PALM BEACH, Fla., April 14, 2021 /PRNewswire/ — The psychedelics industry may appear to have suddenly emerged as one of the hottest corners of the stock market, but researchers have been working for decades to show the efficacy of these treatments and regulators are just starting to appreciate the possibilities. Investors could see strong growth in the industry as companies commercialize breakthrough therapeutics while patients could finally have access to life-changing treatments for a range of mental health conditions that have no effective treatment options today. A recent article by CFN Media Group focused on the newly born psychedelics industry in terms of both its revenue potential and the valuations that investors are assigning to companies in the space. Another article said: “The market for psychedelic drugs is projected to grow from just over $2 billion last year to about $6.9 billion by 2027, according to Data Bridge Market Research, which represents a blistering 16.3% compound annual growth rate over the forecast period.” The report authors note that psychedelic drugs are becoming increasingly accepted in the treatment of major depressive disorder, treatment-resistant depression, panic disorder, post-traumatic stress disorder, opiate addiction, eating disorders, and fibromyalgia, among other things. Active companies in news today include: Minerco, Inc., Pure Extracts Technologies Corp. (OTCPK: PRXTF) (CSE: PULL), Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF), PharmaTher Inc. (CSE: PHRM) (OTCQB: PHRRF), Havn Life Sciences Inc. (CSE: HAVN) (OTCPK: HAVLF), Psyence Group Inc. (CSE: PSYG).
The CFN article then focused on the investors, saying that: “The growing body of research supporting psychedelics and more widespread acceptance has led to an explosion of investment in the sector. In addition to more that 25 public companies in the space, there are hundreds of privately held companies drawing investment dollars. Peter Thiel, a famous investor in Facebook and PayPal, became the industry’s most high-profile investor in the space. Meanwhile, Compass Pathways plc has nearly doubled since its debut on the NASDAQ with a market capitalization of nearly $2 billion.
Minerco, Inc. “The Magic Mushroom Company” BREAKING NEWS – MINERCO RETAINS LOBBYING FIRM TO SUPPORT EFFORTS TO DECRIMINALIZE PSILOCYBIN IN DETROIT AND SURROUNDING AREAS – Minerco, Inc. (trading on the OTC Markets under the Symbol MINE) today announced that it has retained a lobbying firm to play an expanded role in the Company’s lobbying efforts. The firm will be joining forces with Minerco’s government relations staff to decriminalize psilocybin in Detroit, Michigan and surrounding areas. Ann Arbor, Michigan recently joined Denver, Colorado; Oakland, California, Santa Cruz, California; and Washington, D.C. as cities across the nation that have decriminalized naturally occurring psychedelics sometimes referred to as entheogenic plants and fungi.
Read more:Market For Psychedelic Drugs Expected to Reach $6.9 Billion By 2027