PsyIndex Weekly Update – June 7, 2021 – June 11, 2021

June 7, 2021 – June 11, 2021
The PsyIndex soared more than 15% last week as ATAI Life Sciences, a bellwether of the psychedelics industry, announced that it would look to raise up to $214 million, putting its value at up to $2.3 billion.

Market Performance

Weekly Performance: $140.44 (15.04%)

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Corporate News, Deals & Listings

  • atai Life Sciences announced the launch of an initial public offering on the NASDAQ under the symbol “ATAI”. Press Release
  • PharmaDrug Inc. (CSE: BUZZ) launched a psilocybin retail platform online in the Netherlands. Press Release
  • Silo Pharma Inc. (OTCQB: SILO) announced a collaboration with UCSF to study psilocybin as an anti-inflammatory agent in Parkinson’s and bipolar patients. Press Release
  • NeonMind Biosciences Inc. (CSE: NEON) announced that Vitasave will carry its functional mushroom products. Press Release
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Featured Content

Medxtractor Looks to Transform Mobile Health with Machine Learning

Machine-Learning (“ML”) (sometimes referred to as artificial intelligence or “AI”) has experienced a renaissance over the past five years thanks to a combination of big data, fast processors, and new algorithms. ML is all around us; from stock trading to autonomous vehicles, ML is already transforming a wide range of industries by finding patterns in massive datasets and delivering actionable intelligence.

Medxtractor Corp. (CSE: MXT) (OTC: MXTTF) is leveraging ML, through its SHAMAN program, to predict probable mental illnesses, and the potential effects of various drugs, including psychedelics, on those illnesses. SHAMAN is a diagnostic tool with an over-arching goal of reducing misdiagnosis rates to increase the efficiency of the overall health system.

We take a look at why improved diagnostics are necessary in mental health and how SHAMAN is well-positioned to address the industry’s shortcomings through ML.

Industry Developments

  • Crypto, Cannabis Backers Turn to Psychedelics with New UK IPO. via Bloomberg
  • Psychedelics: The Eight Capital Primer. via The Deep Dive
  • What Do You Really Know About Psychedelics and Psychedelics Stocks? via Benzinga

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