It’s Wednesday and the psychedelic space continues its Jekyll and Hyde act. The industry overall moves steadily ahead with positive news; while the market continues to hesitate and trend downwards (perhaps an interesting opportunity for those thinking of buying some more dip). The Horizon’s Psychedelic ETF (PSYK) continued its slight slide this week, with MindMed, Psyched Wellness, and Braxia (formerly Champignon) dropping several percent. Cybin and Field Trip are currently one of the few stalwarts sitting in the green. At Microdose, we continued our industry features with a look at who will be the next psychedelic company to uplist to the NASDAQ, and a dive into DMT with DMT Therapeutics: An Industry Overview & Clinical Snapshot of the Evolving Landscape. The tickets for Psychedelic Capital to be held on May 31, are available now. Grab your FREE ticket early on! Here are the big news items from this week:

Numinus Submits Psilocybin Extract to Health Canada for Pre-Clinical Trial

Numinus Wellness and Optimi Health have submitted their psilocybin extract to Health Canada for pre-clinical trial approval, another milestone in the development of an all-natural psilocybin extract.

Psyched Hires the National Research Council to Test Compound

Psyched Wellness has the National Research Council of Canada to test and study the anti-inflammatory and antioxidant properties and potential neuroprotective roles of its AME-1 extract – an important step in exploring the potential of the Amanita Muscaria mushroom.

Tryp Therapeutics Partners with Clinlogix for Clinical Trial Support

Tryp announced a service agreement with Clinlogix to support Tryp’s clinical development of its Psilocybin-for-Neuropsychiatric Disorders program -a key step for initiating Tryp’s Phase 2a clinical trial.

Wesana Health Commences Trading on the CSE

Wesana Health, an emerging life sciences focused on the psychedelic and naturally-sourced therapies to treat traumatic brain injury (TBI), began trading on the Canadian Securities Exchange on Monday, May 10 under the ticker symbol “WESA”.