PsyIndex Weekly Update July 5, 2021 – July 9, 2021

PsyIndex Weekly Update

July 5, 2021 – July 9, 2021
The PsyIndex moved marginally lower last week, giving up some gains from the prior week. Meanwhile, investors continue to keep an eye on clinical results from many companies in the space.

Market Performance

Weekly Performance: $133.19 (-1.61%)

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Corporate News, Deals & Listings

  • Silo Pharma Inc. (OTCQB: SILO) extended its agreement for an experimental rheumatoid arthritis nanopartical homing peptide. Press Release
  • Mindset Pharma Inc. (CSE: MSET) revealed additional preclinical data showing strong efficacy and improved safety in a head-to-head comparison with psilocybin. Press Release
  • Atai Life Sciences N.V. (NASDAQ: ATAI) was added to the North American Psychedelics Index ETF (NEO: PSYK). Press Release
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Featured Content

Ketamine One Aims to Become a North American Mental Health Leader

We look at how KetamineOne Capital Ltd. (NEO: MEDI) (“Ketamine One” or the “Company”) plans to bring psychedelic treatments to patients and overcome some of the critical barriers in administering mental health treatments with technology.

Enveric Bio’s Acquisition of MagicMed Accentuates Strengths of Each Company

Enveric Biosciences (NASDAQ: ENVB) recently announced a definitive agreement to acquire MagicMed Industries Inc. The deal will essentially make MagicMed a wholly owned subsidiary of Enveric. In terms of the types of acquisitions noted above, this definitely falls into the complementary/adjacent category, and a review of each company points to the creation of a much stronger and more diverse organization as a result of the acquisition.

 

Industry Developments

  • Psilocybin spurs rapid growth of new nerve connections in mice. via Medical News Today
  • The Shroom Boom is coming soon. Here’s how to play it. via InvestorPlace
  • Third California city seeks to decriminalize psychedelics. via Marijuana Moment

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