![]() This is especially true after its acquisition of Sairiyo Therapeutics. Research has become the hallmark of PharmaDrug. The main objective is developing the therapeutics of DMT for clinical unmet medical needs not immediately addressable by the drug. DMT will be evaluated for its potential role in normal, diseased, and altered states of consciousness in animal models. Last week the company announced the official start of research via an agreement with the University of Michigan. PharmaDrug is focusing on the medical attributes of N, N-dimethyltryptamine or DMT. Not only does it have a portfolio that includes both cannabis and psychedelic developement, what is being developed is a bit different from your average “mushroom stock”. PharmaDrug is unique on several levels right now. ![]() ( NEO: MMED) ( OTC: MMEDF)īlending Cannabis With Psychedelics On A Global Scale It’s no wonder why so many of these psychedelic stocks are currently penny stocks in this light. This industry’s early stages have become an attraction to those who’ve focused on “emerging growth” type companies. Psychedelic Penny Stocks To Watch This Year Though there weren’t many details about the treatment, it is an interesting tie-in between a market leader like Merck and a psychedelic company. The study focuses on Merck’s drug for treatment-resistant depression. Merck selected Novamind’s Cedar Clinical Research as a research site for a clinical trial focused on treatment-resistant depression. Merck ( NYSE: MRK) recently inked a partnership deal with Novamind ( OTC: NVMDF). ![]() In fact, recent headlines have emphasized the opportunity in psychedelic stocks. However, it didn’t stop there with Big Pharma’s blooming interest. Johnson & Johnson had initially broached the opportunity to develop a ketamine-like drug for treating depression a few years back. It also helped that famed investor Peter Thiel was behind the CMPS IPO.Īside from notable investors, you’ve also got to consider that big pharma has taken a considerable interest in this uncharted territory as well. Most notably, the IPO of Compass Pathways ( NASDAQ: CMPS) brought validity, in some respect, to this as a viable industry. Unlike cannabis, psychedelics haven’t had as hard a time gaining traction in the public markets. Early Adopters In Psychedelics Spark Interest In Penny Stocks This is something that we’ve begun to see in psychedelics. Now it isn’t so “unlikely” for a trendy industry to actually become something more than just a fad. It’s also based on changes in the mentality of investors. This isn’t just based on the birth of a new industry. The interesting part is that many of the early analysts doubted the industry’s future, saying it was just a fad.Ī lot has changed since the first cannabis company went public. They’ve reached the highest highs and fell to the lowest lows, all while carving out a brand new industry during the last half-decade. Marijuana stocks have gone through the paces. A prime example of this is the cannabis industry. Many of these trends go on to evolve into something much bigger than ever thought. We saw it during the early days of cannabis legalization, as well as during the 2018 bitcoin craze and most recently with all of these “ NFT stocks.” Those of you who’ve been in the markets for the last few years are likely familiar with this trend. Like any “fringe industry,” there’s plenty of hype and speculation driving momentum behind penny stocks in certain industries. Psychedelic Penny Stocks Continue Gaining Ground Among Mainstream Investors
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