Math Over Myth: Weekly roundup of psychedelic stocks

Several psychedelic stocks released tangible updates this week regarding the execution of their respective fundamental strategies. With a dismal September for the sector in the background and the onset of October already sending money flowing back into equities, will the psychedelic performance of equities finally start to reflect the hype?

Cybin (NYSE: CYBN)

Cybin Obtains Exclusive License to New Catalog of Psychedelic-Based Compounds: Cybin paid Mindset a one-time licensing fee of $500,000 with additional milestones payable upon successful completion of certain future milestones to acquire a large targeted class of molecules based on tryptamine. The acquisition gives CYBN access to a catalog of molecules that complement Cybin’s current preclinical library, with both complementary chemistry and properties; expands CYBN’s discovery and development platform to provide a sustainable lead and pipeline of future drug candidates while expanding the space where CYBN has protected access to patent-eligible molecules and formulations; and strengthens the scope and breadth of CYBN’s intellectual property protection in support of continued investment in psychedelic therapies for mental health disorders. CYBN stock is down about 49% year-to-date (YTD).

Numinus well-being (OTC: NUMIF, TSE: NUMI)

Numinus develops mushroom tea for use in psychedelic research: Numinus Bioscience has developed a tea bag containing psilocybin for use in clinical research and, if the appropriate regulatory approvals are granted, eventual treatment of clients in therapy psychedelic assisted. The research behind the teabag involved the development of processes and procedures to deliver 25mg per dose and the use of validated strains of Numinus from Psilocybe cubensis. The tea bags will be studied in a Phase 1 trial of practitioners receiving experiential training for psilocybin-assisted therapy for use in Numinus research, including trial partnerships at Cedar Clinical Research, the management division of Numinus clinical trials. The product has also been submitted to Health Canada for inclusion on the list of psilocybin providers for the Federal Special Access Program, through which healthcare providers can apply to provide psilocybin-assisted therapy, among other therapies. psychedelic-assisted patients with demonstrable need. . NUMIF stock is down about 52% year-to-date.

MindMed (Nasdaq: MNMD, NEO: MMED)

MindMed Collaborators Initiate Phase 1 PK/PD Comparative Trial of R-, S-, and Racemic MDMA: The Phase 1 trial is a randomized, placebo-controlled, double-blind, 5-period crossover study. The trial plans to enroll 24 healthy subjects, who will receive R-MDMA (125 and 250 mg), S-MDMA (125 mg), MDMA (125 mg) and placebo. The primary outcome measures of this trial will assess acute subjective effects using visual analogue scales (VAS) and 5 dimensions of altered states of consciousness (5D-ASC). Secondary endpoints will assess autonomic effects (blood pressure, heart rate, body temperature), mood on days following administration, endocrine effects, plasma concentration, and complementary subjective effects (EVA, AMRS, SCQ, PIQ ). MNMD shares are down around 85% since the start of the year.

ATAI Life Sciences (Nasdaq: ATAI)

atai Life Sciences Announces First Subject Treated in Phase 1 Trial of Oral and IV VLS-01, a Synthetic Form of DMT: The Trial is a Randomized, Double-Blind, Placebo-Controlled Study Designed to Assess Relative Bioavailability buccal versus IV formulations, the safety and tolerability of VLS-01 administered by both routes, and the pharmacodynamics of DMT using qEEG and other measures. Buccal VLS-01 is formulated to provide a psychedelic experience lasting 30-45 minutes, potentially allowing for shorter clinical visits compared to many other psychedelic compounds which may require a patient to be monitored for four hours or more. Behavioral assessments, in conjunction with pharmacokinetic and safety readouts, should inform the design and doses tested in future Phase 2 clinical trials of VLS-01. ATAI stock is down about 57% since the start of the year.

Mindset Pharma (OTC: MSSTF, CNSX: MSET)

Mindset Pharma selects “Family 2” lead clinical candidates from its next-generation psychedelic drug portfolio: MSP-2020 and MSP-2003 are both novel and patentable compounds. They are covered by Mindset’s USPTO (United States Patent and Trademark Office) patent, number 17/387,864, entitled “3-Pyrrolidine-Indole Derivatives as Serotonergic Psychedelic Agents for the Treatment of CNS Disorders”. Mindset has received Notice of Allowance from the USPTO for this application. In side-by-side comparisons with psilocybin and psilocin, both drug candidates elicit in vitro and behavioral responses consistent with a stronger and shorter acting psychedelic effect than psilocybin and a significantly reduced half-life. These drug candidates are being developed as optimized next-generation psychedelic drug candidates for the treatment of mental health disorders. MSSTF stock is down about 45% year-to-date.

Scientific Braxia (OTC: BRAXF, CSE: BRAX)

KetaMD Expands Access to Breakthrough Ketamine Therapy in Florida to Combat Growing Mental Health Crisis and Shortage of Mental Health Care Providers: KetaMD is a wholly owned subsidiary of BRAX that provides access to home ketamine treatments for people with depression and related mental health issues through its recently launched virtual platform and mobile app available to Florida residents. KetaMD offers safe, affordable, accessible and reliable mental health treatment options. The KetaMD team is also available to support people with depression and mental health issues who have been impacted by Hurricane Ian. Ketamine is rapidly gaining notoriety as a proven treatment for various mental health conditions such as treatment-resistant depression. KetaMD is committed to addressing the growing mental health crisis and alleviating the growing shortage of mental health care providers in Florida and across America, two issues further exacerbated by the COVID-19 pandemic. BRAXF stock is down about 47% year-to-date.

Therapeutic TRYP (OTC: TRYPF, CSE: TRYP)

Tryp Therapeutics announces the publication of an international PCT patent application for the intravenous delivery of psilocin and psilocybin: the patent application includes a unique and proprietary formulation and delivery system to enhance the positive effects of psilocybin and particular of psilocin, while greatly reducing the limits of psilocybin dosed by other routes of administration, including oral, nasal, and sublingual. Oral administration, while convenient, presents several limitations and challenges that TRP-8803 can address. TRYPF stock is down about 52% year-to-date.

Irwin Naturals (OTC: IWINF, CNSX: IWIN)

Irwin Naturals Agrees to Add Clinic Idaho to its National Chain of Psychedelic Mental Health Clinics: IWIN has acquired Ketamine Infusions of Idaho, which operates a clinic in Idaho Falls. The clinic will join Irwin Naturals Emergence, a rapidly growing national chain of psychedelic mental health clinics, which has already reached agreements to add a total of 11 clinics in six different states. This clinic will be the first of the chain in Idaho. IWINF stock is down 43% since the start of the year.

Revive Therapeutics (OTC: RVVTF, CNSX: RVV)

Revive Therapeutics Provides Update on Phase 3 Clinical Trial for Bucillamine in COVID-19: Bucillamine is an oral medication with anti-inflammatory and antiviral properties, in patients with mild to moderate COVID-19. The RVVTF has been in communication with the FDA to submit a revised protocol with a new primary efficacy endpoint, specifically, assessing the difference in the proportion of participants with at least two clinical improvements in COVID-19 symptoms on day 14 compared to baseline between bucillamine versus placebo. If the FDA agrees with the revised protocol, the Data Safety Monitoring Board (“DSMB”) will review complete post-dose screening data from approximately 500 subjects in the context of the new primary endpoint. RVVTF makes no express or implied representation that its product has the ability to eliminate or cure COVID-19 (coronavirus SARS-2) at this time. RVVTF stock is down 45% year-to-date.

Craig D. Schlesinger is the CFO of PSYC Corp & Spotlight Media and a market analyst with over twenty years of experience predicting price movements and trend reversals in various industries. Follow her #MathOverMyth technical analysis and him on Twitter: @PSYCCraig

Math Over Myth Primer | Myth Mathematics Archives

Craig does not hold any positions in ATAI, BRAX, CYBN, IWINF, MNMD, MSSTF, NUMI, RVVTF, TRYP

*For the purposes of this article, all percentages are approximated and rounded to the nearest percentage point from market data provided by Google Finance near market open on October 6, 2022