PsyIndex Weekly Update November 16, 2020 – November 20, 2020

The PsyIndex stabilized after a relatively quiet week of trading, but California’s move to decriminalize psychedelics in a newly proposed bill could be a game-changer for the national state of legalization efforts.

Corporate News, Deals & Listings

  • Lobe Sciences Ltd. (CSE: LOBE) announced a rebranding following the acquisition of Eleusian Biosciences Corp. via CannabisFN
  • MindMed Inc. (NEO: MMED) received approval from Swiss and Dutch health authorities for its protocol design. via CannabisFN
  • Mydecine Innovation Group Inc. (CSE: MYCO) provided an update on its management team and clinical trials. via CannabisFN
  • Field Trip Health Ltd. (CSE: FTRP) announced an expansion into the Netherlands and the launch of its truffles program. via CannabisFN
  • Numinus Wellness Inc. (TSXV: NUMI) announced a compassionate access trial of psilocybin-assisted psychotherapy. via CannabisFN
  • PharmaTher Inc. (CSE: PHRM) entered into an agreement with Revive Therapeutics. via CannabisFN
  • Psyched Wellness Inc. (CSE: PSYC) announced insider purchasing and option grant to Professor Nutt. via CannabisFN
  • Better PlantSciences Inc. (CSE: PLNT) started a preclinical trial to examine psilocybin for weight loss. via CannabisFN
  • Mind Cure Health Inc. (CSE: MCUR) announced the close of an oversubscribed $3.6M offering. via CannabisFN
  • Field Trip Health Ltd. (CSE: FTRP) and WHOOP announced a new partnership to measure psychedelic therapies. via CannabisFN
  • Red Light Holland Corp. (CSE: TRIP) and Halo Labs announced their intent to enter Oregon’s medicinal market. via CannabisFN

Featured Content

Pure Extracts: Recurring Revenue with Blue Sky Potential

The global cannabis extract market is projected to reach $28.5 billion by 2027, according to Grand View Research, representing a 16.6% compound annual growth rate. In addition to the relatively mature cannabis market, the wider market for plant-based extracts could see tremendous growth from the functional mushroom revolution.

We take a look at how Pure Extracts Technologies Corp.’s (CSE: PULL) unique combination of recurring revenue and blue sky potential has opened the door for investors.

Industry Developments

  • California Lawmaker Pushing to Decriminalize Psychedelic Drugs via The Hill
  • Psychedelics’ Emergence in American Health Care via State Press

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