Psychedelic drugs have shown a lot of potential with regard to managing various mental health conditions. Canaccord Genuity Capital Markets analyst Tania Gonsalves states that more investors are getting into the psychedelic space, which may be worth nearly $100 billion. The psychedelic space is also becoming more mainstream as more and more cities decriminalize psychedelics such as psilocybin. Santa Cruz, Denver and Oakland legalized psilocybin use with the state of Oregon becoming the first state in the United States to legalize the use of psilocybin in a therapeutic setting.
Top psychedelic firms to watch include New Wave Holdings Corp. (CSE: SPOR) (OTC: TRMND) (FWB: 0XM2), COMPASS Pathways Plc (NASDAQ: CMPS), Numinus Wellness Inc. (OTC: LKYSF) (NEO: NUMI) (TSX.V: NUMI), Mydecine Innovations Group Inc. (CSE: MYCO) (OTC: MYCOF) and Mind Medicine Inc. (OTC: MMEDF) (NEO: MMED).
Numinus Wellness is a firm focused on developing…
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