In this article, we discuss the 5 best psychedelic companies to watch. If you want to read our detailed analysis of these companies, go directly to the 10 Best Psychedelic Companies to Watch.
5. Field Trip Health Ltd. (OTC: FTRPF)
Field Trip Health Ltd. (OTC: FTRPF) is ranked fifth on our list of 10 best psychedelic companies to watch. The company’s shares have offered investors returns exceeding 77% year-to-date. The firm is based in Canada and concentrates on the development of psychedelic therapies. The firm is different from other biotech firms as it is working on building digital tools that aid with psychedelic experiences. The firm has a market cap of over $360 million and posted close to 500,000 in revenue for the fourth fiscal quarter earlier this month.
On June 8, Field Trip Health Ltd. (OTC: FTRPF) announced that it had applied for a listing on the NASDAQ stock exchange. Earlier in May, the company had opened its second health centre for 2021, located in Houston, with plans for five more field centres soon.
On June 15, Field Trip Health Ltd. (OTC: FTRPF) announced that it had completed initial drug metabolism and some other studies related to the development of a drug named FT-104, a new type of psychedelic compound.
4. Cybin Inc. (OTC: CLXPF)
Cybin Inc. (OTC: CLXPF) is a life sciences company based in Canada. It concentrates on the development of psychedelic therapies for the treatment of mental health diseases and other problems. It is placed fourth on our list of 10 best psychedelic companies to watch. The stock has returned more than 2,900% to investors over the past year. The firm has a market cap of over $320 million and posted more than 630,000 in revenue for the first fiscal quarter earlier this year.
On June 16, Cybin Inc. (OTC: CLXPF) announced the selection of social anxiety disorder and general anxiety disorder as target indications for a new psychedelic molecule. The decision came after months of research into the new molecule.
In March, Cybin Inc. (OTC: CLXPF) had entered into a deal with the firm Catalent to use the new tablet technology developed by the latter for use with the delivery of therapies developed by the former.
3. Novamind Inc. (OTC: NVMDF)
Novamind Inc. (OTC: NVMDF) is a Canadian company that builds infrastructure for psychedelic companies in North America. It engages in the building and maintenance of clinics, research centres, and other retreats related to psychedelics. It is ranked third on our list of 10 best psychedelic companies to watch. The company’s shares have returned close to 32,000% to investors in the past year. In addition to building clinics, the firm also offers outpatient mental health services.
In earnings results for the third fiscal quarter, posted on June 1, Novamind Inc. (OTC: NVMDF) reported a revenue of C$1.85 million, a significant uptick from the C$1.29 in revenue posted for the second fiscal quarter ended March 1 this year.
On June 17, Novamind Inc. (OTC: NVMDF) announced that it had invested $1 million in a stealth mode US-based drug firm. The company termed it a strategic investment but did not reveal more details about it.
2. Silo Pharma, Inc. (OTC: SILO)
Silo Pharma, Inc. (OTC: SILO) is a New Jersey-based biotechnology company founded in 2010. It is placed second on our list of 10 best psychedelic companies to watch. The company’s shares have returned more than 4% to investors over the past month. The company focuses on bringing together traditional biotech research and psychedelic practices for treatment of diseases such as depression, post-traumatic stress disorder, Parkinson’s, among others. The firm was formerly known as Uppercut Brands.
On June 8, Silo Pharma, Inc. (OTC: SILO) announced that it had entered into a deal for scientific research with the University of California San Francisco. The agreement will enable joint studies part of the Translational Psychedelic Research program at the university.
On May 25, Silo Pharma, Inc. (OTC: SILO) announced it had submitted an initial application for a listing on the NASDAQ Stock Market. The announcement came after the board of the company granted approval for the beginning of the process.
1. COMPASS Pathways plc (NASDAQ: CMPS)
COMPASS Pathways plc (NASDAQ: CMPS) is a mental health care company based in the United Kingdom but with operations in the United States and other countries as well. It is ranked first on our list of 10 best psychedelic companies to watch. The stock has returned close to 4% to investors over the past month. The firm develops psychedelic drugs for the treatment of ailments such as resistant depression. It has a market cap of over $1.3 billion and was formerly known as COMPASS Rx.
In earnings results for the fourth quarter, posted on March 9, COMPASS Pathways plc (NASDAQ: CMPS) reported earnings per share of -$0.52, missing market estimates by $0.16. In April, the firm launched a public offering of four million AD shares.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Perceptive Advisors is a leading shareholder in COMPASS Pathways plc (NASDAQ: CMPS) with 797,404 shares worth more than $29 million.
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