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Psyched: New Evidence Shows Psilocybin As Anxiety Therapy, Open-Source Learning For Therapists, Enveric's Licensing Deals And More

Author: Lara Goldstein | March 04, 2024 02:48pm

Psilocybin-Assisted Therapy Achieves Positive Clinical Trial Results For Treating Generalized Anxiety

Psilocybin-assisted therapy has hit a milestone as clinical trial results show potential benefits for Generalized Anxiety Disorder (GAD.) 

With variable symptoms, the condition typically involves a person suffering from excessive anxiety and worry for over six months, potentially causing significant distress and impairment in social, occupational or other areas of functioning. A relatively common disorder, successful treatment of GAD remains inadequate, bringing on side effects and high costs.

The new topline clinical outcomes correspond to a Phase 2 study assessing psilocybin therapy’s potential for treatment of Generalized Anxiety Disorder (GAD), conducted by clinical-stage cannabinoid and psychedelics biotech company Incannex Healthcare (NASDAQ:IXHL). Read more.

Beckley Academy’s Open-Source Psychedelic Therapy Learning Framework Is Out: What’s It All About? Authoring Team Shares Insights

The medical psychedelics field is at a pivotal juncture. With MDMA-assisted therapy close to federal legalization for the treatment of PTSD in the U.S. and other psychedelic substances potentially following suit, these therapies are poised to revolutionize treatment for certain mental health issues. 

And yet the field has some recognizable and potentially conflictive gaps, such as the absence of national training standards and certifications for those providing the therapies. 

To remedy this lack, the educational studio Beckley Academy is moving forward by publishing what’s believed to be the first open-source learning framework to advance psychedelic-assisted therapy (PAT) training standards. Learn more.

EXCLUSIVE: Enveric Biosciences Announces Non-Binding Deals To License Three Types Of Drug Compounds

Enveric Biosciences (NASDAQ:ENVB), a Florida-headquartered biotech company developing novel neuroplasticity-promoting small molecule therapeutics for depression, anxiety and addiction disorders treatment has signed three non-binding term sheets with another (undisclosed) biotechnology company toward the out-licensing of three classes of compounds.

The news comes shortly after the company announced the sale of its cancer patents, to further its path to mental health treatment development. 

The three term sheets contemplate that the undisclosed licensee would receive exclusive, royalty-bearing global licenses to develop and sublicense the assets, along with cash buyout options and future option rights to substantially related assets in the Enveric portfolio. The licensee would assume responsibility for all future preclinical and clinical development for all human and/or animal pharmaceutical applications. Keep reading.

The Milestone Round

See Also: Last Week’s Edition Of ‘Psyched’

Psychedelics ETF's Weekly Performance

AdvisorShares Psychedelics ETF (NYSE:PSIL) opened Monday, March 4 at $1.58, following prior openings at $1.46, $1.47 and $1.44 (Feb. 26, 20 and 12, respectively.)

On Friday, March 1 it closed at $1.57, following prior closings at $1.41, $1.46 and $1.44, (Feb. 23, 16 and 9, respectively.)

Last week's highest was closing price $1.57, vs. prior weekly highests at $1.52, $1.50 and $1.50.

Week's lowest was $1.43, vs. prior weekly lowests at $1.41, $1.40 and $1.37.

Highest Trading Psychedelics Stocks Friday, March 1 At Close

  • COMPASS Pathways closed at $11.47, up from prior closings at $10.20, $10.50 and $10.35 (Feb. 23, 16 and 9, respectively.)
  • GH Research closed at $8.50, up from prior closings at $7.51, $8.00 and $8.06.
  • Mind Medicine (MindMed) closed at $6.21, sustaining the upstream as per prior closings at $4.91, $4.93 and $4.41.
  • Incannex Healthcare closed at $5.37, also up as per prior closings at $4.84, $4.70 and $3.24. 
  • Atai Life Sciences (NASDAQ:ATAI) closed at $2.14, also up from prior closings at $1.83, $1.84 and $1.73.
  • Lucy Scientific (NASDAQ:LSDI) closed at $1.91, dropping as per prior closings at $2.42, $2.01 and $2.60, yet back again in the top 10 highest-trading psychedelic stocks.
  • Bright Minds Biosciences (NASDAQ:DRUG) closed at $1.76, slightly behind prior closings at $1.88, $1.95 and $1.95.
  • Clearmind Medicine closed at $1.60, following prior closings at $1.81, 1.29 and $1.42.
  • Silo Pharma (NASDAQ:SILO) closed at $1.59, closely following prior closings at $1.57, $1.55 and $1.52. 
  • Enveric Biosciences closed at $1.62, jumping from prior closings at $0.95, $0.83 and $0.76.

Stock trading numbers above according to Benzinga Pro, our all-the-information-you-need streaming platform helping you invest smarter – Come join us and see for yourself!

Now Read Psychedelics Headlines: Predicting Readiness, Correcting The Hype, Good And Bad Drugs, Training Programs And More

Posted In: ATAI CMND CMPS CYBN DRUG ENVB GHRS HUGE IXHL LSDI MNMD PSIL SILO SPRC TRUFF


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