Why Companies Are Betting Big On Psychedelic Drugs To Treat Mental Health Epidemic
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PALM BEACH, Fla., April 28, 2021 /PRNewswire/ Psychedelic medicine is having a moment. Once dismissed as a party drug for its hallucinogenic effects, ketamine is emerging as a novel alternative treatment for depression. For most, psychedelic drugs conjure up images of the 1960 s, hippies tripping out on LSD or magic mushrooms. However, early studies are finding that psilocybin – the active agent in magic mushrooms – could treat addiction, depression, anxiety and mental health conditions like post-traumatic stress disorder (PTSD). Similarly, cancer patients with painful anxiety over their illness have found more peaceful acceptance after participating in a study that involved intensive therapy and being given a drug that was once a symbol of the 60 s counterculture. Last year, the US Food and Drug Administrati
Canopy Growth Corp (CGC), COMP SERVICES (CMPS), CURALEAF HLDGS INC by Curaleaf Hldgs Inc (CURLF), MIND MEDICINE MINDMED by MIND MEDICINE MINDMED INC (MMEDF), MYDECINE INNOV GRP by MYDECINE INNOVATIONS GROUP INC (MYCOF), Red White & Bloom Brands (RWBYF), Supreme Resources (SPRWF) - Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
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Baystreet ca - Mainstream Mental Health is Quickly Embracing Psychedelic Drug Therapies
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MindMed (OTCQB:MMEDF) released its full-year 2020 financial results.
The company posted a net and comprehensive loss of $35.1 million for the year ended Dec. 31, 2020. Its total assets at the end of the reporting period were $85.6 million, counting $80.1 million in cash.
The company used $24.2 million of net cash in operating activities in 2020.
Its cash balance as of Tuesday last week hovered at $161 million. The company plans to use the money to improve its portfolio and develop its technology sector.
On Monday, MindMed also revealed the results of a study on personalized MDMA dosing, conducted in conjunction with the Liechti Lab at the University Hospital Basel, in Switzerland.