TDR’s Top 5 Psychedelic Developments For The Week Of March 7

Welcome to TDR’s review of the Top 5 Psychedelic developments for the week of March 7. Aside from presenting a synopsis of events, we provide market commentary to summarize the week that was for publicly-listed companies.

5. Numinus Adds Ayahuasca & San Pedro to Federal License for Psychedelic Research

Numinus Wellness Inc. (TSE:NUMI) (OTCMKTS: NUMIF)  has received approval from Health Canada to study Ayahuasca and San Pedro at its licensed, state-of-the-art research facility, Numinus Bioscience. This license expansion will further position Numinus as a recognized global research centr e for natural psychedelic medicines, and supplements the current work Numinus is already undertaking on Psilocybe species and inherent synergistic compounds.

This exciting advancement at Numinus broadens our study of naturally occurring ethnobotanical substances and admixtures and the synergies of the compounds. This is a first step  in  helping us better understand their mechanisms and potential therapeutic applications.

Sharan Sidhu , Science Officer and General Manager, Numinus Bioscience

Through renewal of its Dealers’ License, Numinus Bioscience is now permitted to work with San Pedro cactus, the beta-carbolines harmaline and harmalol, and the following botanical materials: Banisteriopsis caapi, Psychotria viridis, Diplopterys cabrerana, Mimosa tenuiflora .

4. Washington Initiative Proposes Legalization Of Psilocybin Use

If a ballot initiative in Washington state passes into law, state residents and visitors will be able to enjoy facilitated sessions of psilocybin use.  The proposed ballot measure would make the primary psychoactive component of psychedelic mushrooms, psilocybin, fully legal for use in contexts with trained facilitators.  Individuals age 21 and older in the state would be permitted to use psilocybin after undergoing a screening process.  The purpose of the screening process is to help prevent negative effects from the use of psychoactive substances.

The proposal detailed above was filed by supporters with the ADAPT-WA political action committee.  The group is now working to raise funds and also obtain signatures to qualify the proposal for the upcoming ballot this November.  The hope is that the measure passes to provide a legally sanctioned and secure means of accessing psychedelic mushrooms.

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Total Clinical Trial Starts Increased 14% To Decade Highs in 2021—Psychedelic Starts Will Outpace (%) Biotech Industry

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3. Biopharma Stocks Mixed As Broad Markets Remain Volatile

The biggest psychedelic stocks were mixed this past week as volumes generally remained subdued. The Horizon Psychedelic Stock Index ETF (PSYK) fell ↓0.87% while the Nasdaq Junior Biotechnology Index (↑2.34%) and Nasdaq Biotechnology Ishares ETF (↓1.56%) were mixed. The broad markets generally remained weak throughout, with NASDAQ 100 ↓3.88% and S&P 500 ↓3.08% resting near 9-month lows. Here’s how the…