Five publicly traded companies have established themselves as early leaders in the evolving market for psychedelic-assisted therapies. Compass Pathways, MindMed, Numinus, Field Trip and Cybin are among the companies leading the field in market capitalization or the total market value of their outstanding shares. All five companies are receiving strong support from investors.
Lucid News talked with Lindsay Hoover, managing partner of the JLS Fund, to gain insights into how an investor looks at the market strategies of these companies which are developing therapies based on DMT, MDMA, ibogaine, psilocybin and LSD.
The JLS Fund was created to invest in companies at the intersection of science, technology and neurology with an eye on the potential of plant-based and psychedelic medicines to heal illness and enhance overall wellness. The fund is especially interested in tools that facilitate drug development and delivery and optimize therapeutic benefits. Hoover also independently invests in companies in the psychedelic space, including Lucid News.
So what does Hoover look for when evaluating the prospects of companies creating psychedelic therapies? One important criteria is how far a company has progressed in clinical trials that may lead to FDA approval of a therapy or a drug targeted for a specific condition. This analysis is part one of a two-part series that examines benchmarks that matter to managers of funds like JLS.
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