LOBE:CC - Trippy Trading: Top Psychedelic Stocks For 2023
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When psychedelicswere first studied more than 50 years ago, researchers discovered thatthey were useful in assisting people in exploring a greater sense ofself. After a half-century hiatus, scientists are once againinvestigating psychedelics and other mind-altering substances such asMDMA, psilocybin, and ketamine as treatments for depression, PTSD,anxiety, and other mental health conditions.
The need is clear, sincethe WHO says that mental health disorders are the leading cause ofdisability around the world and nearly a billion people have some kindof mental illness.
There are many psychedelic pharmaceutical companies developingdrugs that follow the legal regulatory pathway to approval. Several ofthese drugmakers are publicly traded, and they’re receivingincreased attention from investors. We’ve seen a similar phenomenonwith marijuana stocks over the past several years. Cannabis was onceon the fringe but is now a significant and growing industry.
This article willdiscuss four psychedelic therapy stocks that could see significantprice increases in 2023.
Lobe Sciences LTD. (OTC: LOBEF)(CNSX:LOBE) is a lifesciences company focused on practical psychedelic medicines. LobeSciences works with industry leaders to do research and development ondrugs that use psychedelic compounds, as well as to make new devicesand ways to deliver drugs that will improve mental health andwellness.
LobeSciences' main goal is to create new medicines and devices totreat mTBI, PTSD, and other neurological disorders. At the moment, thecompany has filed for five provisional patents, done pre-clinicalstudies, and is working on an engineering design for a drug deliverydevice.
At thetail end of the previous year, the North American company provided anupdate on the most recent developments concerning its clinical trials.Psilocin is the source of the novel compound L-130, which is currentlyundergoing research and development for potential future use.According to the most recent report, we discovered that LOBE hadsuccessfully submitted the required documentation in order to importL-130.
LobeSciences stated in their plan that the first phase 1 clinical trialswould make use of Clearway Global's network of contract researchorganizations, and that they would begin their first subject trial inthe month of December 2022. This indicates that preliminary data willbe accessible in the first quarter of 2023. Astute investors will bewatching for LOBEF to announce the trial results.
CSO of Lobe SciencesMaghsoud Dariani remarked, "It is important to remember that injust 12 months, Lobe has transformed into a fully integrated virtualdrug development company. We now have multiple New ChemicalEntities' (NCE's) including L-130 that is entering humantrials. L-131 is entering pre-clinical trials as we prepare apediatric Orphan Drug Application with the potential of receiving aPriority Review Voucher for L-131. All of this positions Lobe Sciencesamong the leaders in the small group of companies who are in clinicaldevelopment of psychedelic drugs.”
LOBEF has the potential to make a splash this year given thatthe psychedelic therapy industry is positioned for significantexpansion in 2023. Smart investors should put this stock on theirwatchlist because there is a good potential for significant updatesthroughout the year as the company continues to make progress withclinical trials.
Atai Life Sciences (NASDAQ: ATAI) is a clinical-stagebiopharmaceutical company aiming to transform the treatment of mentalhealth disorders.
In the first week of the new year, the stock plummeted when thefailed results of ATAI's NYC-based subsidiary, PerceptionNeuroscience's Phase 2a study of proprietary R-ketamine PCN-101 onpatients with treatment-resistant depression (TRD), were released.
The company saidthat the compound showed efficacy signals at all time points, but thetrial did not meet its primary endpoint of a statistically significantchange from baseline in participants' MADRS (Montgomery-SbergDepression Rating Scale) scores at 24 hours when compared to aplacebo. MADRS is a widely used clinician-rated measure of depressiveseverity.
Inresponse to the results that were shared, ATAI said that it wouldcontinue to look at the study data and work with Perception to figureout what to do next, which could include "seeking strategicpartnership options."
While the company’s stock plunged on the news, down 30% to$1.86 per share, do not count ATAI out, as this study of R-ketaminePCN-101 is one of many ongoing trials the company is working on.
2023 could be a make orbreak year for the company.
Mind Medicine Inc. (NASDAQ: MNMD) is abiotech company that discovers, develops, and commercializespsychedelically inspired medicines and therapies to treat addictionand mental illness. The company is putting together a strong drugdevelopment pipeline based on psychedelic drugs like psilocybin, LSD,MDMA, DMT, and 18-MC, which is a derivative of Ibogaine.
Mind Medicine CEO RobBarrow is looking forward to 2023 and the plans for the company.Recently, he commented, "Following a year of continued strongexecution, our progress in 2022 has set the stage for a meaningful2023, a year in which we plan to further elucidate the potential ofour MM-120 product candidate in generalized Anxiety Disorder (GAD) andinitiate the first clinical trial for our MM-402 program.”
MM-402's preclinicalresults are expected in the first half of 2023, and the company plansto start the first clinical trial this year to assess tolerability,PK, and PD, as well as early efficacy on core ASD symptoms.
With a plan set in placefor the new year, investors should look for big news coming from MNMDthroughout 2023, making it a top runner in the psychedelic stocksector.
CybinInc. (AMEX: CYBN) is a biopharmaceutical company focused ondeveloping safe and effective therapeutics for patients suffering froma variety of mental health issues. The company develops proprietarydrug discovery platforms, drug delivery systems, formulation methods,and mental health disorder treatment regimens to advance psychedelicsas therapeutics.
CYBN is working on developing a proprietary psilocybin analogknown as CYB003. This potential treatment for Major DepressiveDisorder is currently being assessed in a phase 1/2a study.
Another proprietarypsychedelic that CYBN is working on in 2023 is CYB004. This is anintravenous (IV) DMT deuterate, designed for the treatment of anxietydisorders that is being tested in a Phase 1 trial for safety anddosing optimization.
Traditional DMT cannot be taken orally because it ismetabolized. As preclinical results show, CYBN and CYB004 are workingto improve oral and pulmonary bioavailability, onset with lower doses,inter-subject variability, and dose titration for fewer side effectsthan oral and IV DMT.
With multiple trials underway, this stock is another to keep aneye on as 2023 continues.
Conclusion
It is difficult to deny the striking similarities between theexpansion of the medical cannabis market and that of the psychedelicsmarket. Both were once thought to be only for drug addicts anddropouts, but new research has shown that each can treat conditionsthat traditional drugs can't reach.
The overall sentiment toward these medicines is changing, asthey clearly have a place in the medical landscape. Investors hopingto get in and benefit should pay close attention to news and advancesthat these biotech companies make as their clinical researchcontinues.
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