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Back to the potential MindMed, Compass Pathways & atai merger that Kevin O
Leary speculates on…
Kevin O’Leary Predicts These 3 Psychedelic Companies Will Merge, But Should They?
The “Shark Tank” star predicts three of the biggest psychedelic companies will merge into a mega-corporation, but our resident Psychedelic Investor wonders: Should they?
Famed investor Kevin O’Leary made a bold prediction last Tuesday, saying that psychedelic companies MindMed, atai Life Sciences and Compass Pathways will merge. For psychedelic stock investors, this would be a tsunami-sized event that would have ripple effects throughout the industry.
The Shark Tank star made the comments at the inaugural Benzinga Psychedelics Capital Conference in Miami, arguing that the companies “each need another $200 million by the time they get this to medicine.” In other words, as I have written before, the psychedelic medicines industry is heavily capital intensive, and getting multiple drugs from pre-clinical trials through Phase 3 trials and approved by the FDA can cost hundreds of millions of dollars.
Even though these companies are three of the best-financed in the industry — atai (Nasdaq: atai) has $362 million, Compass (Nasdaq: CMPS) has $273 million and MindMed (Nasdaq: MNMD, NEO: MMED) has $133 million — the celebrity investor believes that in order to succeed the companies may have to become one.
Read the entire article here: https://psychedelicspotlight.com/kevin-oleary-predicts-3-biggest-psychedelic-companies-will-merge-atai-mindmed-compass-pathways/
One man claims magic mushrooms healed his lost sense of smell. Read the full story here.
A new anti-depressant study is out. Read the full study here: https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0265928#sec011
#Mindmed #kevinoleary #psychedelicstocks
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Psychedelic Spotlight is your reliable source for the latest stories in the emerging psychedelics industry, covering breakthrough discoveries, investor news and cultural reform.