This article was made possible thanks to invaluable research by Michael Haichin and Josh Hardman from Psilocybin Alpha.
In just a couple of years, psychedelics took the world of investing by storm.
What in 2019 was merely a buzzword for investors became a full-fledged industry boasting over 25 public companies, including six (and counting) that list their stock in the Nasdaq.
As the space progresses, investors are in search of data points that will enable them to track and compare the progress of psychedelics companies.
The sector is building itself as a complex industry with many verticals that range from specialized healthcare services to supply chain solutions and digital therapeutics.
However, drug discovery and development probably remain the most observed arm of the sector, as approval of psychedelic substances through the clinical trial pipeline is a clear path to revenue for any company in the space.
Taking these factors into account, Psilocybin Alpha built the Psychedelics Drug Development Tracker – an interactive list of clinical trials, preclinical and discovery work being done in the space.
Ongoing Phase 3 Trials
Currently, the only phase 3 clinical trial being carried out on a psychedelic molecule is MAPS’ study on the use of MDMA in post-traumatic stress disorder. The Multidisciplinary Association for Psychedelic Studies is a non-profit led by researcher Rick Doblin that has had a head start of at least three decades when it began its work to legalize the therapeutic use of MDMA as far back as 1986.
The organization expects to finish trials and be able to deliver MDMA therapy with FDA approval by 2023.
Ongoing Phase 2 Trials
A number of nonprofits, private and public companies in the space are pushing psychedelic substances through phase 2 clinical trials.
Compass (NASDAQ:CMPS) is currently working on a phase 2 trial of COMP360, a proprietary formulation of psilocybin being tested for treatment-resistant depression. Approval would grant the company five to seven years of exclusivity to market and commercialize psilocybin therapy and its protocols.
Wisconsin-based nonprofit Usona Institute is carrying out a phase 2 trial, which is looking at the use of psilocybin in around 80 patients with major depressive disorder.
Beyond form, the aforementioned phase 3 trial on MDMA for PTSD, the Multidisciplinary Association for Psychedelic Studies is also looking at MDMA for other indications in phase 2 trials such as eating disorders (anorexia nervosa and binge eating disorder), anxiety associated with a life-threatening illness and social anxiety in autistic adults.
Mind Medicine Inc. (NASDAQ:MNMD), better known as MindMed, is leveraging a wide-ranging partnership with the Lietchi Lab at University Hospital Basel in Switzerland to carry out two phase 2 clinical trials on LSD. One focuses on Anxiety and the other one on…