This week in the psychedelic medicine market has been dominated by the news of MindMed getting uplisted to the Nasdaq. The announcement dominated the headlines and its effects rippled throughout the industry. MindMed’s stock continued to skyrocket on Monday in anticipation of the listing, breaking volume records and hitting all-time price highs on Tuesday morning. Read our summary on MindMed’s first day on the Nasdaq here. This recent wave of big industry news seems to have had a steadying effect on the market, with the majority of firms staying out of the red and seeing glimmers of green. Here at Microdose, we took a deeper look at psychedelic decriminalization efforts and reviewed the highlights from our recent Heroic Dose event for veterans. And for your favorite event of the month: PsyCap is tomorrow. Make sure to grab your ticket today for the next Psychedelic Capital on April 29, featuring BetterLife Pharma and NanoPsy. Get a free ticket now. Here is the news from this week:
Revive Therapeutics Files for FDA Orphan Drug Designation Revive Therapeutics announced that it has filed an application with the FDA to receive Orphan Drug Designation (“ODD”) for Psilocybin to treat traumatic brain injury, an important move forward for the company.
PharmaDrug Announces FDA Orphan Drug Designation of DMT PharmaDrug announces that the FDA has granted Orphan Drug Designation (“ODD”) to dimethyltryptamine (“DMT”) for prevention of ischemia-reperfusion injury (“IRI”) in patients undergoing solid organ transplantation – a first in the industry.
Red Light Holland to Enter Oregon Medicinal Psychedelic Market Red Light Holland and Halo Collective Create Red Light Oregon are partnering with the intention to enter Oregon Medicinal Psychedelic Market. “We are delighted to take this next step with Halo. We now have the entity and team in place to begin laying the groundwork for potential future participation in the Oregon Psychedelic Magic Mushroom market.” Said Todd Shapiro, CEO, and Director of Red Light Holland.
Numinus Announces Phase 1 Clinical Trial of Natural Psilocybin Mushroom Extraction The clinical trial will evaluate the safety and psychoactive properties of natural Psilocybin product extracted and formulated at its 7,000-square-foot laboratory in British Columbia, Canada.
PharmaTher Expands Patent Portfolio for Ketamine PharmaTher announced it has filed a US patent application for the novel use of ketamine as a potential treatment for Type 2 diabetes and obesity. PharmaTher is also evaluating repurposing opportunities for DMT, LSD, and MDMA for future clinical development and partnering opportunities.
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