When it comes to psychedelics, the market might be in a slump, but everything else, from research to policy reform, continues to move in the right direction. At least, that’s how Kelsey Ramsden, CEO of Mindcure Health (CNSX: MCUR) (OTCMKTS: MCURF) sees it.
“There was this whole shroom boom narrative which was amazing and lovely, and we all benefitted from it, but when we actually look at the practical nature of drug development, it’s a long game with huge pay-offs, if it works,” she said. “The idea of trying to manage something on a day-trading basis? This isn’t the space for day-trading.”
Ramsden said given the falling prices of most stocks, “it’s a good place for people who are actually interested in holding a stock for a little bit and seeing some early-stage results.”
For those already invested in Mindcure, Ramsden said it helps that her company has a significant amount of cash and a source of near-term revenue. “Investors can feel pretty sound that we’re going to be around for a while,” she said, alluding to the company’s novel ibogaine program, which she admitted she’s been intentionally quiet about.
“We don’t like to talk about what we’re going to do, we want to talk about what we did do.”
Ramsden also discussed the need for mental health treatments beyond what is currently available and suggested that even though ketamine treatments are legal and available to many North Americans, they continue to be out of reach due to the high costs associated with them.
“People are not taking to ketamine therapy as quickly as I think the industry had hoped, and why is that? I think it’s because still a lot of it is out-of-pocket, and the people who are hurting the most maybe can’t afford it just yet,” she said.
“That’s not to say we’re not going to get there. It’s just to say that our predictions for the next 12 months won’t be as robust, and you can see that playing out with the clinic companies.”
Watch the interview in its entirety to hear more from Ramsden on drug-assisted psychotherapy, Health Canada’s special access program, and Mindcure’s Desire Project.
The Desire Project – https://bit.ly/2XRVon6