ATAI - Interest in shroom stocks rises as investors see potential of psychedelics as therapy

Moha El-Jaw/iStock via Getty Images "Magic mushrooms," LSD, and MDMA, once thought to be purely recreational drugs, are under investigation by many publicly traded companies as potential psychedelic treatments for a range of diseases. An increasing amount of research is demonstrating that the active ingredients in psychedelic drugs may hold promise to treat conditions such as depression, post-traumatic stress disorder, and anxiety. The market for prescription psychedelic therapies got validation in 2019 with the FDA's approval of Johnson & Johnson's ([[JNJ]] -0.2%) Spravato (esketamine), a derivative of the anesthetic ketamine, for treatment-resistant depression and major depression with suicidal thoughts and actions. Many companies now have psychedelics under development in the clinic. Here's a look at a few of them that trade on U.S. exchanges. COMPASS Pathways Perhaps the largest company in terms of market cap focused exclusively on psychedelic treatments is COMPASS Pathways ([[CMPS]] +0.7%), which just had its IPO

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Interest in "shroom stocks" rises as investors see potential of psychedelics as therapy