for various mental health disorders, like chronic pain and addictions, while helping the industry become more sustainable over the long term by making psychedelic care accessible and affordable to everyone in need of it globally. The long term goal of PsyBioMed is to produce the best quality psychedelic molecules and lower costs and make them accessible for all academic research organizations, pharmaceutical companies and various healthcare institutions globally. PsyBioMed will be 51% owned by 20/20 Global through its Mycotopia subsidiary and 49% by Fremont California based Biomedican www.biomedican.com, with the profits being split equally between 20/20 Global and Biomedican. Biomedican has developed a proven technology with 4 patents pending for producing pharmaceutical-grade, 100% organic, non-GMO rare cannabinoids, including CBG, CBGA, THCV, THCVA, CBN, CBNA, and high-value compounds, like Astaxanthin, at 70-90% lower cost than conventional methods utilizing its Organic Biosynthesis Platform. These patented biosynthetic methods use yeast fermentation to ensure the efficient production of high-quality compounds. In contrast to chemically synthesized compounds, the compounds produced by Biomedican are 100% organic, non-GMO biosynthetic products identical to those extracted from plants. Biomedican and its officers have been featured, or quoted, in news sources like Forbes, NASDAQ, Bloomberg, Reuters, BioFuels Digest, and Axios. Additionally, Ehave has filed to list on the OTCQB and Canadian Securities Exchange (CSE). You can find more information on Ehave at www.ehave.com.
COMPASS Pathways plc (NASDAQ:CMPS) operates as a mental health care company in the United Kingdom and the United States. It develops COMP360, a psilocybin formulation, which is in Phase IIb clinical trial to treat patients with treatment-resistant depression. On September 18, 2020 Compass came public at $17.00 per share and has traded as high as $61.69, after an $80 million private financing round. The private round included PayPal co-founder, Peter Thiel. COMPASS Pathways plc is currently rated a buy at Berenberg Bank, Canaccord Genuity, Cowen, Evercore ISI, and HC Wainwright. Institutional investors own 15.78% of the COMPASS Pathways plc's outstanding shares.
COMPASS Pathways plc recently announced that it has expanded its Discovery Center, through collaborations with world-leading laboratories at UC San Diego, School of Medicine, and Medical College of Wisconsin. Adam Halberstadt PhD, Associate Professor, Psychiatry, UC San Diego, and John D McCorvy PhD, Assistant Professor, Department of Cell Biology, Neurobiology and Anatomy, MCW, and their teams, will join Jason Wallach PhD, Assistant Professor of Pharmaceutical Sciences, University of the Sciences (Philadelphia), at the Discovery Center. COMPASS Pathways plc is pouring big money into psilocybin-based treatment; COMP360 is in Phase 2 trials for treatment resistant depression. In Europe COMPASS Pathways plc was granted a U.K. patent, adding to its U.S. patent and German utility model. You can find more information on COMPASS Pathways plc at www.compasspathways.com
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 through a variety of biometric measures collected via WHOOP Strap 3.0 including heart rate variability (HRV), resting heart rate, and overall sleep quality. Field Trip procured WHOOP products and access to additional data insights via a research partnership and enterprise program.
According to its website, Field Trip Health currently has ketamine clinics in Toronto, New York, Los Angeles, Chicago, Atlanta, Amsterdam, and Los Angeles. Ketamine-enhanced psychotherapy is conducted at lower doses of ketamine than what has been used safely in anaesthesia 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 it can be helpful in reducing anxiety and depression.
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