Pioneering Series A Funding to Propel MDMA Therapy for PTSD
A decade after its inception under the Multidisciplinary Association for Psychedelic Studies (MAPS), MAPS Public Benefit Corporation has secured over $100 million in Series A private stock sale. The infusion will bolster its pursuit of regulatory approval for MDMA (ecstasy) treatment of post-traumatic stress disorder (PTSD) following successful Phase 3 studies and a New Drug Application to the FDA.
Groundbreaking VA Support for Psychedelic Research on Veterans’ Mental Health
The U.S. Department of Veterans Affairs (VA) is set to embark on novel studies exploring the potential of psychedelic compounds in treating PTSD and depression in military veterans, marking the first such initiative since the 1960s. This strategic shift underscores the gradual embrace of alternative therapies for mental health disorders among veterans.
Key Players to Watch in Psychedelics for 2024 and Beyond
An array of influential figures, including scientists, investors, advocates, and policy reformers, are spearheading the advancement and societal acceptance of psychedelic medicines. This collective endeavor spans an extensive variety of organizations and nationalities, highlighting the global scope of the evolving psychedelic therapy movement.
Psychedelics Policy Reform Gains Momentum at State and Federal Levels
In tandem with federal initiatives by the Biden administration and the VA, several states are rapidly advancing psychedelics policy reform. Recent measures in over a dozen states hold the potential to reshuffle the legal landscape for psychedelic therapies and research, potentially signaling a transformative shift at the regulatory forefront.
Market Performance Snapshot: Psychedelics ETF and Top Traded Stocks
The AdvisorShares Psychedelics ETF (PSIL) reflected varied intraweek performance, opening at $1.41 and closing at $1.47, underscored by fluctuating highs and lows. Notable stocks, including COMPASS Pathways, GH Research, Incannex Healthcare, Mind Medicine, Atai Life Sciences, Clearmind Medicine, Bright Minds Biosciences, Silo Pharma, Seelos Therapeutics, and Enveric Biosciences, exhibited divergent trading patterns, echoing the dynamic nature of the psychedelics market.
Stock trading numbers above according to Benzinga Pro, our all-in-one streaming platform for comprehensive market insights and investment acumen.