As a result of the on-going COVID-19 pandemic, 2020 has been an historic year for private and public sector businesses across economies the world over. However, despite ongoing headwinds related to the pandemic, Letshego Group has shown strong business resilience. From the outset of the pandemic, Letshego has reiterated its commitment to prioritising the health and wellbeing of its customers and people, while maintaining business continuity through the launch and enhancement of digital access channels and systems, all while tempering its risk appetite for the ensuing business conditions.
Business Performance and Resilience
In the second half of the year, Letshego’s financial performance is projected to show an improvement on the first half, in both operating income and profit before tax, while the effective tax rate should remain in the same range.
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The Nascent Psychedelic Industry is Booming as Several Companies Have Gone Public and More are Expected to Follow This Route in 2021 to Attract More Capital From Institutional and Retail Investors
Competition among the dozens of biopharmaceutical companies is fierce. Many are seeking more capital to conduct expensive and lengthy drug trials and develop intellectual property to synthesize the molecules to help treat various mental disorders. The companies that can bring their Psychedelic drugs to the market first will emerge from the pack and could likely hit a home run. “Within the next six to 12 months, we will see an arms race in the psychedelic space as companies try to innovate and get their drugs to trials and to the market,” says Jason Spatafora, co-founder of MarijuanaStocks.com and head trader at TrueTradingGroup.com. ATAI Life Sciences, a Berlin-based biotech company that is researching both Psychedelic and nonpsychedelic compounds, is expected to go public in 2021
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