Psyched: Portugal Decriminalizes Synthetic Drugs, Anorexia And Psilocybin, LSD Microdosing, California & More

A Revolutionary Approach: Portugal Decriminalizes Synthetic Drugs

Portugal’s Parliament recently decriminalized the use of synthetic drugs. The new law equates the legal treatment of these substances with that of classic drugs. 

It further eliminates the criteria based on the number of doses to distinguish between consumers and traffickers, yet aims to differentiate one from the other so that the former can receive treatment at a time when psychiatric hospitalization due to problematic use of synthetic drugs has spiked. Read more HERE.

Compass' Psilocybin Therapy Proves Helpful In Treating Anorexia, Clinical Trial Shows

UC-San Diego authors assessed psilocybin therapy’s potential as a treatment for anorexia nervosa. They recently shared what are believed to be the first results from such a research study and the findings look promising.

Published in the Nature Medicine journal, the open-label study outcomes reveal COMPASS Pathways CMPS synthetic psilocybin COMP360 treatment as a potential therapy for anorexia nervosa. Read more HERE.

MindBio Recruits Participants For LSD-Microdosing Clinical Trial Among Cancer Patients With Emotional Distress

MindBio Therapeutics Corp. has started selection of participants for its phase 2 randomized double-blind and placebo controlled clinical trial in advanced stage cancer patients using microdoses of lysergic acid diethylamide (LSD) and meaning centered psychotherapy in an LSD take-home 6-week trial involving a total of 40 participants.

Patients with a stage IV solid tumor cancer and experiencing emotional distress will be randomized into the trial. Centered psychotherapy is a psychotherapeutic intervention in advanced cancer patients with symptoms of anxiety and or depression. Read more HERE.

California's Reform: Ballot Initiative Calls For $5B In Research, Legal Psilocybin Campaign On Track

The Californians for Treatments, Research, Education, Access and Therapies (TREAT) for Psychedelic Assisted Therapy and Cures officially filed a proposal creating a $5 billion state agency to fund and promote psychedelics research to the state’s attorney general for its potential inclusion in the 2024 ballot this July 19.

“TREAT California is not a direct decriminalization or legalization effort; and it is not an initiative driven by an elected official,” it reads. “Rather, it is a path for citizens to authorize legislative change.” Read more HERE.

The Milestone Round

• Small Pharma’s DMTTF Q1 2024 permeates its revamping strategy and a potential fast-tracked clinical trial.

• Societal CDMO SCTL nabbed a Schedule 1 manufacturing license and is set to begin psychedelics production.

• Cybin CYBN, Bright Minds DRUG and PharmAla Biotech PMBHF have provided updates on their clinical trials progresses.

• Awakn Life Sciences AWKNF is on track with a Phase 3 trial on Substance Use Disorder.

• Psychedelic therapy training platform Fluence inked a deal to bring Brazil's scene to new heights.

• In Congress, House has greenlighted a bill that would allow VA doctors to recommend medical marijuana and further enhance psychedelics research.

• Read about Psychedelic Medicine Coalition CEO Melissa Lavasani’s take on psychedelics advocacy on Capitol Hill.

• Singapore executed a woman for heroin possession: Why do punitive drug approaches persist worldwide?

• Learn about Fireside Project’s vision and funding model for harm reduction. 

• Antidepressants vs. psilocybin, a new paper explores how people process emotions on each one.

• Unmasking fake LSD: The dangers of 25I-NBOME disguised as acid.

• See Ric Flair-inspired vape cartridges, mini bongs & more new cannabis products hitting stores.

• Rick Doblin was honored with the Honey Badger Award for fearless psychedelic advocacy at Psychedelic Science 2023.

See Also: Last Week's Edition Of 'Psyched'

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, July 31 at $1.98, a slight uptake as of prior opening on July 24, at $1.94 and also of Friday 28’s closing at $1.96. During the morning, the number dropped to $1.97, after which it picked to $2.00 and finally closed at $2.01.

Week’s lowest was $1.88 on Thursday 27 (vs. lowest at $1.95 the prior week) and highest was $1.98 on Tuesday 25 (vs. prior week’s $2.06).

The ETF’s yearly price range is set between $4.35 and $1.65.

Highest Trading Psychedelics Stocks, July 31:

• GH Research GHRS closed at $13.15 today, a 6.54% daily down.

• COMPASS Pathways CMPS closed at $9.32 today, a 2.53% daily increase.

• Mind Medicine (MindMed) MNMD closed at $4.93, up 13.07% today.

• Bright Minds Biosciences DRUG closed at $4.16 today, up 5.32%.

• Enveric Biosciences ENVB closed at $2.73 today, up 11.43%.

• Silo Pharma SILO closed at $2.14, a 1.42% daily increase.

• atai Life Sciences ATAI closed at $2.09 today, a daily 1.46% increase

• Incannex Healthcare IXHL closed at $1.89, a 2.69% daily fall.

• Seelos Therapeutics SEEL closed at $1.53, on a 1.53% increase.

• FSD Pharma HUGE closed at $1.17, a daily 7.34% jump.

• Lucy Scientific LSDI closed at $1.10, a 2.80% daily increase. 

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