ATLANTA, Jan. 25, 2021 (GLOBE NEWSWIRE) -- OTC Stock Review was early to the party with an article on Seeking Alpha March 6, 2020 titled "Psychedelic Medicine Stocks Capture the Attention of Investors." Even though several of today’s market leaders were not public last March, since then several of the stocks covered in the article have made five and ten fold moves. Almost 11 months after that first article, it appears psychedelic stocks still have tremendous potential for explosive returns.
Many people did not take Colorado's legalization of cannabis seriously when the state started collecting tax revenue on marijuana sales in February 2014. Psychedelics are the next boom. The real money in psychedelics will be made from FDA approved drugs for the treatment of depression and mental health. Depression torments more than 264 million people worldwide. Mental health experts find a strong link between loneliness and depression and drug overdoses. According to national drug abuse data, drug overdoses have increased 42% since Covid-19 and mental health could cost the global economy up to $16 trillion annually by 2030. The numbers are staggering, but the needless loss of human lives from untreated mental health issues is heartbreaking. Mental health is something every one of us should be talking about.
Investment banks like Canaccord Genuity Group, Eight Capital, Gravitas Securities Inc., and Mackie Research Capital Corporation are also taking an interest by raising capital for psychedelic companies. The opening credits are on the screen, so grab a seat. Companies like Mind Medicine (MindMed) Inc. (OTCQB: MMEDF), Ehave, Inc. (OTC Pink: EHVVF), Numinus Wellness Inc. (OTC: LKYSF), and Field Trip Health Ltd. (OTC: FTRPF) are four great picks that could steal the show.
MindMed (OTCQB: MMEDF) offers the broadest and most diversified pipeline of psychedelic drugs in clinical development and R&D. According to the investor deck on MindMed's website, the Company estimates there is a $100+ billion global total addressable market for psychedelics. MindMed recently announced it would establish a digital medicine division known as Albert to research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with digital therapeutics.
MindMed’s potential addiction treatment, 18-MC, normalizes dopamine irregularities in patients. It is currently in Phase 1 human trials, and is expected to enter Phase 2 trials by the end of the year. The company is also pioneering Phase 2 microdosing trials for LSD and psilocybin in treating ADHD. Bruce Linton, the Founder and Former Chairman and CEO of Canopy Growth Corporation, serves as a member of MindMed's Board of Directors. Kevin O'Leary of Shark Tank fame, aka Mr. Wonderful, invested in MindMed in its $24.2 million funding round before going public on Canada's NEO Exchange. Mr. O'Leary is quoted as saying, "This could save lives, cure depression, help alcoholism, get people off opioids—why wouldn’t I want to be invested?" https://mindmed.co
Ehave, Inc. (OTC: EHVVF) has moved into a new trading range over the past few months as the Company announced it would be pioneering a platform for medical practitioners to administer ketamine intravenously to patients at home. Ketamine is primarily used to lessen the amount of potentially addictive pain medication required after certain medical procedures, but it is now being studied as a treatment for major depression, though it has not yet been approved by the FDA to treat depression. In March 2019 the U.S. Food and Drug Administration approved Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of depression in adults who have tried other antidepressant medicines but have not benefited from them (treatment-resistant depression). Esketamine is the s-enantiomer of ketamine. Ketamine is a mixture of two enantiomers and was approved by the FDA in 1970. The FDA granted the approval of Spravato to Janssen Pharmaceuticals, Inc., a pharmaceutical company headquartered in Beerse, Belgium and owned by Johnson & Johnson. Ehave is also upping its game by announcing recently it had filed to list on the OTCQB and Canadian Securities Exchange (CSE).
Several psychedelic companies with deeper pockets are looking to build and acquire ketamine clincs in both the U. S. and Canada. Ehave intends to provide Ketamine clinics and medical practitioners with software, staffing, protocols, and equipment as part of the KetaDASH platform. Ehave has designed a smart and intuitive Dashboard for KetaDASH that will make it simple for clients and associated nurses to get detailed insight on how the ketamine therapy is working. Patients will be able to create a profile, check availability of administering nurses, and schedule appointments. Ehave's strategy is to complement what these companies are doing by helping them generate revenue from patients they otherwise might not have. CEO Ben Kaplan said in a recent press release that as Ehave grows, the Company could potentially be an acquisition target for one of the industry leaders. Ehave recently sold 100% of its Mycotopia Therapy subsidiary, which owns 10% of the PsyTech conferences, to 20/20 Global Inc. As a result of the transaction closing, Ehave controls approximately 75.77% of the outstanding shares of 20/20 Global and has plans to distribute some of the shares to its shareholders. 20/20 Global plans to focus on securing deals in Jamaica and the Caribbean and file with FINRA to change the company name to Mycotopia Therapy. The transaction was the subject of an article in the Jamaica Gleaner, a leading Jamaican newspaper that has been published since 1834. The article titled "Ehave Magic Mushroom Company To Enter Jamaica - Taps Croskery As Director Of Subsidiary, Kaya As Wellness Adviser And Partner" can be found at http://jamaica-gleaner.com/article/business/20210115/ehave-magic-mushroom-company-enter-jamaica-taps-croskery-director. You can find more information on Ehave at www.ehave.com.
Numinus Wellness Inc. (OTC: LKYSF) has been granted a license by Health Canada to cultivate, extract, and sell “naturally sourced, sustainable psilocybin”, otherwise known as hallucinogenic magic mushrooms. According to the Company, it’s the only publicly traded company in Canada that is allowed to do so. Numinus aims to make psychedelic-assisted psychotherapy accessible through a network of health centers, or clinics, that provide safe, controlled, and therapeutic environments in which patients can heal and become well.
Numinus Wellness recently acquired Mindspace, a Quebec-based psychedelic programming leader and has plans to support practitioners across 4 clinic locations in Montreal and Vancouver. The Company supports three pathways for exploring psychedelic-assisted psychotherapy: First, practitioners at Mindspace in Montreal now offer Ketamine-assisted psychotherapy, which can be prescribed to address treatment-resistant depression. Second, pending approval of regulatory change, Numinus intends to support practitioners in helping their patients obtain Special Access to psychedelic-assisted therapies for a range of conditions and delivering these through the clinics in both Vancouver and Montreal. Third, Numinus is undertaking two compassionate access clinical trials, which will be conducted by our medical team in our Vancouver clinic. Both trials will be open to Canadian participants. https://numinus.ca
Field Trip Health Ltd. (OTC: FTRPF) is opening Field Trip Health centers across North America and Europe for the delivery of psychedelic therapies. The Company plans to conduct an observational study to assess whether Field Trip’s ketamine-assisted therapies, which have demonstrated significant efficacy in treating mental health conditions such as depression, anxiety and PTSD, translate into improvements in physical health through a variety of biometric measures collected via WHOOP Strap 3.0 including heart rate variability (HRV), resting heart rate, and overall sleep quality. Field Trip procured WHOOP products and access to additional data insights via a research partnership and enterprise program.
According to its website, Field Trip Health currently has ketamine clinics in Toronto, New York, Los Angeles, Chicago, Atlanta, Amsterdam, and Los Angeles. Ketamine-enhanced psychotherapy is conducted at lower doses of ketamine than what has been used safely in anaesthesia for decades. Esketamine, a ketamine-derived drug, was the first FDA-approved drug to treat depression in 35 years. Field Trip Health's therapy uses lower doses of ketamine medication in a safe setting alongside psychotherapy. These lower doses can promote better mental health by disrupting thought patterns or loops that may be preventing progress. Ketamine interacts with some of your brain’s neurotransmitters. Its effects can include relieving anxiety and pain relief, and acting as an antidepressant. Under medical supervision, lower doses of ketamine can relax your mind and allow you to temporarily disengage from your routine thought patterns. When combined with psychotherapy, studies found it can be helpful in reducing anxiety and depression.
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