Good call. Psychedelics are about to be a multi-billion dollar industry and EMD is at the forefront of it. Here are some excerpts you guys might find interesting!
Atai Life Sciences, a Berlin-based company backed by tech investor Peter Thiel, announced plans in late April to raise $US100 million ($129 million) in an initial public offering.
New York-based MindMed, which already trades on the Canadian and German exchanges, moved on to Nasdaq last week. They will join London-based Compass Pathways, also backed by Thiel, which joined Nasdaq last September.
The quoted psychedelic companies, which also include Canadian companies Cybin, Field Trip Health and Numinus Wellness, together have a market value of more than $US3.5 billion.
Compass and MindMed are the biggest pure-plays, though drug giant Johnson & Johnson also figures. Its ketamine-derived depression treatment Spravato was designated a breakthrough therapy by US regulators in 2019.
Compass’ formulation of synthetic psilocybin, the psychedelic ingredient found in magic mushrooms, also secured that designation.
A small trial by British scientists found in April it was at least as effective as a leading antidepressant drug. Peak sales could be more than $US2.5 billion, says Berenberg.
The global market for psychedelic drug treatments will nearly triple to $US7.6 billion in the eight years to 2028, predicts Data Bridge Market Research.
With EMD in bed with MindMed it's only a matter of time before a rerate. Most of these catalysts are due in a matter of months as noted by other posters. Absolutely tiny market cap for the clinical dataset they are leveraging. Management are credible and one has been involved in a company that was acquired at a huge valuation. My conservative predictions are circa $1.00 by Q3 /we this year possible with success on any one of their many irons in the ... After that, this could well be the next RACE in 12 months.
