Psyched: Fed Study On Psychedelics, Janet Yellen's Magic Mushrooms, Financing Deals & Quarterly Reports

Cannabis, Psychedelics Use And Binge Drinking At All-Time High Among Adults, Teens Remain Stable, Fed Study Finds

Cannabis and psychedelics consumption continued on a long-term upward trajectory to reach all-time highs in 2022, according to a Monitoring the Future (MTF) study. Although teenage marijuana use showed a year-over-year decline per last summer’s survey. 

Past-year hallucinogen use reached a historically high prevalence among adults between 35 and 50. Marijuana use and vaping are also at their highest historic levels for this age group in 2022. Read more HERE.

Janet Yellen Joins The Shroom Trend, Sort Of, During Her Official Visit To China

In a recent interview with CNN, U.S. Treasury Secretary Janet Yellen casually recognized that she tried magic mushrooms at a dinner in China.

Although “delicious,” the mushrooms didn’t send her on a psychedelic trip. Yellen added that she was only informed that the meal was made of the psychoactive native Lanmaoa asiatica shrooms after she’d eaten them. Read more HERE.

$285M Placement For COMPASS, $50M Credit Facility For MindMed

COMPASS Pathways CMPS has entered into a securities purchase agreement for an initial $125 million and a potential additional $160 million, with a select group of healthcare specialist investors under the lead of Morgan Stanley and TD Cowen. Learn more HERE.

Meanwhile, MindMed MNMD has secured a new financing source by entering into a $50 million senior secured credit facility with K2 HealthVentures, an alternative investment firm focused on providing “flexible, long-term financing solutions to innovative private and public companies in the life sciences and healthcare industries.” Learn more HERE.

The Milestone Round

• Cybin CYBN and Filament Health FLHLF reported their unaudited financial results for their Q1 2023 periods. 

• Enveric Biosciences ENVB, Mydecine Innovations MYCOF and Societal CDMO SCTL reported their Q2 numbers, cases ranging between pressing needs for budget-slimming and expanding to other markets.

• Psychedelics IP protection: Cybin nabbed a US patent for its deuterated psychedelic analogs and Psilera is advancing its next-gen compounds library.

• Trump opponent Vivek Ramaswamy favors federal marijuana legalization and veterans' use of psychedelics, currently polling third behind Ron DeSantis

• Multifaceted artist Kid Cudi opened up about psychedelics, rehab, fashion brand launch, and being an OG.

• The fear of death dissolved: How psychedelic trips and near-death moments change our outlook on life's end.

• COMPASS' securities purchase agreement “is big news,” analysis by The Dales Report.

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

Psychedelics ETF Weekly Performance

AdvisorShares Psychedelics ETF PSIL opened Monday, August 14 at $1.8, slightly below prior openings at $1.92 and $1.98. On Friday 18, the price is moving between $1.72 and $1.70. 

Week’s highest was on Tuesday, August 15's opening: $1.81, vs. the prior week’s highest point at $1.92.

Week’s lowest is around the shares' current trading price, a somewhat stable number since Thursday 17’s afternoon: $1.71 (vs. the prior week’s lowest at $1.8).

Numbers have lowered since those of the past weeks’, nonetheless the ETF’s yearly price range hasn’t been changed and remains set between $4.35 and $1.65.

Highest Trading Psychedelics Stocks Friday, August 18, Pre-Close

• GH Research GHRS is trading at $10.46 (vs. Friday 11’s closing at $11.94.)

• COMPASS Pathways CMPS is trading at $8.23 (vs. Friday 11’s closing at $8.11.)

• Mind Medicine (MindMed) MNMD is trading at $4.03 (vs. Friday 11’s closing at $4.26.)

• Bright Minds Biosciences DRUG is trading at $2.56 (vs. Friday 11’s closing at $2.37.)

• Enveric Biosciences ENVB is trading at $2.15 (vs. Friday 11’s closing at $2.72.)

• Silo Pharma SILO is trading at $1.94 (vs. Friday 11’s closing at $2.04.)

• atai Life Sciences ATAI is trading at $1.58 (vs. Friday 11’s closing at $1.68.)

• Incannex Healthcare IXHL is trading at $1.54 (vs. Friday 11’s closing at $1.65.)

• FSD Pharma HUGE is trading at $1.36 (same as Friday 11’s closing at $1.36.)

• Seelos Therapeutics SEEL is trading at $1.17 (vs. Friday 11’s closing at $1.44.)

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