Psychedelic Stocks: The Ultimate Investing Guide (December 2021)

By Tomer Hochma | Updated November 22, 2021

Key Points

  • There are currently 42 psychedelic stocks traded in stock exchanges worldwide.
  • The top psychedelic stocks by market cap are Atai Life Sciences (ATAI), COMPASS Pathways (CMPS), Mind Medicine (MindMed) (IIPR), Cybin (CGC), and Field Trip Health (GTBIF).
  • This in-depth psychedelic guide provides everything you need to know about psychedelic stocks: top stocks list, advanced category classifications (by business segments, ingredients and indications), and a complete industry analysis.

Top Psychedelic Stocks List

The top psychedelic stocks by market cap according to StockDetect's global stocks database.


Overview | Valuation | Financials | Earnings | Dividends | Statistics

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1. Atai Life Sciences (ATAI)

Atai Life Sciences is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders.
The company was founded atai in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape, as well as the emergence of therapies that previously may have been overlooked or underused, including psychedelic compounds and digital therapeutics.

2. COMPASS Pathways (CMPS)

COMPASS Pathways is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health.
The company's focus is on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. COMPASS is pioneering the development of a new model of psilocybin therapy, in which the company's proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support.

3. Mind Medicine (MindMed) (MNMD)

Mind Medicine (MindMed), a psychedelic medicine biotech company, discovers, develops, and deploys psychedelic inspired medicines and therapies to address addiction and mental illness.

4. Cybin (CLXPF)

Cybin, a life sciences company, focuses on developing psychedelic therapeutics to treat various psychiatric and neurological conditions.

5. Field Trip Health (FTRP)

Field Trip Health Ltd. engages in the development and delivery of psychedelic therapies. Its Research division is involved in the development of psychedelic molecules and conducting research on plant-based psychedelics.
The company also operates Field Trip Health clinics for psychedelic therapies in North America. Its Technology division engages in building digital and technological tools to support psychedelic experiences and consciousness expansion.
Field Trip Health Ltd. is headquartered in Toronto, Canada.


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Psychedelic Stocks By Categories

Psychedelic Drug Development Stocks

Psychedelic drug development stocks include companies that develop medicines based on psychedelic ingredients such as psilocybin, ketamine, MDMA, Ibogaine, DMT, LSD and Salvinorin A.

Psychedelic Extraction & Supply

Psychedelic extraction & supply stocks contain companies that extract & supply psychedelic compounds for academic research studies, and for companies pursuing new psychedelic drug development.

Psychedelic Products Stocks

Psychedelic products include companies that cultivate, process and produce psychedelic-based products, such as edibles for recreational use.
Currently Psilocybin is legal for recreational use in Brazil, the Netherlands, and Jamaica.

Psychedelic Clinics Stocks

Psychedelic clinic stocks include companies that own and/or operate clinics specialized in psychedelic medicine and integrative mental healthcare.

Psychedelic Research Labs Stocks

Psychedelic research labs stocks include companies that own and/or operate research sites specialized in psychedelic clinical trials and protocol development. Research capabilities include: clinical trial design, patient recruitment, screening & enrollment, and patient management & data collection.
Research lab services include: study design & protocol development, clinical research consulting, regulatory affairs & medical writing, data management & quality assurance, trial management, clinical monitoring, pharmacovigilance, and biostatistics support.

Psychedelic Stocks By Ingredients

Psychedelic Psilocybin Stocks

Psychedelic psilocybin stocks include companies that develop psilocybin-based medicines.

Psilocybin is a naturally occuring substance found in 200 species of fungi mushrooms ("Magic Mushrooms") and is found in Mexico, South America, and the southern and northwest regions of the United States. Psilocybin's compounds have similar structure to LSD, and are abused for their hallucinogenic and euphoric effect to produce a "trip".

Ongoing and published academic studies have indicated that psilocybin has a strong efficacy in treating those suffering from depression, addiction, anxiety, amongst other mental illnesses.

FDA has granted psilocybin ‘breakthrough therapy’ status to study its efficacy in treating severe depression.

Psychedelic Ketamine Stocks

Psychedelic ketamine stocks include companies that develop ketamine-based medicines.

Ketamine is a dissociative drug. It acts on different chemicals in the brain to produce visual and auditory distortion, and a detachment from reality.

Ketamine is used by medical practitioners and veterinarians for induction and maintenance of anesthesia. It induces dissociative anesthesia, a trance-like state providing pain relief, sedation, and amnesia.

Clinical trials and studies are assessing ketamine as a treatment for depression.

R-ketamine vs. S-ketamine: R-ketamine lacks the psychotomimetic and abuse potential of S-ketamine at therapeutic doses in preclinical models.

Psychedelic MDMA Stocks

Psychedelic MDMA stocks include companies that develop MDMA-based medicines.

MDMA (3,4-Methyl​enedioxy​methamphetamine), commonly known as Ecstasy or Molly, is a psychoactive synthetic drug primarily used for recreational purposes. The desired effects include altered sensations, increased energy, empathy, as well as pleasure. When taken by mouth, effects begin in 30 to 45 minutes and last 3 to 6 hours. MDMA was initially popular in the nightclub scene and at all-night dance parties ("raves").

MDMA with psychotherapy has been shown to help people heal from Post Traumatic Stress Disorder (PTSD). It is also showing promise in other mental health related challenges.

MDMA has been reported to increase sexual desire and satisfaction.

Psychedelic Ibogaine Stocks

Psychedelic ibogaine stocks include companies that develop ibogaine-based medicines.

Ibogaine is a naturally occurring psychedelic compound isolated from a West African shrub, iboga. It induces hallucinogenic effects like those associated with use of LSD or psilocybin.

Studies have focused on ibogaine as a potential treatment for addiction (mainly substance use disorders).

Psychedelic DMT Stocks

Psychedelic DMT stocks include companies that develop DMT-based medicines.

DMT (N,N-Dimethyltryptamine) is a hallucinogenic tryptamine drug that occurs naturally in many plants and animals. It is also referred to as the “spirit molecule” due to the intense psychedelic experience. Although lesser known than other psychedelics such as LSD or magic mushrooms, DMT produces a brief but intense visual and auditory hallucinogenic experience.

DMT is the active psychedelic moiety in Ayahuasca, a psychoactive brew.

Psychedelic LSD Stocks

Psychedelic LSD stocks include companies that develop LSD-based medicines.

LSD (Lysergic acid diethylamide), commonly known as Acid, a synthetic chemical, made from a substance found in ergot, which is a fungus that infects rye (grain). When small doses are taken, it can produce mild changes in perception, mood and thought. Larger doses may produce visual hallucinations and distortions of space and time.

Clinical trials and studies have shown positive results in treating depression, post-traumatic stress disorder, and reducing anxiety in patients with a life-threatening disease.

Psychedelic Salvinorin A Stocks

Psychedelic Salvinorin A stocks include companies that develop Salvinorin A-based medicines.

Salvinorin A is a naturally occurring psychedelic compound derived from the Salvia divinorum plant. It is considered a dissociative hallucinogen.

Psychedelic Stocks By Indications

1. Psychedelic Stocks By Mental Disorders

Overview

Psychedelic stocks by mental disorders include companies that develop psychedelic-based medicines for mental disorders, such as depression and anxiety.

Mental disorders (or mental illnesses) are conditions that affect your thinking, feeling, mood, and behavior. They may be occasional or long-lasting (chronic). They can affect your ability to relate to others and function each day.

Mental health disorders (DSM-V) have become one of the largest global health burdens, exacerbated by the COVID-19 pandemic. Despite the unmet patient need, innovations remain limited, with only 7 new neuropsychiatric drugs approved since 2015 (less than 10% relative to oncology).

  • More than half of the US population will have a mental health disorder at some point in their lifetime.
  • 24% of adults with mental illness report unmet need for mental health treatment.
  • During the pandemic, 41% of adults reported symptoms of anxiety and/or depressive disorder and 11% reported thoughts of suicide in the past 30 days.
  • The global direct and indirect economic costs from mental disorders is US $2.5 trillion.
  • Workplace mental health problems cost employers an estimated US $500 billion annually of lost productivity.

Types Of Mental Disorders

1.1 Depression

Depression (major depressive disorder) is a common and serious medical illness that negatively affects how you feel, the way you think and how you act. Depression causes feelings of sadness and/or a loss of interest in activities you once enjoyed. It can lead to a variety of emotional and physical problems and can decrease your ability to function at work and at home.

  • The World Health Organization States That Depression affects ~300 million people globally.
  • Depression affects 20–25% of Americans Ages 18+ in a given year.
  • At its worst, depression can lead to suicide.
  • Over 700,000 people die globally due to suicide annually (One person every 40 seconds).
  • Suicide is the fourth leading cause of death in 15-19-year-olds.
  • 12 million adults (US) had serious thoughts of committing suicide, 3.5 adults made suicide plans, and 1.4 million adults attemted suicide.
  • Suicide is the 10th leading cause of deaths in the U.S. (45,000 lives per year = one death every 12 minutes).
  • 77% of global suicides occur in low- and middle-income countries.
  • More than 75% of people in low and middle income countries receive no treatment for their disorder. Barriers to effective care include a lack of resources, lack of trained health-care providers and social stigma associated with mental disorders.
  • The global depression drugs market reached a value of US $12.7 Billion in 2020, and is expected to grow at a CAGR of around 3% during 2021-2026.

The main types of depression disorders are:

1.1.1 Major Depressive Disorder (MDD)
Major depressive disorder (MDD) is a mental disorder characterized by at least two weeks of pervasive low mood, low self-esteem, and loss of interest or pleasure in normally enjoyable activities.

  • ~300 million people globally suffer from MDD.

1.1.2 Persistent Depressive Disorder (PDD)
Persistent depressive disorder (PDD) is a serious state of chronic depression, which persists for at least two years. PDD is less acute than major depressive disorder, but not necessarily less severe.

  • ~200 million people globally suffer from PDD.

1.1.3 Treatment-Resistant Depression (TRD)
Treatment-resistant depression (TRD) is a condition that affects people with major depressive disorder (MDD) who do not respond adequately to two courses of appropriate antidepressant medication.

  • ~100 million people globally suffer from TRD.

1.2 Anxiety Disorders

Anxiety disorders involve more than temporary worry or fear. For a person with an anxiety disorder, the anxiety does not go away and can get worse over time.

An anxiety disorder happens when anxiety interferes with your ability to function, you often overreact when something triggers your emotions, and you can’t control your responses to situations.

Researchers have found that both genetic and environmental factors contribute to the risk of developing an anxiety disorder.

  • #1 Most common mental health disorder in the US.
  • There are ~40m anxiety disorder sufferers in the US.
  • Less than half of patients with Anxiety disorder in the US receive treatment.
  • Current treatments have slow onset (4- 12 weeks) or side effects including sedation.
  • Global anxiety disorders market size: US$7.4B by 2023 and expected to grow at a CAGR of around 2.5% during 2021 - 2023.

The main types of anxiety disorders are:

1.2.1 Generalized Anxiety Disorder (GAD)
Excessive, exaggerated anxiety and worry about everyday life events for no obvious reason. People with symptoms of generalized anxiety disorder tend to always expect disaster and can't stop worrying about health, money, family, work, or school.

  • There are ~7m GAD sufferers in the US.
  • Epidemiologic studies of nationally representative samples in the United States have found a lifetime prevalence of General Anxiety Disorder of 5.1% to 11.9%.

1.2.2 Social Anxiety Disorder (SAD)
Fear and anxiety in social situations, causing considerable distress and impaired ability to function at some aspects of daily life.

  • Social anxiety disorder affects about 5.3 million people in the United States.
  • Lifetime prevalence of Social Anxiety Disorder in US is 3% to 7%

1.2.3 Post-Traumatic Stress Disorder (PTSD)
Post-traumatic stress disorder (PTSD) is a psychological reaction that can manifest itself after a traumatic event. Symptoms must last more than 30 days for a diagnosis of PTSD to be considered.

  • PTSD affects around 3.5% of the U.S. population, approximately 8 million Americans, in a given year
  • 70% of adults experience at least one traumatic event in their lifetime, and 20% of people who experience a traumatic event will develop PTSD.

1.2.4 Obsessive Compulsive Disorder (OCD)
Repeated unwanted thoughts or sensations (obsessions) or the urge to do something over and over again (compulsions). Some people can have both obsessions and compulsions.
People with OCD have thoughts or actions that take up at least an hour a day, are beyond control, aren't enjoyable, and interfere with work, social life, or another part of life.

  • Approximately 2.3% of the population has OCD, which is about 1 in 40 adults and 1 in 100 children in the U.S.

2. Psychedelic Stocks By Addiction Disorders

Overview

Psychedelic stocks by addiction disorders include companies that develop psychedelic-based medicines for addiction disorders, mainly Substance Use Disorders (Alcohol Use Disorder and Opioid Use disorder).

Addiction is a complex process where problematic patterns of substance use or behaviours can interfere with a person’s life. Addiction can be broadly defined as a condition that leads to a compulsive engagement with a stimuli, despite negative consequences. This can lead to physical and/or psychological dependence.

There are two types of addictions: Substance Use (such as the problematic use of alcohol or cocaine), and Behavioural addictions (such as gambling or internet addiction).

Substance use disorders are highly prevalent disorders characterized by an inability to control the use of a legal or illegal drug, medication or other psychoactive compound.

  • 5% of the world’s population have used an illicit substance, 240 million people around the world use alcohol problematically, and approximately 15 million people use injection drugs.
  • There are ~20 Million patients with Substance Use Disorder (US).
  • ~75% of patients relapse within one year of treatment.
  • The drug, alcohol and other addictions treatment industry will be worth $38.2 billion this year (5.2% annual growth in revenues).

Types of Addiction Disorders

2.1 Substance Use Disorders (SUD)

2.1.1 Alcohol Use Disorder (AUD)
Alcohol use disorder (AUD) is a medical condition characterized by an impaired ability to stop or control alcohol use despite adverse social, occupational, or health consequences.

  • Globally, 107 million people are estimated to have an alcohol use disorder.
  • 3M global deaths were attributed to alcohol consumption.
  • Approximately 5.8 percent or 14.4 million adults in the United States ages 18 and older had AUD in 2018. This includes 9.2 million men and 5.3 million women.
  • Excessive alcohol use is responsible for more than 95,000 deaths in the United States each year (= 261 deaths per day).

2.1.2 Opioid Use Disorder (OUD)
Opioids, used medically for pain relief, have analgesic and central nervous system depressant effects as well as the potential to cause euphoria. Opioid use disorder (OUD) can involve misuse of prescribed opioid medications, use of diverted opioid medications, or use of illicitly obtained heroin.
OUD is typically a chronic, relapsing illness, associated with significantly increased rates of morbidity and mortality.

  • There are ~3m sufferers of OUD in the U.S.
  • ~70k US deaths from opioid drug overdose in 2020.
  • ~75% of patients undergoing OUD therapy experience relapse within one year.
  • The total annual OUD-related costs to the U.S. were $786.8 Billion to society, $93 Billion to taxpayers, and $89.1 Billion to the healthcare sector.

3. Psychedelic Stocks By Neurological Disorders

Overview

Psychedelic stocks by neurological disorders include companies that develop psychedelic-based medicines for neurological disorders, such as Parkinson’s Disease and ALS.

Neurological disorders are medically defined as disorders that affect the brain as well as the nerves found throughout the human body and the spinal cord.

Types Of Neurological Disorders

3.1 Parkinson’s Disease (PD)
Parkinson's disease is a progressive nervous system disorder that affects movement. Symptoms start gradually, sometimes starting with a barely noticeable tremor in just one hand. Tremors are common, but the disorder also commonly causes stiffness or slowing of movement.

3.2 Lou Gehring’s Disease (ALS)
Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig's disease or motor neuron disease, is a progressive, degenerative disease that destroys the nerve cells that control voluntary muscle movement.

3.3 Traumatic Brain Injury (TBI)
Traumatic brain injury typically occurs when a sudden force impacts the head or body, resulting in damage and functional impairment of the brain. atai initially focuses on mild traumatic brain injuries.

  • ~1.7m people sustain TBI each year in the US.
  • ~57k Annual TBI-related deaths in the US.
  • Mild TBI accounts for 70 - 80% of all reported TBIs.
  • 5.3m Americans live with TBI related disabilities.
  • 70-90% of patients continue to exhibit prolonged neurocognitive dysfunctions.

3.4 Cognitive Impairment Associated with Schizophrenia (CIAS)
Schizophrenia is a chronic, psychiatric disorder characterized by a heterogeneous combination of symptoms, including psychosis, social withdrawal, flat emotional affect and cognitive impairment. Nearly all schizophrenia patients are affected by CIAS, limiting both social and non-social cognitive functions. To date, there are no pharmacological treatments approved for CIAS.

  • ~18m Patients with Cognitive Impairment Associated with Schizophrenia (global).
  • No pharmacological treatments approved for CIAS.
  • ~21m Global suffers from schizophrenia.
  • ~84% of schizophrenia patients suffer from significant cognitive impairment.
  • ~20 years Lost life expectancy compared to the general population (schizophrenia patients).
  • ~$155bn Estimated annual US economic burden due to schizophrenia.
  • $13bn+ Relative market opportunity (antipsychotic sales by 2025).

4. Psychedelic Stocks By Pain Disorders

Overview

Psychedelic stocks by pain disorders include companies that develop psychedelic-based medicines for pain disorders, such as acute pain and chronic pain.
Pain disorder is chronic pain experienced by a patient in one or more areas, and is thought to be caused by psychological stress.

Types of pain disorders

4.1 Acute Pain
Acute pain means the pain is short in duration, lasting from minutes to about three months (sometimes up to six months).

4.2 Chronic Pain
Chronic pain is longer in duration. It can be constant or intermittent. For example, headaches can be considered chronic pain when they continue over many months or years – even if the pain isn’t always present.

Psychedelic Regulations Update

  • 2016: Psilocybin shows sustained decreases in depression and anxiety in cancer patients.
  • 2017: FDA Breakthrough designation for MDMA-Assisted Psychotherapy and announcement of Phase 3 in PTSD.
  • 2018: FDA begins to recognize ‘breakthroughtherapy’ status (MDMA for PTSD, Synthetic psilocybin for Treatment-Resistant Disorder, Synthetic psilocybin for Major Depressive Disorder).
  • 2019: FDA approval of intranasal S-ketamine for TRD..
  • August 2020: Health Canada approves psilocybin therapy for select patients with terminal illness.
  • November 2020: Oregon legalizes psilocybin mushrooms for use in therapy.
  • December 2020: Health Canada proposes allowing controlled psychedelic access outside clinical trials.
  • February 2021: Missouri congressperson proposes Right to Try bill to allow prescribed access for seriously ill patients to various psychedelics, including LSD, MDMA and psilocybin.
  • March 2021: Washington, DC Initiative 81 allows DC residents to use plant and fungi medicines without fear of being investigated, arrested or jailed.
  • June 2021: Texas bill passes requiring the state to study psilocybin therapy for veterans with PTSD.
  • August 2021: California legislation to decriminalize possession of psychedelics moves forward as a two-year bill (Senate Bill 519); will be voted on in 2022.

Psychedelic History

Psychedelic Drug Development History

  • 1938: LSD synthesized by Dr. Albert Hofmann at Sandoz research labs.
  • 1953: Psychedelic therapy developed by Dr. Abram Hoffer and Dr. Humphry Osmond, efficacious in treating alcoholics.
  • 1960s: Dr. Stan Grof uses LSD to treat heroin addiction in Prague.
  • 1965: Drug Control Amendments forbid the manufacture and sale of psychedelic drugs (scheduling).
  • 1971: "America's public enemy number one is drug abuse." (President nixon, 1971)

History Of Ketamine

1960s-1970s

  • Initially developed as an animal sedative, ketamine injections were first tested in humans in 1964 as an anesthetic and the first paper on human use was published in 1966.
  • In 1970, Parke-Davis received FDA approval for ketamine hydrochloride injection under the brand name of Ketalar® for short acting anesthesia.
  • Ketamine was widely administered as a field anesthetic to soldiers during the Vietnam War due to its highly regarded safety profile.

1980s-1990s

  • Use and abuse of ketamine began to increase, especially among certain sub-cultures (e.g., mind explorers and New Age spiritualists).
  • Ketamine was added to WHO Model List of Essential Medicines in 1985 and Model List of Essential Medicines for Children.
  • In the early 90’s, Yale University scientists began studying IV ketamine as a treatment for depression and off-label use of ketamine emerged in clinics in the U.S.

2000+

  • Recent data suggest that ketamine, given intravenously, might be the most important breakthrough in antidepressant treatment in decades.” - Thomas Insel, Director National Institute of Mental Health
  • In 2018, ketamine received global exposure when youth soccer team players from Thailand were administered ketamine injections to calm them before being rescued.
  • Janssen (JNJ) completed clinical studies of intranasal esketamine (S-ketamine), the single isomer of ketamine, and received FDA approval for Spravato™ indicated for Treatment Resistant Depression (TRD) in March 2019.

Terms

Psychedelic-Assisted Therapy (PAT)

Psychedelic-assisted therapy (PAT) is a form of treatment that combines the research-led, evidence-based science of psychedelic medicine with personalized psychotherapy.

The therapy component of any psychedelic therapy program is of crucial importance: the psychedelic medicine provides the patient with insights, breakthroughs, and a period of neuroplasticity. The integration therapy sessions help to create lasting behavioral change.

What are the psychedelic therapy benefits?

Potential Benefits for Patients:

  • Rapid and sustained relief.
  • A meaningful patient experience.
  • A sense of agency and empowerment.

Potential Economic Benefits:

  • Reduction in total cost of care.
  • Lower healthcare resource utilisation.
  • Increased productivity, reduced absenteeism.

What is Microdosing?

Microdosing is a process whereby small doses of a psychoactive compound, typically psychedelics are used. Each dose has the benefits of the psychoactive compound without affecting your day to day functioning which means you are able to work, exercise, socialize, etc, without any of the extrasensory effects that would typically come from taking a psychedelic.

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