TDR’s Top 5 Psychedelic Developments For The Week Of December 4
Welcome to TDR’s review of the Top 5 Psychedelic Developments for the week of December 4. Aside from presenting a synopsis of events, we provide market commentary to summarize the week that was for publicly-listed companies.
Cybin Inc. announced that the United States Patent and Trademark Office has granted U.S. patent 11,834,410 in support of its CYB003 program.
The patent, which is expected to provide exclusivity until at least 2041, includes composition of matter claims to pharmaceutical compositions within the Company’s proprietary deuterated psilocybin analog program, CYB003, as well as claims directed toward the therapeutic treatment of major depressive disorder, treatment-resistant depression, and alcohol use disorder.
Global pharmaceutical giant Johnson & Johnson expects neuroscience to play a pivotal role in its newly-announced revenue goals, including two rising stars in adjunctive depression that are slated to rake in at least $1 billion each by 2030.
The healthcare giant touted fresh revenue goals for its pharmaceuticals unit at a Tuesday Enterprise Business Review event. Executives showcase the rise of neuroscience R&D as a top priority. Two of those, seltorexant and aticaprant, are currently in phase 3 trials slated to read out next year.
Widely Held Psychedelic Stocks Weekly Performance
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3. Mixed Week For Psychedelic Stocks As Biotech Stocks Gain
The psychedelic sector was mixed this week, as reflected by the Advisorshares Psychedelics ETF (PSIL) ↑0.75%. The performance was inline with peer biopharma indices such as the Nasdaq Junior Biotechnology Index ↑2.15% and Nasdaq Biotechnology Ishares ETF↑1.04%. The broad stock market indices NASDAQ 100 ↓0.86% and S&P 500 ↓0.99% fell amid a volatile week of trade.
Here’s how the Health Care (Biotechnology) sector performed:
In the news…
ATMA Journey Centers announced the opening of a licensed Calgary Clinic and the establishment of the Psychedelic-Assisted Therapy Healthcare Network, a national clinical network for the emerging psychedelic-assisted therapy sector.
California ballot initiative to legalize psychedelics filed a final revised measure with state officials this week, making a handful of changes to the proposal following a public comment period that ended late last month.
Clearmind Medicine announced the achievement of positive results in addiction treatment for its revolutionary treatment targeting cocaine addiction.
COMPASS Pathways study results of psilocybin treatment in bipolar II depression published in JAMA Psychiatry.
COMPASS Pathways has appointed Teri Loxam as Chief Financial Officer (CFO), effective the beginning of March 2024. She will be based in the company’s New York City office. Teri will serve as an advisor during the period leading up to her appointment as CFO.
Co-op selling support services with a free side of psilocybin mushrooms has caught the attention of the Denver District Attorney, but legal experts admit that current state laws have loopholes that might allow the co-op to escape punishment.
Core One Labs announced the signing of an Initial Agreement with Cube Psytech Corp. marking a significant step towards exploring the potential sale of biosynthetically produced psilocybin, or the licensing of its proprietary method for biosynthetic psilocybin production technology.
Cybin Inc. announced the presentation of four posters at the American College of Neuropsychopharmacology annual meeting taking place December 3-6, 2023, in Tampa, Florida. The data presented include topline data from its Phase 2 study of CYB003 in major depressive disorder.
Enveric Biosciences has identified three novel compounds from its EVM301 Series with the potential to offer a first-in-class approach to address difficult-to-treat disorders by promoting neuroplasticity without inducing hallucinations.
Filament Health announced that, further to its press release dated December 6, 2023, the company has filed amended pro forma financial statements.
Filament Health has entered into a definitive securities purchase agreement with Helena Global Investment Opportunities 1 Ltd., an affiliate of Helena Partners Inc., a Cayman-Islands based advisor and investor and 1427702 B.C. Ltd., providing for up to USD$14.4 million in funding through the issuance of senior secured convertible notes.
FunGuyz spokesperson, Samer Akila, served a Notice of Constitutional Question on the federal and provincial governments putting them on notice that he intends to legalize psilocybin in his London, Ontario court case.
Gilgamesh Pharmaceuticals will initiate its Phase IIa trial investigating GM-2505, a novel 5-HT2A receptor agonist, in Q1 2024, chief scientific officer Andrew Kruegel told the Clinical Trials Arena.
Lobe Sciences provided an update from the Company’s lead clinical program, L-130, a proprietary stabilized psilocin conjugate drug candidate.
LSD and psilocybin could offer promising therapeutic potential for the treatment of chronic pain “on a mechanistic and experiential level,” according to a newly published literature review that highlights scientific findings.
Massachusetts voters could soon decide whether to legalize “magic mushrooms.” Supporters of the psychedelic treatment said this week they’ve turned in enough signatures to allow for a ballot question in 2024.
Massachusetts activists say local election clerks across the state have certified that they turned in more than enough valid signatures to force legislative consideration of a psychedelics legalization initiative before potentially putting the issue on the state’s 2024 ballot.
MYND Life Sciences announced the immediate appointment of Mr. John (Jay) Campbell as President and Chief Executive Officer.
MYND Life Sciences announced the appointment of Mynd Life Sciences current CEO and Director, the Hon. Dr. Lyle Oberg, E.C.A., as the Board Chair of Alberta Health Services.
Numinus CEO Payton Nyquvest speaks to TDR following Q4/2023 financial results…
Optimi Health announced the signing of a supply agreement with Sunshine Earth Labs Ltd., a fellow British Columbia-based biosciences company licensed by Health Canada.
Oregon: The state is fine-tuning its rules and the practitioners are sharing their best practices. The result is an emerging cottage industry where great care is taken not to further traumatize those seeking help.
San Francisco 49ers Offensive Lineman Jon Feliciano announcing his support for the Multidisciplinary Association for Psychedelic Studies.
Terran Biosciences announced the notice of allowance by the USPTO for four US patents covering the world’s first new forms of psilocybin and other breakthroughs.
Transcend Therapeutics is hoping to rise above the competition with an early cut of phase 2 data showing its MDMA analog reduced the severity of the condition in patients.
Ukrainian MP calls on the EU to help his country become a hub for psychedelic research, as huge PTSD crisis looms.
Results of a new clinical trial published by the American Medical Association “suggest efficacy and safety” of psilocybin-assisted psychotherapy for treatment of bipolar II disorder, a mental health condition often associated with debilitating and difficult-to-treat depressive episodes.
In the nonrandomized controlled study, which was conducted at Sheppard Pratt Hospital in Baltimore, “12 patients met both response and remission criteria” at the end of a 12-week study period, the trial found, meaning that measures of the diagnosis had dropped by more than half and fell below a minimum threshold.
Bipartisan and bicameral congressional lawmakers have reached an agreement on a large-scale defense bill that contains a House GOP-led section to fund studies into the therapeutic use of psychedelics such as psilocybin and MDMA for military service members.
Following negotiations, lawmakers released the conference report for the 2024 National Defense Authorization Act (NDAA) on Wednesday evening, maintaining psychedelics research provisions championed by Rep. Morgan Luttrell (R-TX) that were attached to the House version over the summer. The report notes, however, that the House negotiators receded on a separate section to create a medical cannabis pilot program for veterans.