PsyIndex Weekly Update : August 10, 2020 – August 14, 2020

The PsyIndex fell 3.38% between Monday and Thursday as traders took profits following the prior week’s gains. Mind Medicine Inc. was one of the biggest winners following its expansion into Europe.



Top Gainers

Top Decliners


Corporate News, Deals & Listings

  • Revive Therapeutics Ltd. received its first set of orally dissolvable thin film strips for the delivery of psilocybin and other psychedelic-derived medicines through its partnership with the Reed Research Group. The company also signed a MOU with Attwill Medical Solutions for a Phase III clinical trial or Bucillamine in COVID-19.
  • PharmaDrug Inc. entered into a definitive agreement to acquire a retail establishment specializing in the sale of psychedelic products. The Target Smart Shop in the Netherlands will serve as an initial platform to build out its operations and brands around the world.
  • Mind Medicine Inc. expanded its presence in Europe and appointed Dr. Miri Halperin Wernli as Presdient to guide the company’s clinical development strategy and provide further leadership to its R&D pipeline. The company also announced its second quarter financial results.
  • Tryp Therapeutics partnered with Albany Molecular Research Inc. to manufacture a proprietary psilocybin-based drug.
  • Mydecine Innovations Group provided a corporate update that included several new appointments and details on its New Leaf Brands deal and seed financings.

Previously Announced Upcoming Listings

  • Field Trip Psychedelics Inc. announced a letter of intent with Newton Energy Corporation (TSX.V: NTN.H). In addition, the company plans to complete a brokered private placement of common shares at a price of $2.00 per common share for gross proceeds of between $14 million and $15 million.
  • Silo Wellness Inc. announced a proposed reverse takeover with Yukoterre Resources Inc. (CSE: YT). In connection with the transaction, the company will complete a private placement for gross proceeds of approximately $2.5 million.
  • Entheon Biomedical Corp. announced a definitive amalgamation agreement with MPV Exploration Inc. to list on the CSE. In conjunction, it will complete a non-brokered private placement of subscription receipts to raise C$2 million in working capital.
  • Havn Life Sciences announced the launch and filing of its preliminary prospectus.
  • Novamind Ventures Inc. signed a letter of intent with Hinterland Metals Inc. and undertook a $3 million non-brokered private placement to go public on the Canadian Securities Exchange (CSE).
  • Mindset Pharma Inc. signed a letter of intent with North Sur Resources Inc. and aims to raise $1 million in a private placement to go public on the Canadian Securities Exchange (CSE).
  • Magical Brands Corp. updated its plans to list on the TSX Venture exchange through its three-cornered amalgamation with Good2Go Corp. (TSXV: GOTO.P).

Industry Developments

  • The FDA approved a ketamine nasal spray as a new antidepressant option for people at a high risk of suicide. via NPR

Unlimited Sciences teamed up with Johns Hopkins Center for Psychedelic and Consciousness Research to study real-world use of psilocybin. via PR Newswire

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