The PsyIndex rose 18.25% last week in a sharp rebound from its drop the prior week. Compass Pathways Inc. was among the highest profile gainers, rising more than 17% throughout the week.
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Corporate News, Deals & Listings
- Havn Life Sciences (CSE: HAVN) announced that it would support the first movern psilocybin depression study in Germany. via CannabisFN
- MindMed (OTC: MMEDF) announced the completion of its Phase I clinical trial measuring the dosing effects of LSD. via CannabisFN
- Beckley Psytech appointed leading experts to its Scientific Advisory Board. via CannabisFN
- Entheon Biomedical announced the completion of its amalgamation and final approval from the Canadian Securities Exchange. via CannabisFN
- Nova Mentis Life Science (CSE: NOVA) acquisition target, Pilz Bioscience Corp., signed a manufacturing agreement. via CannabisFN
- Field Trip Health (CSE: FTRP) is preparing to enter Oregon’s market following the passage of Measure 109 in Oregon, creating the first legal market for psilocybin services. via CannabisFN
- The Multidisciplinary Association for Psychedelic Studies (MAPS) made a statement on Drug Policy Reform in the 2020 U.S. election. via CannabisFN
MagicMed Industries Inc., a developer of licensable psychedelic molecular derivatives, shortcut its commercialization timeline via a Research Contract and Facilities Use Agreement with the University of Calgary to support the development of its PsybraryTM.
We take a closer look at this agreement and what it means for the company as it gears up to go public in the middle of next year.
Cannabis extracts are projected to become a $28.5 billion market by 2027, according to Grand View Market Research, representing a 16.6% compound annual growth rate. As consumers transition from cannabis flower to oils, tinctures, edibles, topicals and other products, cannabis extraction companies are playing a key role in the next stage of the industry’s expansion.
There are hundreds of publicly traded cannabis companies, but few offer a pure play on extracts. On November 5, 2020, Pure Extracts Technologies Corp. (CSE: PULL) will become one of the few pure plays in the space following its listing on the Canadian Securities Exchange (CSE) under the ticker symbol “PULL”, providing easy access to the unique corner of the market.