Although psychology and medicine have come a long way in the development and advancement of mental health issues and their treatments, our society is only recently warming up to the awareness, benefits of psychedelics, and mental health issues. And as a result, more companies are inspired and feel supported to enter the psychedelic pharmaceutical sector.
Many such psychedelic companies have immense potential for treating rare diseases and mental health issues and are looking ahead to raise funds for research and development. If you are a conscious investor, take a look at these psychedelic company stocks in Canada that can bring you a hopeful fortune.
Bright Minds Biosciences is a biotech company that develops serotonin medicines to treat issues like mental health and epilepsy, which are often severe or life-altering. The company has a portfolio of selective 5-HT receptor agonists that can be used for treating pain, epilepsy and neuropsychiatry.
Bright Minds have collaborations with many institute and universities for the treatments using their drugs.
Bright Minds have recently entered the psychedelics sector and made their debut on the Nasdaq Stock Market not very long ago. They are looking forward to exploring the leading stock market exchange as their drug candidates are gaining success.
PharmaTher Holdings Ltd Com
A clinical-stage biotech company called PharmaTher holdings Ltd. Com is working on the research, development, and commercialization of psychedelics for many diseases and pain disorders. PharmaTher Holdings Ltd Com is recently working on phase 3 clinical study of psychedelics like ketamine, and they plan to use this formulation to treat Parkinson’s disease. All their clinical trials, including the ketamine, are approved by FDA.
The FDA has also recently allowed them Orphan Drug Designation (ODD) for ketamine for the treatment of Amyotrophic Lateral Sclerosis.
Mind Medicine helps the patients to find the healing power of the mind with the help of their psychedelics. Ever since the company was founded, they have managed to raise $204 million.
The company is partnered with several experts in the field of psychedelics including many leading psychedelic researchers, universities, and institutions. They collaborated with UHB Liechti Lab at the beginning of 2021 for their first clinical trial that combines MDMA and LSD. This collaboration turned out to be successful.
Field Trip Health Ltd.
Field Trip Health Ltd. has a happening 2021 as they have made their entrance in the Toronto Stock Exchange and started a psychedelic-enhanced therapy center in Houston. The Q3 2021 marks the company’s revenues from patient services with an increase of 235 percent quarter-over-quarter (QoQ).
Although the psychedelic industry is still emerging as some of them are in clinical stages and some are waiting for FDA approvals, many conscious investors are already showing enthusiasm about psychedelic company stocks in Canada.