psychedelic penny stocks to watch mushroom stocks

Could Mushroom Penny Stocks Bloom After The Latest Multi-Million Dollar Bet?

While mushroom penny stocks are still very new, the recent focus by investors can’t be ignored. I think the cannabis industry helped pave the way for alternative medicines to go a bit more mainstream. While there is surely more research to do, one thing’s certain which is science has found potential. Similarly, the use of psychedelics or their derivatives is starting to gain traction in the study of neurological disorders.

The U.S. FDA granted Breakthrough Therapy Designation to Compass Pathways in 2018. It was for their psilocybin therapy to treat depression. Shortly after that, Usona Institute also received the Designation for its psilocybin therapy for depression disorder. As you may or may not know, these events helped pave the way for the eventual decriminalization of magic mushrooms in places like Denver, Santa Cruz, and Oakland in a novel directive favoring psychedelic medicine.

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Then you have big events from some of the biotechnology sector‘s leaders, Johnson & Johnson (JNJ Stock Report). In 2019, the company received FDA approval for a ketamine-derived medicine called Spravato. Again, this was aimed at treatment-resistant depression. While ketamine in its raw form is well-known as a hallucinogen, JNJ was able to derive certain compounds and utilize them in Spravato. So it makes sense that investors are searching for some mushroom penny stocks to add to a watch list.

A Breakthrough For “Mushroom Stocks”?

Citing the initial marijuana stock boom, psychedelic penny stocks are creating a similar type of buzz. This time around, however, investors appear to be more keen to weighing hype and true fundamentals. There’s more of a strategy right now investing in penny stocks like these compared to the mad dash and blind buying of marijuana penny stocks a few years back.

DARPA psychedelic

Earlier this month, UNC School of Medicine reported that the Defense Advanced Research Projects Agency (DARPA) funded a project to create new medicines to treat depression, anxiety and substance abuse without major side effects. The four-year, $26,975,142 agreement will give UNC School of Medicine’s Bryan L. Roth, MD, PhD and hit team resources to lay the R&D groundwork.

Roth, who also directs the National Institute of Mental Health Psychoactive Drug Screening Program, based at UNC-Chapel Hill said,

“Although drugs like ketamine and potentially psilocybin have rapid antidepressant actions, their hallucinogenic, addictive, and disorienting side effects make their clinical use limited. Our team has developed innovative methods and technologies to overcome these limitations with the goal of creating better medications to treat these neuropsychiatric conditions.”

Given this major breakthrough that was reported by UNC on June 18th, are mushroom penny stocks on your list right now?

Mushroom Penny Stocks To Watch: Revive Therapeutics Ltd.

As a multi-faceted biotechnology company, Revive Therapeutics Ltd. (RVVTF Stock Report) (RVV) has made strides for several indications. First, the company’s focus on Bucillamine brought it into the coronavirus spotlight. The company’s aim is utilizing Bucillamine for the potential treatment of infectious diseases. The initial focus is on severe influenza strains including COVID-19. Furthermore, the company’s progress with psilocybin has become a more recent target for advancement.

With its acquisition of Psilocin Pharma Corp., Revive Therapeutics is expanding on the development of Psilocybin-based therapeutics in various diseases and disorders. The company entered into a sponsored research partnership agreement with the University of Wisconsin-Madison to evaluate novel formulations and drug delivery technology focused on psilocybin-based pharmaceuticals.

[Read More] Penny Stocks To Watch Before July 4th

Under the agreement, Dr. Reed and his research team will evaluate psilocybin-based formulations and the patented Tannin-Chitosan composite drug delivery technology for psilocybin, in which the Company has an exclusive license with the Wisconsin Alumni Research Foundation.

Recent News From Revive

Earlier this month, Revive announced the expansion to the partnership with the University. This was to evaluate novel formulations of psilocybin and a Phase 1 clinical study. The study is for investigating the therapeutic application of psilocybin for an undisclosed addiction use disorder. Revive said final formulations will be investigated in pre-clinical and clinical studies in various diseases and disorders. 

The Company has identified tannin-chitosan composite thin films as the lead candidate for the development of a unique delivery platform for therapeutic doses (1-20mg) of psilocybin into the oral cavity. Revive has been a company in focus since the start of May with shares rallying from around $0.11 to highs of $0.274. After pulling in for the last few weeks, RVVTF stock has once again started to jump this week.

mushroom penny stocks to watch Revive Therapeutics (RVVTF stock chart)

Mushroom Penny Stocks To Watch: Seelos Therapeutics Inc.

Seelos Therapeutics Inc. (SEEL Stock Report) may not be one of the traditional “mushroom penny stocks”. But it has conducted work in psychedelic-related treatments. The company’s pipeline products include SLS-002, for instance. This is intranasal racemic ketamine for patients with suicidality in post-traumatic stress disorder and depressive disorder. The company’s pipeline also includes a small molecule, partial dopamine agonist for Parkinson’s Disease.

SEEL stock is another one we’ve discussed since May. At the time, shares were trading around $0.79 and have since jumped as high as $1.70. This month the company came out with big news on its study on SLS-002. Final safety data from its Phase I pharmacokinetics/pharmacodynamics Study of SLS-002 came out and showed that the treatment was “safe and well tolerated” across all doses.

Recent News From Seelos

The company received feedback from the FDA supporting the design of a 16-day study for Acute Suicidal Ideation and Behavior in patients with Major Depressive Disorder. Seelos plans on starting that this fall.

“It is heartening to see that all intranasal doses were judged to be generally safe and well tolerated, and the resolution of dissociative side-effect among all doses by the one hour timepoint for this group mean affords that this therapy is truly differentiated, which enables Seelos to evaluate SLS-002 in indications beyond ASIB, such as first line MDD,” said Raj Mehra , Ph.D., Chairman and CEO of Seelos. Given the fact that shares have pulled back from those previous highs, will SEEL remain one of the psychedelic stocks to watch in Q3?

mushroom penny stocks to watch Seelos Therapeutics (SEEL stock chart)

Mushroom Penny Stocks To Watch: MindMed Inc.

When you talk about mushroom stocks, MindMed Inc. (MMEDF Stock Report) (MMED) frequently holds a position in the conversation. The company focuses on psychedelic inspired medicine and aims to optimize dosing of things like MDMA, LSD and other psychedelics. They’ve taken a customized approach to the model based on patients’ profiles.

This month, MindMed, in collaboration with the University Hospital Basel, filed two separate patent applications. These were for technologies to screen and optimize the dosing of MDMA and LSD. The company also previously acquired the worldwide exclusive license to a collection of human safety data and pharmacokinetics. These were on both LSD and MDMA from the University Hospital Basel. This data set is based on over 10 years of scientific and clinical research at the Liechti Lab, according to MindMed.

Recent News From MindMed

What’s more is that MindMed released news after the market closed on Friday. Could that have been a catalyst to start the week? Essentially the corporate update described MindMed’s operating footprint. It gave a status update on several key targets of the company’s work.

MindMed Co-Founder and Co-CEO JR Rahn said, “Our progress in the past few months clearly demonstrates the quality of our team and the pace at which we operate as a company. We are honored to pioneer the fast growing psychedelic inspired medicines industry alongside peers including COMPASS Pathways, ATAI Life Sciences and non-profits MAPs, USONA and the Heffter Institute.”

Whether it was the PR or general market excitement for psychedelic penny stocks, MMEDF shares rose on June 29th. After opening at $0.3231, the penny stock jumped to a high of $0.36 by the lunch hour. The big question has everything to do with this recent market trend. There are now tens of millions of dollars flowing into R&D from the likes of DARPA and other firms. Will mushroom penny stocks like these continue along with this current trend next quarter as a result?

mushroom penny stocks to watch MindMed (MMEDF stock chart)
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