This week Field Trip went public, listing on the CSE under ticker FTRP. Prior to their listing, shares sold at $2 (check our private placement data resource here): they’re now trading around $2.84.
We also saw Mark Zuckerberg come out in support of the decriminalization movement in Oregon with a half-million dollar donation, and COMPASS Pathways reached a $1.4 billion market cap.
Here’s your roundup…
Psychedelic Sector News
Field Trip: Lists on CSE
On Tuesday Field Trip listed on the CSE, a long-awaited event for many investors. We managed to spot the 6th October listing date ahead of the curve, thanks to our extensive sector-specific monitoring tools. If you would prefer to hear from us more regularly, be sure to follow us on Twitter. The Company also announced the appointment of Dr. Andrew Weil, acclaimed physician, to their Medical Advisory Board.
You can find our Field Trip Company Dashboard on our site.
MindMed: Partners with NYU for Launch of Psychedelics Centre; $25m Bought Deal Public Offering
MindMed has announced a funding commitment to found and launch a clinical training program at NYU Langone Health. The program will focus on psychedelic-assisted therapies and psychedelic-inspired medicines. This is the first step in a broader effort to establish a Center for Psychedelic Medicine at the School.
Today, the Company announced a $25m bought deal public offering at a price of $1.05 per unit, which saw the share price tumble approx 13% from the daily high.
Champignon: McIntyre Elected Board Chair
Champignon remains under a Cease Trade Order, with no further comment on their progress in working with the BC Securities Commission. This week the Company announced that Dr. Roger McIntyre has been elected Board Chair.
Mydecine: Files PTSD-for-Psilocybin Provisional Patent
Mydecine announced that its subsidiary, NeuroPharm, has filed a provisional patent application for a psychedelic therapy enhancer for the treatment of psychiatric disorders including PTSD. “The provisional patent application covers, among other things, an enhancer that reduces the enzymatic breakdown of psilocin, the active ingredient in psilocybin that causes psychedelic effects. This may result in an enhanced psychedelic experience in the treatment of PTSD, whether by extended in time, intensity, intensity per dose, or a combination thereof.”
Havn Life: Appoints Vic Neufeld and Rick Brar to Board; Accelerates Warrants
Havn announced the appointment of former CEO of Aphria, Vic Neufeld, to the position of Chairman of the Board of Directors. Rick Brar, also hailing from the cannabis sector, was appointed Vice Chairman. The Company also announced the acceleration of outstanding warrants, due to the share price of the Company exceeding $0.75 for 10 trading days. On the day of the announcement, shares were trading at $0.83. We also learned that one of Havn’s co-founders and directors, Robert Nygren, has left the Company.
Weekend Reads / In the News
Zuckerberg Supports Oregon Decrim. Efforts
Oregon Live. Mark Zuckerberg has donated half-a-million dollars to the campaign to decriminalise all drugs in Oregon, via Measure 110. The Facebook CEO is the latest in a growing crowd of Silicon Valley heavyweights to emerge in support of decriminalisation.
Research: DMT and Neurogenesis
Translational Psychiatry (Journal). According to a new study, DMT appears to positively regulate adult neurogenesis, and increases performance on memory tests in rodents. Neurogenesis is the formation of new neurons in the brain.
MindMed Featured in The New Yorker
The New Yorker. The popular publication covered MindMed’s NYU Langone Medical Center funding commitment, exclaiming “New York is getting its first psychedelic-medicine center”.
The case for funding psychedelics to treat mental health
Vox. “Scientists are developing psilocybin, the active ingredient in magic mushrooms, into a treatment for depression” reads the tagline of this Vox piece.
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