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Psychedelic drugs are going mainstream fast, with research supporting their effectiveness in alleviating emotional problems. Scientists continue to revisit different psychedelics such as LSD, magic mushrooms and other therapeutics for a range of mental ailments. Research is in full swing with the announcement from Johns Hopkins on its development of the Center for Psychedelic and Consciousness Research. With a $17 million commitment for planned studies, the research will further help in normalizing psychedelics. Therefore, the shroom boom has well and truly arrived, and investors should seriously consider adding psychedelic stocks to their portfolios.
Investor interest in psychedelics is on the rise as high-profile executives and celebrities are investing in the sector’s future. With such much interest in alternative psychedelic medicine, analysts believe that the sector could bring in over $6.85 billion by 2027. However, government support and widespread legalization are essential for its rapid advancement. With the recent legalization of psychedelics in various states, it won’t be long when they line up pharmacy aisles.
It is imperative to invest in psychedelic stocks that are needle-movers having the most potential for sustained success. Here are three that stand out right now:
- Champignon Brands (OTCMKTS:SHRMF)
- Mind Medicine (OTCMKTS:MMEDF)
- Hollister Biosciences (OTCMKTS:HSTRF)
Psychedelic Stocks to Buy: Champignon Brands (SHRMF)
Source: local_doctor / Shutterstock.com
Champignon Brands is among the first movers in the psychedelic medicine field and it completed its IPO earlier this year. It is engaged in the production of novel medications, specifically medicinal mushroom products, which aim to treat a variety of mental health problems. It boasts one of the strongest research teams led by its Special Advisory Committee, working diligently to provide high-quality data to its production team. Hence, SHRMF stock is among the hottest investments in the burgeoning psychedelics field.
It has been a busy 2020 for the Vancouver-based company. In April, it announced that it would be acquiring clinic operator AltMed Capital Corp, aiming at opening several subspecialty therapeutic clinics across the U.S. Additionally, the deal also provides several intellectual properties in developing novel medicines. Moreover, Champignon is also looking to open clinics for psychedelics, such as ketamine, psilocybin and MDMA throughout the North American continent.
It has six current trials in Phase I and pre-clinical stages collectively and seven patents pursuing ketamine/psilocybin solutions. To better reflect its scientific alignments, it is proposing a name change to Apotheosis Scientific Ltd. Therefore, with so much on its plate, the company can become a juggernaut among psychedelic stocks.
Mind Medicine (MMEDF)
MindMedicine is one of the largest biotechs involved in psychedelic drugs’ clinical development tackling mental health troubles. With the success of its Compass Pathways IPO, it is now looking to enlist on the U.S. stock exchange. It would become the second pure-play to be listed on Nasdaq. Hence, MMEDF stock is one of the top investments in the sector with massive potential.
It has three on-going clinical trials, which can be major
Our virtual MedCity INVEST Precision Medicine conference, December 9-11, will highlight aspects of precision medicine from the biopharma companies developing cell and gene therapies to diagnostics and the data sharing initiatives to support precision and personalized medicine.
One vexing part of any conversation on precision medicine and breakthrough therapies that have been developed and are continuing to work their way through clinical trials for cancer to rare disease is how to address the practical challenge of their high price tags. Although there are several models to cover the cost of these therapies such as Cigna’s Embarc Benefit Protection program, what happens when someone changes insurers when they change their job? What is fair for patients and what’s fair for companies? When do these conversations even start?
The panel, Reimbursement Models for Cell and Gene Therapies, will highlight some of the pros and cons of different models that are coming to market. Panelists include Laura Okpala, Director, Reimbursement Policy, Gilead Sciences, and Mark Trusheim, Strategic Director, NEWDIGS initiative at the MIT Center for Biomedical Innovation.
Here’s a preview of some of the sessions. Click here to see the agenda.
Interoperability Progress Report
How far have we progressed with sharing patient medical records? Patient data is key in unlocking riddles of medical science but interoperability is necessary to facilitate this. What companies are making an impact on a regional and national scale? What milestones are on the horizon? What obstacles continue to vex further advancement? How can we make medical records more accessible to patients?
Moderator: Elise Reuter, Senior Reporter, MedCity News
Kevin Chaney, Senior Program Manager, Office of the National Coordinator for Health IT
Ida Sim, M.D., Ph.D., Professor of Medicine, University of California, San Francisco
Niko Skievaski, Co-Founder and President, Redox
What It Takes To Build A Successful, Regional BioInnovation Hub
Philadelphia is one of many cities seeking to support the continued growth of cell and gene therapy and connected health industries. What do cities need to do to address education, training and other needs to support these sectors? This session will be held as part of Venture Cafe Philadelphia.
(sponsored by IBX)
Lisa Dalton, Chief People Officer, Spark Therapeutics
Audrey Greenberg, Executive Managing Director, The Discovery Labs
Tiffany Wilson, President & CEO, University City Science Center
Moderator: Michelle Histand, Director of Innovation, Independence Blue Cross
Register now and be part of the conversation at INVEST Precision Medicine.
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As we’ve all been learning to navigate the new normal of 2020, many of us have embraced a home workout routine. But if you’ve been hitting a plateau, it might be time for an upgrade with one of these must-have home fitness machines!
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