A shroom boom is in the works, led by encouraging results from psychedelic medicine treatments for various issues associated with mental health, and in connection to potential global law changes.
Here the Investing News Network presents a current list of psychedelics stocks to watch. The following stocks are all listed on public stock exchanges and are arranged alphabetically.
Aion Therapeutic
In addition to its recent move into the psychedelics arena, Aion Therapeutic (CSE:AION) operates in the cannabis industry with a licensed production line in Canada.
As far as its psychedelics business goes, the company’s lead, Dr. Stephen D. Barnhill, has said Aion is pursuing novel formulations of various natural compounds, including psilocybin and fungi.
Algernon Pharmaceuticals
Algernon Pharmaceuticals (CSE:AGN,OTCQB:AGNPF) is a clinical-stage pharma company with Phase 2 clinical studies being conducted in the disease areas of idiopathic pulmonary fibrosis, chronic cough and COVID-19.
In early 2021, Algernon launched a clinical research program for stroke treatment focused on AP-188 (N,N-Dimethyltryptamine or DMT). DMT is a psychedelic compound that is part of the tryptamine family, which includes psilocybin and psilocin. The company plans to begin a clinical trial as soon as possible.
Allied
Originally a cannabis-focused company, Allied (OTCQB:ALID) began shifting its focus to psilocybin in early 2021. Allied is fully integrated across the value chain, and brings a variety of psilocybin and cannabis formulations to the health and wellness market. Its products target depression, anxiety and post-traumatic stress disorder (PTSD).
ATAI Life Sciences
ATAI Life Sciences (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company developing novel drugs, including psychedelics, to treat various mental health diseases such as addiction, depression, anxiety and PTSD. ATAI recently raised US$225 million in a NASDAQ initial public offering.
Awakn Life Sciences (NEO:AWKN,OTC Pink:AWKNF)
Awakn Life Sciences has clinical operations geared at researching, developing and delivering psychedelic medicine to treat addiction. It is the only company in the world providing evidence-backed ketamine-assisted psychotherapy for alcohol use addiction through its near-term ketamine for reduction of alcoholic relapse protocol.
The biotech company recently announced it is undertaking a clinical research program designed to demonstrate the effectiveness of ketamine-assisted psychotherapy against multiple addictions.
BetterLife Pharma
BetterLife Pharma (CSE:BETR,OTCQB:BETRF) is an emerging biotechnology company working to develop and commercialize psychedelic products for the treatment of mental disorders in Canada, the US, Australia and the European Union. The company is also developing drug-delivery platform technologies targeting virus infections, such as the coronavirus disease and human papillomavirus, as well as specific types of cancer.
Better Plant Sciences
Wellness firm Better Plant…
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