Intranasal 5-MeO-DMT Clinical Trial Offers Hope for Treatment-Resistant Depression
Partners Beckley Psytech and atai Life Sciences ATAY have jointly announced positive initial results from a Phase 2a study of Beckley's new formulation of 5-MeO-DMT in the treatment of refractory depression (TRD).
BPL-003 is a patent-protected, synthetic benzoate salt formulation of 5-MeO-DMT (also known as mebufotenin) designed for intranasal administration. The open-label study evaluated the safety, tolerability, and efficacy of the compound at a single 10 mg dose, along with psychological support, in patients with moderate to severe TRD (who stopped taking concomitant antidepressants). Have more information.
Utah Hospitals Will Soon Provide Psilocybin and MDMA Therapy for Mental Health Conditions
Providers at Utah's two largest health care systems can now treat patients with psilocybin and MDMA as part of a pilot program created by a proposal signed into law that will take effect May 1, 2024.
The program, open to providers from University of Utah Health and Intermountain Health, will last three years. Next, the Legislature will decide whether to resume it or not. Learn more.
Elon Musk on ketamine and value for investors: “If there's something I'm taking, I should keep taking it”
Elon Musk once again defended the use of psychedelics. In a new interview with former CNN anchor Don Lemon, the business mogul said prescription ketamine has helped him with occasional depressive episodes. He also suggested that taking ketamine has also been beneficial for investors in his companies.
the tesla TSLA and the SpaceX CEO says he takes “a small amount once every two weeks” and sometimes less frequently, to treat “chemical surges” that can trigger his depression. “Ketamine is helpful in getting you out of a negative mood,” Musk told Lemon. Keep reading.
Do Meta and other platforms play a role in the sale of illicit drugs? US prosecutors intend to find out
Virginia prosecutors are investigating whether Facebook parent Meta's social media platforms Facebook and Instagram are facilitating and profiting from illegal drug sales, according to a report Saturday. Wall Street Journal report.
Led by Assistant U.S. Attorney Randy Ramseyer, the investigation includes delving into whether Meta GOAL failed to adequately remove drug-related content from its platforms. Read more.
Podcast: LSD 'deserves to regain its place at the head of the psychedelic trail,' says MindMed's R. Barrow
Welcome to a new episode of the Benzinga Psychedelics Podcast where we are joined by Robert Barrow, CEO of Mind Medicine (MindMed). MNMD, which has taken the development of LSD-based therapy to new heights. The biopharmaceutical company recently earned “breakthrough therapy” designation for the treatment of generalized anxiety from the US Food and Drug Administration (FDA).
Discover more and listen here.
The milestone round
See also: Previous edition of 'Psyched'
Psychedelics ETF Weekly Performance
AdvisorShares Psychedelic ETFs PSIL opened on Monday, March 25 at $1.45, following openings at $1.50, $1.65, and $1.58 (March 18, 11, and 4, respectively).
On Thursday, March 28, it closed at $1.49, after previous closes at $1.44, $1.53, and $1.64 (March 22, 15, and 8, respectively).
The week's high during open market hours was $1.49, down from previous highs of $1.55, $1.65 and $1.78.
The week's low (open market hours) was $1.42, down from previous lows of $1.41, $1.46, and $1.44.
Most traded psychedelic stocks close on Thursday, March 28
- GH Research GHRS it closed at $10.66, similar to the immediately preceding week's closes at $10.54 and $10.91 (March 22 and 15) and jumped from $8.08 on March 8.
- Mental Medicine (MindMed) MNMD closed at $9.53, trading based on previous closings at $9.85, $9.10 and $9.50.
- COMPASS Paths CMPS It closed at $8.33, maintaining the downward trend based on previous closes at $8.99, $9.90 and $10.88.
- Incannex Health IXHL it closed at $3.60, a recovery from previous closes at $2.82 and $3.25, but still not at $4.20 like three weeks ago.
- Atai life sciences ATAY It closed at $1.93, compared to previous closes at $1.63, $1.75 and $2.11.
- Pharmaceutical Silo SILO closed at $1.92, maintaining the trend of previous closes at $1.86, $1.84 and $1.61.
- Lucy Scientist LSDI It closed at $1.39, a similar trend to previous closes at $1.38, $1.25, and $1.70.
- Biosciences of brilliant minds DRUG It closed at $1.20, and continues to fall based on previous closes at $1.22, $1.31, and $1.58.
- Clear Mind Medicine ID card It closed at $1.15, and also continues to fall from previous closes at $1.18, $1.27, and $1.38.
- Enveric Biosciences ENVB It closed at $1.03, compared to previous closes at $1.13, $1.07 and $1.46.
Past stock trading numbers according to Benzinga Pro, our streaming platform with all the information you need to help you invest smarter. Join us and see for yourself!
