The psychedelics sector is growing. Here’s a look at the top psychedelics stocks so far in 2021 based on year-to-date share price gains.
The psychedelic investment market has seen critical developments in 2021, and alongside that progress players in the stock market have achieved significant movement.
The possibilities of psychedelic medicine revolve around the completion of rigorous medical studies under the eyes of regulators. This list of top psychedelics stocks focuses on the biggest gainers by share price so far this year, and includes companies dedicated to advancing psychedelic medicine.
Data for this top psychedelics stocks article was collected on July 9, 2021, and the companies included had to meet a minimum market cap requirement of C$10 million. Companies listed on the Psychedelic Stock Index at the time of publication were considered.
1. PharmaTher Holdings (CSE:PHRM,OTCQB:PHRRF)
Year-to-date gain: 207.69 percent; current market cap: C$62.06 million; current share price: C$0.80
The top psychedelics stock so far this year has had a busy 2021, with a focus on its ketamine studies.
In May, PharmaTher Holdings obtained approval from the US Food and Drug Administration (FDA) to study the safety of ketamine in treating dyskinesia in patients with Parkinson’s disease. “We are committed to building a rich product pipeline of novel uses, formulations and delivery methods of psychedelics,” Fabio Chianelli, CEO of the firm, said. The study will begin recruiting patients in Q3 2021.
PharmaTher is also hopeful about the possibility of using ketamine with patients suffering through amyotrophic lateral sclerosis, and applied for orphan drug designation from the FDA this year.
2. Seelos Therapeutics (NASDAQ:SEEL)
Year-to-date gain: 81.51 percent; current market cap: US$277.98 million; current share price: US$2.65
This US-based biopharmaceutical company has created a psychedelics development division.
The company has a candidate, SLS-002, that is based on intranasal ketamine delivery to treat major depressive disorder. Thanks to this study, shares of the firm were added to the Horizons Psychedelic Stock Index ETF (NEO:PSYK) when it initially launched.
Most recently, the firm told investors it has started dosing patients as part of the current stage of studies for SLS-002. “The goal of the development of SLS-002 in treating suicidal patients is to radically change the current standard of care,” Raj Mehra, chairman and CEO of Seelos, said.
3. Field Trip Health (TSX:FTRP,OTCQX:FTRPF)
Year-to-date gain: 72.85 percent; current market cap: C$408.06 million; current share price: C$6.62
Field Trip Health has used 2021 to continue raising its profile as a top psychedelics stock. In the first half of 2021, the company uplisted to the Toronto Stock Exchange and applied for a NASDAQ listing as well.
The company originally pitched itself as a clinic operator administering ketamine therapies to people for mental health improvements. Field Trip has a psychedelics research facility based in Jamaica, a collaboration with the University of the West Indies.
Field Trip told investors in June that it is working on progressing the use and capability of FT-104, its psychedelic molecule, for testing studies.
4. Goodness Growth Holdings (CSE:GDNS,OTCQX:GDNSF)
Year-to-date gain: 23.4 percent; current market cap: C$178.03 million; current share price: C$2.32
Goodness Growth Holdings, formerly known as Vireo Health, is a cannabis operator with assets in the US. Alongside its cannabis focus, the firm has operations in the psychedelics space by way of its subsidiary Resurgent Biosciences.
“Resurgent’s expansion into psychedelics represents a natural extension of our team’s medical and scientific expertise, and frankly, we believe the opportunities for psychedelics to transform the future of mental health and psychiatry are far too significant for us to ignore,” Kyle Kingsley, chairman and CEO of Goodness Growth, commented.
5. Mind Medicine (MindMed) (NASDAQ:MNMD,NEO:MMED)
Year-to-date gain: 20.96 percent; current market cap: US$3.52 billion; current share price: US$1.49
It has been a busy time for MindMed, the first publicly traded company exclusively focused on psychedelic medical research. So far in 2021, the top psychedelics stock has announced a brand new type of study using MDMA and LSD in combination.
The firm also saw a critical change in the turnover at its CEO position. J.R. Rahn, founder and now former CEO, stepped down, with chief development officer Robert Barrow assuming the position in June.
Want a more complete look at psychedelics companies? Click here for our list of psychedelics stocks to watch.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.