The first cannabis-related company to be listed on the Nasdaq stock exchange, Canada’s Hydropothecary Corporation, has had a roller coaster ride lately. The company grew its share price more than 1000% in less than two months before it took a large hit last week after they were named DRUG by the US Drug Enforcement Agency. This is not the end of their story and will likely go onto bigger things in years to come.,
The “list of psychedelic stocks” is a list that includes the stock symbol and company name. The list was released by a cannabis company, which listed on NASDAQ as “DRUG”.
Bright Minds’ BMB-101 is part of a new generation of therapeutic psychedelics.
Bright Minds Biosciences’ stock will begin trading on Nasdaq today under the ticker code “DRUG.” Under the same ticker, Bright Minds is already traded on the Canadian Stock Exchange (CSE:DRUG). The Nasdaq Stock Market LLC accepted the company’s common stock to be listed on The Nasdaq Capital Market.
Bright Minds’ team of drug designers created psychedelics to make them safer and more accessible to a broader patient group, including those who are at the end of their therapy choices while dealing with treatment-resistant illnesses. The firm now has numerous patented medications in the late-preclinical stage of development, particularly 5-HT2C and 5-HT2C+5HT2A agonists.
Dravet syndrome, a particularly persistent epileptic illness prevalent in children, is difficult to treat with standard medications. As a result, a growing number of patients are turning to cannabis, a moderate psychedelic, to help them cope. Charlotte’s Web, for example, is named after the late Charlotte Figi, after whom the strain was named. Scientists are now looking at psychedelics as a possible treatment for the disease, which have shown to have impressive capabilities so far.
In in-vitro and in-vivo preclinical tests for juvenile epilepsy, the company’s primary new drug, BMB-101, demonstrated effectiveness and reduced episode length by 74%. Early in 2022, the business intends to begin clinical studies using the chemical.
The “psychedelic drug revolution” is re-inventing treatment as we know it, and Bright Mind Biosciences’ leadership is ecstatic. There is a resurgence of interest in the medicinal advantages of substances including psilocybin, ketamine, MDMA, and others.
“We’re bringing the drugs of the 1960s back to life!” And, to be honest, owing to contemporary scientific understanding and assisting a lot of people along the road, they’re even better than they were back then,” Bright Mind Biosciences CEO Ian McDonald told High Times.
Bright Minds offers a pipeline of serotonin agonists aimed at “neurocircuit anomalies” that cause hard-to-treat conditions such intractable epilepsy, treatment-resistant depression, PTSD, and pain. The business develops chemicals in order to reduce the negative effects of first-generation psychedelics like psilocybin.
In a news statement, McDonald also highlighted the severe condition that persons with Dravet syndrome endure. “As we continue to progress our unique medication candidates in pursuit of an enhanced generation of targeted serotonin-based medicines, our Nasdaq listing represents a significant business milestone for Bright Minds,” McDonald said. “We are proceeding toward first-in-human trials with our primary therapeutic candidate, BMB-101, for the treatment of Dravet syndrome, a terrible congenital and hereditary condition affecting the nervous system, based on positive preclinical findings across various indications.” The trials are expected to begin in the first half of 2022.”
The business stated in August that BMB-101 had shown effectiveness in Dravet syndrome rat models. Furthermore, BMB compounds have a consistent and similar impact to other prescription anti-epileptics like fenfluramine.
BMB-101 differs from cannabis in that neither THC nor any other cannabinoids or terpenoids found in cannabis plant material have been shown to have direct effects on receptors linked to psychedelics of comparable classes.
Bright Minds’ Nasdaq listing puts them in a considerably stronger position in the already competitive psychedelic market.
McDonald stated, “Bright Minds is also dedicated to generating strong returns to our stockholders.” “Trading on the world’s most liquid market, which is open to all investors, allows us to continue to achieve that goal.” We look forward to maintaining our strong competitive position by working closely with all of our important stakeholders—scientific, medical, and capital markets.”
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The “psychedelic stocks to invest in 2021” is a company that has recently been listed on NASDAQ as ‘DRUG’. The company is currently selling for $1.00 per share and was founded in 2014.
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