Whether or not psychedelic medicines will become legalized to treat patients with mental health conditions will ultimately rest on whether clinical trials treating conditions with compounds like psilocybin are successful.
This is why today’s news is so exciting. We got updates on four separate clinical trials.
First, is new data from a phase 1 clinical trial using Compass Pathways (Nasdaq: CMPS) Comp360 psilocybin. This trial added to the growing data showing that large doses of psilocybin are safe to take. It also showed no negative cognitive side effects of taking the drug.
Next, we got updates on two MindMed (Nasdaq: MNMD, NEO: MMED) trials. First, we found out about a new phase 1 trial which will combine LSD with SSRIs. This will be important, because we need to know whether mental health patients with disorders like major depressive disorder can remain on their prescriptions when undergoing psychedelic therapy.
Next, MindMed announced that their phase 1 clinical trial attempting to treat addiction with 18-MC, a proprietary non-hallucinogenic version of ibogaine, was completed. We should expect data relatively soon, and a phase 2a trial to begin shortly after.
Finally, we learned of a new microdosing trial that is set to begin at the University of Toronto. This phase 2 trial will test treating persistent depressive disorder using psilocybin microdoses. The psilocybin is Filament Health’s (OTCQB:FLHLF, NEO:FH) version of psilocybin, making it an important step for this company.
For investors in psychedelic stocks, and those who just want to see better mental health care treatments alike, this was a big week. Hopefully, as time progresses, we will start getting data back from these trials and the shroom boom will go into full force!
Can psychedelics treat mental health conditions? Can microdosing help depression? Can you keep taking antidepressants while taking LSD? Today, we became a step closer to answering all of these questions!
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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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