Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
What Happened: According to the Multidisciplinary Association of Psychedelic Studies (MAPS), a non-profit organization, the FDA is close to greenlighting MDMA as a treatment for PTSD. MAPS reported positive results from a phase-3 trial testing the efficacy of MDMA-assisted therapy. Pharamphorum outlined the study in an article here.
The study found that the majority (67%) of PTSD patients that participated in three MDMA-assisted therapy sessions had such positive results, that the patients no longer qualified for a PTSD diagnosis.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The study, which included 90 participants, also found that 88% of the patients saw a significant reduction in symptoms, which mirrored MAPS’ findings from its phase 2 trial.
The FDA originally recognized MDMA as a potential approach for PTSD in 2017. Now, with more positive results from studies like the MAPS’ phase 3 trial, the FDA will be more likely to fully greenlight MDMA as a treatment for PTSD, which will allow biotech companies to conduct further studies and develop drugs that will eventually hit the market.
Here are three companies that will benefit from the FDA greenlighting MDMA:
Field Trip Health LMT (NASDAQ:FTRP) is a company that is utilizing psychedelic-assisted therapy sessions. Patients can go to Field Trip locations in the U.S., Canada or Europe to undergo ketamine-assisted therapy.
FDA approval of MDMA would allow Field Trip to expand its current offerings with MDMA-assisted therapy. Currently, Field Trip’s stock is trading around $1.30 a share but could see a nice bounce if and when the FDA approves MDMA.
Atai Life Sciences (NASDAQ:ATAI) is one of the leading biotech companies discovering and developing treatments derived from psychedelic compounds. Atai already has an MDMA-derived drug in its pipeline, EMP-01, in collaboration with Empath Bio.
If the FDA approves MDMA, it will help Atai as it will further interest and investments into the psychedelic biotech space.
MindMed (OTC:MMDCF) is another biotech company exploring the benefits of psychedelic-assisted therapies and treatments. Like Atai, MindMed is actively exploring the efficacy and safety of different psychedelic compounds such as LSD, MDMA and DMT.
The same story with Atai, FDA approval of MDMA will lead to more investments and attention to the psychedelic biotech industry.
Learn more about what's happening in this exciting sector at Benzinga's upcoming Psychedelics Capital Conference to be held on April 19 at Miami Beach's Fontainebleau Hotel. Tickets still available HERE
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.