PsyIndex Weekly Update May 17, 2021 – May 24, 2021

The PsyIndex rebounded more than 6% last week.

PharmaTher Holdings Inc. (CSE: PHRM) doubled in price after the FDA approved of its ketamine IND for the treatment of Parkinson’s disease. Meanwhile, investors are closely watching Filament Ventures following its capital raise and plans to list on the NEO Exchange.

Market Performance

Weekly Performance: $126.65 (6.43%)

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Corporate News, Deals & Listings

  • Delic Holdings Inc. (CSE: DELC) announced that its acquisition target, Complex Biotech Discovery Ventures, closed a non-brokered private placement. Press Release
  • MagicMed Industries Inc. (private) was acquired by Enveric Biosciences Inc. (NASDAQ: ENVB), combining its Psybrary(TM) with Enveric’s experienced clinical team. Press Release
  • Filament Ventures Corp. (private) announced a C$10 million offering and the filing of its initial listing application on the NEO Exchange. Press Release
  • PharmaTher Inc. (CSE: PHRM) announced the FDA approval of its ketamine IND for the treatment of Parkinson’s disease. Press Release
  • Cybin Inc. (NEO: CYBN) was granted IRB approval for a Phase II clinical trial of its sublingual psilocybin formulation for the treatment of major depressive disorder. Press Release
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Featured Content

Cybin Looks to Develop the Next Blockbuster Drugs

Psychedelics are an exciting development in neuropsychiatry because of their rapid onset and sustained therapeutic effect across multiple disorders, including depression, post-traumatic stress disorder, and substance use disorder. As evidence of safety and efficacy mount, researchers are starting to understand how these drugs work at a molecular level.

The potential for psychedelics to treat multiple under-served neuropsychiatric disorders also means potential blockbuster pharmaceuticals. For instance, Cybin Corp. (NEO: CYBN) (OTC: CLXPF) is planning to begin Phase IIA clinical trials for its psilocybin-based sublingually-delivered treatment for major depressive disorder—a $4+ billion market.

2nd Annual WWC Conference: Connecting Womxn in Cannabis and Psychedelics

The second annual Womxn, Wellness and Cannabis Conference will take place virtually on May 26-27, 2021. As the largest free virtual event of its kind, the WWC Conference brings together industry trailblazers in an inclusive, fun and educational online environment to celebrate the feminine cannabis and psychedelic experience through panel discussions, keynotes and live Q&A.

Industry Developments

  • Will psychedelics be a ‘revolution in psychiatry’? via Nature
  • California bill to legalize possession of psychedelics heads to Senate floor after committee action. via Marijuana Moment
  • The jury is still out on the effectiveness of microdosing psychedelics, experts say. via Business Insider

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