PsyIndex Weekly Update

May 10, 2021 – May 14, 2021
The PsyIndex fell more than five percent last week, giving up some of its gains from earlier in the month of May. While the index has given up some ground, several companies have gone public in recent weeks, including Wesana Health Holdings Inc. (CSE: WESA), which is developing TBI treatments.
Weekly Performance: $118.91 (-5.66%)
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Corporate News, Deals & Listings

  • Wesana Health Holdings Inc. (CSE: WESA), a psychedelics life sciences company focused on developing treatments for TBI, began trading on the CSE. Press Release
  • Delic Holdings Inc. (CSE: DELC) (OTCQB: DELFC) announced that its acquisition target announced proposals to acquire two additional ketamine clinic locations. Press Release
  • Silo Pharma Inc. (OTCQB: SILO) announced that its study of psilocybin to treat Parkinson’s disease has been submitted for ethics board review in the Netherlands. Press Release
  • Havn Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) announced the development of a new method for rapid psilocybin testing. Press Release
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Featured Content

Why Are Analysts So Bullish on Cybin?

The global psychedelics market is projected to grow from $4.75 billion to $10.75 billion by 2027, according to Research and Markets, representing a strong 12.36% compound annual growth rate. With more than 40 public companies in the psychedelics sector and an exchange-traded fund, there is no shortage of opportunities for investors interested in the space.

Cybin Corp. (NEO: CYBN) (OTCQB: CLXPF) is one of the largest psychedelic companies with a market capitalization of around C$300 million. With a robust development pipeline and patent portfolio, the company is well-positioned to bring unique therapeutics that will target major depressive disorder, alcohol use disorder, and other conditions.

We take a look at what analysts are saying about the company, why they’re so bullish on the stock and the upcoming catalysts investors should keep an eye on.

Industry Developments

  • The First Phase 3 Success for Psychedelics Will Pave the Way for an Industry. via Barron’s
  • ‘Shark Tank’ Host Kevin O’Leary: Psychedelic Drugs ‘Far Exceed’ Cannabis Investment Potential. via CNBC
  • The Psychedelic Revolution is Coming. Psychiatry May Never Be the Same. via NYT

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