GWPH - Forget Cannabis: Psychedelic Medicine Is the Better Investing Opportunity
The global march toward cannabis legalization has seemingly awoken another long dormant area of scientific interest: psychedelics as medicine. While the idea of using LSD, MDMA, and psilocybin (the main hallucinogenic compound in magic mushrooms) to treat mental health disorders is far from a trail-blazing concept, this whole area of research had been off limits for the better part of the last 50 years. Then, something strange happened.
In 2018, the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation (BTD) to Compass Pathways' psilocybin therapy for treatment-resistant depression. A few months later, the agency awarded BTD for Usona Institute's psilocybin therapy for major depressive disorder. In lockstep with the FDA's more open-minded approach toward psychedelic medicine, Denver, Oakland, and Santa Cruz all decided to decriminalize magic mushrooms. Hundreds of other U.S. cities are reportedly considering similar measures at the moment.
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