'Psychedelics Market Update' by PsyIndex.com
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.
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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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This press release may contain forward-looking statements from CFN Enterprises Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when CFN Enterprises Inc. describes the letter of intent, the proposed agreement and the benefits of the strategic partnership with Innovation Shares, growth in the cannabis and psychedelics markets, and uses other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, CFN Enterprises Inc. is using forward-looking statements. These forward-looking statements are based on the current expectations of the management of CFN Enterprises Inc. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial markets; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; or, loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of CFN Enterprises Inc. to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, CFN Enterprises Inc. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting CFN Enterprises Inc., reference is made to CFN Enterprises Inc.'s reports filed from time to time with the Securities and Exchange Commission.
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