The PsyIndex rallied nearly 36% to $188.61 last week in a broad sector-wide rally.
Whitefish, Montana–(Newsfile Corp. – December 15, 2020) – PsyIndex.com, a leading index of public and private companies operating in the psychedelics industry, owned and operated by CFN Enterprises Inc. (OTCQB: CNFN), today released its latest weekly Update.
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PsyIndex.com’s Psychedelics Index rallied nearly 36% to $188.61 last week in a broad sector-wide rally. Psychedelic companies have seen growing support from the FDA and international regulatory bodies for clinical programs while investors continue to pour capital into upsized capital raises and public companies in the space.
PsyIndex.com’s Psychedelics Index
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Compass Pathways Inc. rose 5.5% last week and its biggest shareholder, ATAI Life Sciences, raised $125 million. ATAI’s capital raise sets a new record by surpassing Compass Pathways’ previous $80 million capital raise record.
Cybin Inc. rose nearly 28% last week and closed its acquisition of Adelia Therapeutics Inc. on Monday. The acquisition provides a range of psychedelic derivative drug candidates with clinical studies anticipated to begin next year.
MindMed rose 75% last week and announced a successful pre-IND meeting with the FDA for Project Lucy. The new IND program will commence in August 2021 with a Phase 2b clinical trial for LSD-assisted therapy in anxiety.
The psychedelics industry has experienced a renaissance over the past two years with the launch of the Johns Hopkins Center for Psychedelic Research and a billion-dollar IPO. While there are many ways to capitalize on the industry, intellectual property will play a key role in both protecting assets and becoming a potential source of revenue.
CFN Media takes a look at three companies that aim to build an intellectual property portfolio in the sector in its latest coverage of the psychedelics space.
ATAI Life Sciences Inc. is a global biotech company that has raised $125 million in a Series C to fund pre-clinical and clinical development of psychedelics.
NeonMind is developing products that contain legal medicinal mushrooms and it is engaged in preclinical research into potentially therapeutic uses of compounds found in psychedelic mushrooms.
Tryp Therapeutics Inc. is developing psychedelic pharmaceuticals and recently filed its final prospectus and announced an initial public offering.
PsyIndex is the first comprehensive index tracking private and public companies within the global psychedelics industry and serves as a single destination for investors and companies to gauge market performance, conduct due diligence and access breaking news and exclusive video coverage. Members receive free alerts and a weekly market update report covering key financial activity and announcements (e.g., financings, listings, and M&A) from across the industry as well as index performance.
Visit the PsyIndex at www.psyindex.com.
About CFN Enterprises Inc.
CFN Enterprises Inc. (OTCQB: CNFN) is a digital media and ecommerce company focused on advancing businesses and brands in highly regulated emerging industries across the globe. CFN connects investors with new market opportunities while helping consumers find innovative products that enhance their lives. Learn more at www.cfnenterprisesinc.com.
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