A Surge in Investment

A decade after it was founded as a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), MAPS Public Benefit Corporation has secured over $100 million in a Series A private stock sale. The funds will support the final stages of its application for regulatory approval to sell MDMA, also known as ecstasy, as a treatment for post-traumatic stress disorder (PTSD).

This establishes MAPS as an industry leader, incubating the only psychedelic-assisted therapy research program that has completed two successful Phase 3 studies and submitted a New Drug Application to the FDA.

Government Support Breakthrough

In a groundbreaking move, the U.S. Department of Veterans Affairs (VA) is launching new studies on using psychedelic compounds to treat post-traumatic stress disorder (PTSD) and depression among military veterans. This marks a significant shift for the VA, representing the first such research since the 1960s, reported Military Times.

This marks a significant shift for the VA, representing the first such research since the 1960s, reported Military Times.

Key Figures to Follow

Key players and influential figures worldwide are helping drive innovation and acceptance around psychedelic medicines. Trailblazers in this industry come from diverse backgrounds including scientists, investors, advocates, publicists, journalists, and policy reformers.

This list includes some of the biggest movers and shakers from various countries and companies, ranging from emerging startups to major corporations whose work collectively underscores the global scope of this mental health movement centered on psychedelic therapy.

Progress in Policies

Parallel to recent federal decisions by President Biden and the VA, state-level psychedelics policy reform is moving fast throughout the country.

Since our previous update and as of Jan. 9, 2024, the latest moves are taking place in Arizona, California, Illinois, Indiana, Massachusetts, Missouri, Nevada, New Hampshire, New York, Rhode Island, Virginia, Washington, and Wisconsin.

Market Performance Evaluation

AdvisorShares Psychedelics ETF PSIL opened Monday, Jan. 8 at $1.41, following prior weeks’ openings at $1.42, $1.42, and $1.34 (Jan. 2, Dec. 26, and Dec. 18, respectively.)

On Friday, Jan. 12, it closed at $1.47, following prior closings at $1.44, $1.39, and $1.42 (Jan. 5, Dec. 29, and Dec. 22, respectively.)

The Highest Trading Psychedelics Stocks Friday, Jan. 12 At Close

• COMPASS Pathways CMPS closed at $8.44, falling from prior closings at $8.76, $8.75, and $8.75.

• GH Research GHRS closed at $6.03, jumping from prior closings at $5.37, $5.80, and $5.49.

• Incannex Healthcare IXHL closed at $4.30, again in the upward trend considering prior closings at $4.10, $4.64, and $3.92.