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TDR’s Top 5 Psychedelic Developments For The Week Of June 7

Welcome to TDR’s review of the Top 5 Psychedelic developments for the week of June 7. Aside from presenting a synopsis of events, we provide market commentary to summarize the week that was for publicly-listed companies. 5. Field Trip Health Applies…

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Welcome to TDR’s review of the Top 5 Psychedelic developments for the week of June 7. Aside from presenting a synopsis of events, we provide market commentary to summarize the week that was for publicly-listed companies.

5. Field Trip Health Applies to List Its Common Shares on the NASDAQ Stock Market

Field Trip Health (CNSX: FTRP) (OTCMKTS: FTRPF) announce that it has applied to list its common shares on the NASDAQ Stock Market.

In advance of an anticipated listing on NASDAQ, Field Trip will file a Registration Statement with the United States Securities and Exchange Commission. The listing of common shares on NASDAQ remains subject to the review and approval of the listing application and the satisfaction of all applicable listing and regulatory requirements, as well as effectiveness of the registration statement. Field Trip will continue to maintain the listing of its Shares on the Toronto Stock Exchange under the symbol “FTRP”.

4. Connecticut Governor Signs Psychedelics Study Measure

The governor of Connecticut signed legislation that includes language requiring the state to carry out a study into the therapeutic potential of psilocybin mushrooms.

Gov. Ned Lamont (D), who may also see a marijuana legalization bill delivered to his desk if the legislature succeeds in approving it this week, signed off on the psychedelics policy proposal as part of a broader package of health reform initiatives.

The provision stipulates that the Department of Mental Health and Addiction Services must convene a working group, which needs to include legislators familiar with public health issues, to “study the health benefits of psilocybin.

__________

Anxiety Disorder Steadily Rising During The Opening Months Of The COVID-19 Pandemic

__________

3. Big Gains In The Psychedelic Sector As Biotech Stocks Have Their Best Week Since September 2020

The biggest psychedelic stocks were higher this week, with the Horizon Psychedelic Stock Index ETF (PSYK) soared 9.01% as biotech stocks had their best week since last September. Still, PSYK did manage to outperform both the Nasdaq Junior Biotechnology Index (7.03%) and Nasdaq Biotechnology Ishares ETF (5.94%), as key leadership stocks such as CMPS broke out of recent ranges. The week’s rally should also come as no surprise to regular readers, as we commented in last week’s Top 5: “We also note the potential for an Atai Life Sciences IPO—which may occur soon—to light a fire under the market for a few sessions, providing short term trading opportunities.” That’s exactly what took place.

While it was a great week for the sector, our technical indicators and volume overlays are not signaling a breakout… yet. From a trading perspective, we are treating this as an oversold bounce off of compressed price action from an oversold condition. Biotech stocks, which started the week on fire after the FDA approved Biogen’s Alzheimer’s disease drug aducanumab, lifted all boats.

Still, it was nice to see bellweathers such as MindMed shake off news of the departure of its CEO (and associated insider selling the week prior) to advance 22.88%. Certainly, a confidence-building week for a sector which had been mostly licking its wounds since MindMed uplisted to NASDAQ in late April. Strong participation in smaller market cap issues such as PharmaTher Holdings was encouraging, as the ketamine drug development and delivery specialist soared ↑60.52% to a new weekly closing high. TDR penned an article on June 9 on how PharmaTher was (justifiably) strongest stock in the whole psychedelic space this past quarter, and they showed it once again this week.

Congratulations to long term focused investors who have remained patients and strategically added on dips over the past several weeks. We suspect this will remain the best way to navigate the market through the balance of the summer months.

CompanyTickerPrice ($)Weekly Change (%)WoW Volume TrendMarket Cap (s/o)
Compass PathwaysCMPS39.6819.48US$1.63B
Mind MedicineMNMD3.9222.88US$1.34B
Seelos TherapeuticsSEEL3.36-0.59US$342.1M
Field Trip HealthFTRP6.3514.41C$363.9M
Cybin Inc.CYBN1.831.66C$234.0M
Numinus WellnessNUMI1.0314.44C$208.1M
Small PharmaDMT0.5019.04C$158.4M
Revive TherapeuticsRVV0.476.81C$149.0M
Mydecine InnovationsMYCO0.3051.66C$72.5M

In the news…

Braxia Scientific announces that the American Journal of Psychiatry, the most widely read psychiatric journal in the world, has published the International Expert Opinion and Implementation Guidance for the clinical use of rapid-acting Ketamine and Esketamine for treatment-resistant depression (TRD). The Guidelines were developed and led by Braxia’s CEO Dr. Roger S. McIntyre, M.D., and Braxia Health Medical Director, Joshua Rosenblat, M.D.

Cybin Incannounced that it will co-sponsor a randomized, placebo-controlled trial of psychedelic-assisted psychotherapy with psilocybin for frontline clinicians experiencing COVID-related distress. The study will aim to treat symptoms of depression, anxiety, burnout and post-traumatic stress among frontline doctors, nurses and healthcare professionals.

GH Research Plc has filed a Form F-1 filing with the SEC to register securities issued by foreign issuers for the purpose of bringing an Initial Public Offering to market. The 5-MeO-DMT drug developer announced the closing of a $125 million Series B financing round in April. Along with Small Pharma, is a leader in the research and development of DMT (+analogs) for depressive mental health disorders.

Mydecine Innovations Group  has made significant advances in psilocybin research with the discovery of over 40 compounds with pharmacological potential in mushrooms. Of these compounds, a large majority appear to have never been reported before and could be vital to the critical effects of naturally-sourced mushrooms on human health and wellbeing.

MYND Life Sciences has filed additional provisional patents that utilize various psilocybin analogs to target clinical depression. MYND has two flagship drugs in the development pipeline; MYND-604 and MYND-778. MYND-604 is the lead candidate being developed as a novel oral dosage to treat MDD and brings much needed innovation to the Selective Serotonin Reuptake Inhibitor market.

PharmaDrug Inc. announced that its Super Smart division has launchedSlim Winkel branded online retail platform in The Netherlands and Europe. Management believes launching the online smart shop will enable the company to establish and build its brand while the brick-and-mortar strategy was put on hold until the end of the pandemic.

PharmaTher Holdings provided an update on the research and development initiatives of its psychedelic product programs and upcoming milestones for 2021. Some of the anticipated highlights include completing a Phase 2 study with ketamine to treat Parkinson’s disease, a Phase 2 study with KETABET for treatment-resistant depression.

Psyence Group announces the incorporation, and operational commencement, of its wholly owned Jamaican subsidiary. Psyence Jamaica will initially focus on naturally derived psilocybin for the treatment of patients in a palliative care setting.

Tryp Therapeutics CEO Greg McKee explains to TDR that his company stands to benefit should California implement a bill to legalize psychedelics possession. The legislation sponsored by Sen. Scott Wiener (D) passed 21-16 on the Senate floor and could extend well beyond the consumer market and into structured state and federal regulatory frameworks.

2. MindMed Announces Chief Executive Officer Transition

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED) announced that J.R. Rahn, the company’s co-founder and chief executive officer, is stepping down as chief executive officer and a director. MindMed’s Chief Development Officer, Robert Barrow, will assume the position of CEO immediately on an interim basis.

MindMed intends to initiate a comprehensive search for a chief executive officer, in which Mr. Barrow will be a candidate, and Mr. Rahn will advise the company during its leadership transition. The transition of the Company’s leadership team will enable the Company to pursue aggressively its clinical development programs and development of its companion innovative digital technologies.

During Mr. Rahn’s tenure as CEO, he helped to assemble a diverse clinical pipeline, establish world class research partnerships and was an instrumental part of the leadership team as MindMed went public on the NEO Exchange and recent uplist on the Nasdaq Stock Market. Under Mr. Rahn’s leadership, MindMed has raised over US$204 million, making it one of the most well-capitalized companies in the psychedelic medicine industry. Mr. Rahn led the hiring of the Company’s world-class drug development and technology team capable of bringing psychedelic inspired medicines to market through a regulatory pathway worldwide.German psychedelic startup Atai targets valuation of $2.3 bln in U.S. IPO.

1. Atai Life Sciences Announces Launch of Initial Public Offering

Atai Life Sciences B.V. a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, announced the commencement of a proposed underwritten initial public offering of 14,286,000 of its common shares. All common shares to be sold in the proposed offering will be sold by Atai.

The underwriters of the offering will have a 30-day option to purchase up to an additional 2,142,900 common shares at the initial public offering price, less the underwriting discounts and commissions. The initial public offering price is expected to be between $13.00 and $15.00 per common share. Atai has applied to list its common shares on the Nasdaq Global Market under the ticker symbol “ATAI.”

Credit Suisse, Citigroup, Cowen, and Berenberg are acting as book-running managers for the proposed offering. Cantor, RBC Capital Markets and Canaccord Genuity are also acting as book-running managers for the proposed offering.

The post TDR’s Top 5 Psychedelic Developments For The Week Of June 7 appeared first on The Dales Report.

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Government

Top Stories This Week: Gold Manipulators Go to Court, Silver’s Industrial Side in Focus

Catch up and get informed with this week’s content highlights from Charlotte McLeod, our editorial director.
The post Top Stories This Week: Gold Manipulators Go to Court, Silver’s Industrial Side in Focus appeared first on Investing News Network.

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The gold price held above US$1,800 per ounce this week, finishing the period around that level, which is down from last week’s July high point of around US$1,830. 

Marc Lichtenfeld of the Oxford Club is one market watcher who’s struggling to understand why gold isn’t doing better this year. We had the chance to speak this week, and he pointed to money printing, the impact of COVID-19 and inflation as factors that should be pushing gold to record highs.

So far in 2021 those elements have have failed to do the trick, and Marc said he sees a disconnect between the yellow metal’s traditional fundamentals and what’s happening in the market.

 

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“There just seems to be a disconnect between what are the traditional gold fundamentals and what’s happening out in the world … it’s really difficult to try to figure out what is happening with gold and why gold isn’t at record highs” — Marc Lichtenfeld, the Oxford Club

Of course, some would argue that price manipulation is the reason gold isn’t moving, and this week there was more news on that front. Chat logs were released in a spoofing trial for two former precious metals traders from the Bank of America’s (NYSE:BAC) Merrill Lynch unit, and they show one of the traders bragging about how easy it is to manipulate the price of gold. The trial isn’t over yet, but in its opening arguments that trader’s attorney said he stopped spoofing after he found out it was illegal.

Looking over to silver, I heard this week from Collin Plume of Noble Gold Investments, who thinks industrial demand will help push the white metal above the US$40 per ounce mark in the next 12 to 18 months. Silver has struggled to pass US$30 so far this year.

Solar panels are one of silver’s key uses, but it’s also found in other high-tech applications such as electronics and electric vehicles. Collin isn’t aware of any commodities that can replace silver in its end-use markets, and with demand “through the roof,” he expects to see shortages of silver by next year.

With silver in mind, we asked our Twitter followers this week if they think its industrial or precious side is driving the most demand right now. By the time the poll closed, about 70 percent of respondents said they think the precious angle is more important.

 

Uranium Soared Last Year While Other Resources Tumbled

 
What's In Store For Uranium This Year? Find Out In Our Exclusive FREE 2021 Uranium Outlook Report featuring trends, forecasts, expert interviews and more!
 

We’ll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

We’re going to finish up with the cannabis space, where there was a major announcement last week.

A group of Democratic senators headed by Senate Majority Leader Chuck Schumer introduced a draft of the Cannabis Administration and Opportunity Act, which among other things would remove cannabis from the Controlled Substances Act. The long-awaited bill will need 60 votes to get through the Senate, and opinion is split on whether that will actually happen.

INN’s Bryan Mc Govern spoke with Dan Ahrens of AdvisorShares Investments, who thinks it has “no chance of passing,” but remains optimistic about prospects for American cannabis companies.

“No one should expect US (cannabis) legalization anytime soon. We should expect reforms; they’re not coming as fast as anyone would like to see, but everybody agrees we’re going to get some form of banking reform in the near future … we’ll see baby steps” — Dan Ahrens, AdvisorShares Investments

Why? In his opinion, these stocks remain undervalued compared to their Canadian counterparts, and are operating well even without federal cannabis approval. Any legalization progress would be a bonus.

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there’s someone you’d like to see us interview, please send an email to cmcleod@investingnews.com.

And don’t forget to follow us @INN_Resource for real-time updates! 

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

 

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Economics

Top 5 Rubber Stocks to Buy in 2021

Here are some of the best rubber stocks to buy right now. Increased demand and supply chain disruptions are putting pressure rubber prices.
The post Top 5 Rubber Stocks to Buy in 2021 appeared first on Investment U.

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When it comes to investing, all the attention tends to go to healthcare, tech and increasingly renewable energy. But these aren’t the only stocks on the block, and some old mainstays can also add value to your portfolio. One of those old, reliable industries is rubber: it always has some level of demand, and that won’t likely change anytime soon. But recent economic conditions make rubber even more intriguing than usual. One of the biggest uses of rubber is car tires, and sharp economic recovery is likely to mean a sharp demand for new cars. Hence, we may also see a sharp increase in demand for rubber as many people head to the dealer to buy a new car. There’s more to it than just the auto industry, of course. CNBC reported that disruptions in the supply chain are also causing major disruptions. And we use rubber for many different essential items, including personal protective equipment and countless other items. With increased demand and supply chain disruptions, rubber stocks are poised for a rise. Here are some of the best rubber stocks to buy:
  • Goodyear Tire & Rubber (Nasdaq: GT)
  • Trinseo (NYSE: TSE)
  • Michelin (OTC: MGDDY)
  • Carlisle Companies (NYSE: CSL)
  • Protolabs (NYSE: PRLB)
If you’ve never invested in rubber stocks before, you might be wondering if they are a good investment. Let’s consider that question before looking at each stock more closely. And if you want to see how your investment portfolio might grow, check out our free investment calculator.

Is Rubber a Good Investment?

Rubber can certainly be a good investment because it is nearly ubiquitous; it is used in many different products, including tires, footwear, pharmaceuticals, textiles and many other products. As Zacks notes, rubber is among the most profitable industries when it comes to natural resources. But rubber isn’t exactly the most innovative product. Perhaps it was decades ago, but these days, it’s something most of us are just used to seeing. We don’t really demand rubber so much as the products that contain it. Hence, it’s only when demand for those products increases that the demand for rubber spikes. And as mentioned earlier, we are at a point right now where many people are looking to buy new cars, and rubber’s use in tires could cause a surge in demand. However, these things can be very cyclical. The Zacks page linked above highlights this very well. There, you can see the rubber tires industry has a YTD performance of 42.90% compared to 16.09% for IVV, an S&P 500 fund. But as good as that sounds, the 5-year performance for rubber tires is -33.71% compared to 112.67 for IVV. Given the downside risk, rubber is probably best used as part of a balanced portfolio containing more well-round assets, such as funds like IVV.

Rubber Stocks to Buy Now

If you want to “bounce” your returns upward with rubber stocks, here are some of the best rubber stocks to buy right now. Keep an eye on them as the situation with the auto industry progresses.

Goodyear Tire & Rubber

Goodyear Tire & Rubber is a tire manufacturer that makes tires for a variety of uses. Tires for automobiles are one of the biggest uses of Goodyear tires. However, they are also used on buses, trucks, aircraft, motorcycles, mining equipment, industrial equipment and farm equipment. In addition to the Goodyear name, it also has Dunlop and Kelly tires under its belt. Goodyear has been around since 1898 and was the first global tire manufacturer to enter the Chinese market. It produces a range of tires, rubber products and chemicals across the U.S. and Canada.

Trinseo

Trinseo is a global materials company that manufactures latex, plastics and synthetic rubber. Notably, it produces plastic for Lego. When it comes to rubber, Trinseo produces styrene-butadiene rubber (SSBR). This material is primarily used in high-performance tires. In addition to Legos, its plastic is used in automotive applications, LED lighting and medical devices. Trinseo is growing rapidly, with 17 manufacturing and 11 research facilities worldwide. In addition, it is already seeing healthy revenue increases as it continues to grow. Its website notes Trinseo is “dedicated to making a positive impact on society,” and it will support the “sustainability goals of our customers in a wide range of end-markets.”

Michelin

Michelin is another name that is big in the tire manufacturing business, and the demand for new cars places it squarely on this list. In addition to the Michelin tire brand, the company also owns BFGoodrich and Uniroyal. BFGoodrich is a premium tire brand for sports cars, offroad vehicles and light trucks. Michelin is the largest tire manufacturer in the US and the second-largest in the world. It has 34 plans in two countries and had over $8 billion of sales in 2020. Its revenue has been increasing, as has its stock price. As the situation with the auto industry evolves, it will be interesting to see how Michelin fares.

Carlisle Companies

Founded in 1917 and based in Scottsdale, Arizona, Carlisle Companies is about more than just rubber. It is more of an umbrella under which there are a number of different operations. Its products and services include healthcare, commercial roofing, aerospace and electronics, lawn and garden, agriculture, energy, mining and construction equipment, and dining. Of course, there are many uses for rubber and plastic across these industries. In 2018, Carlisle Companies released a plan called Vision 2025 in which it detailed how it will continue to grow over the next 100 years.

Protolabs

Protolabs is an intriguing company. It produces low-volume 3D printed, CNC-machining, sheet metal fabrication and injection-molded custom parts. These parts are then used for short-run production and in prototypes. The company describes itself as the “world’s fastest digital manufacturing service.” It also provides rubber, metal and commercial plastics. Given its business model, it was able to produce several items during the coronavirus pandemic, including face shields, plastic clips and items used in test kits. They were in turn used in Minnesota hospitals, where the company is based.

More Investing Opportunities

The rubber stocks above might produce some big returns for investors. Although, there are many industries and stocks to choose from. So, here are some more investing opportunities and research… If you’re looking for expert analysis delivered straight to your inbox, consider signing up for Profit Trends. It’s a free e-letter that’s packed with investing tips and tricks. Whether you’re new or already an experienced investor, there’s something for everyone. The post Top 5 Rubber Stocks to Buy in 2021 appeared first on Investment U.

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Government

Federal Court Rules CDC’s COVID-19 Eviction Moratorium Is Unlawful

Federal Court Rules CDC’s COVID-19 Eviction Moratorium Is Unlawful

By Jack Phillips of Epoch Times

A federal court on Friday ruled that the U.S. Centers for Disease Control and Prevention (CDC) overstepped its authority by halting evictions.

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Federal Court Rules CDC's COVID-19 Eviction Moratorium Is Unlawful

By Jack Phillips of Epoch Times

A federal court on Friday ruled that the U.S. Centers for Disease Control and Prevention (CDC) overstepped its authority by halting evictions during the COVID-19 pandemic.

The Cincinnati-based U.S. Sixth Circuit Court of Appeals unanimously agreed (pdf) with a lower court ruling that said the CDC engaged in federal overreach with the eviction moratorium, which the agency has consistently extended for months. Several weeks ago, the CDC announced it would allow the policy, which was passed into law by Congress, to expire at the end of July.

Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention (CDC), testifies during a Senate hearing in Washington, on July 20, 2021. (Stefani Reynolds-Pool/Getty Images)

“It is not our job as judges to make legislative rules that favor one side or another,” the judges wrote. “But nor should it be the job of bureaucrats embedded in the executive branch. While landlords and tenants likely disagree on much, there is one thing both deserve: for their problems to be resolved by their elected representatives.”

The ruling upheld one handed down by U.S. District Judge Mark Norris, who in March blocked enforcement of the moratorium throughout western Tennessee.

Under the moratorium, tenants who have lost income during the pandemic can declare under penalty of perjury that they’ve made their best effort to pay rent on time. The CDC claimed the measure was necessary to prevent people from having to enter overcrowded conditions if they were evicted, which would, according to the agency, impact public health.

Previously, the CDC’s lawyers argued in court filings that Congress authorized the eviction freeze as part of its COVID-19 relief legislation, while simultaneously asserting that the moratorium was within its authority. Those arguments were rejected by the three-panel appeals court on Friday.

Demonstrators call for a rent strike during the COVID-19 pandemic as they pass City Hall in Los Angeles, Calif., on May 1, 2020. (Frederic J. Brown/AFP via Getty Images)

“What’s the difference between executive-branch experts and congressional ones? Executive-branch experts make regulations; congressional experts make recommendations,” the appeals court wrote. “Congressional bureaucracy leaves the law-making power with the people’s representatives—right where the Founders put it.”

But last month, the Supreme Court in a 5-4 decision rejected a different plea by landlords to end the ban on evictions.

Justice Brett Kavanaugh had written in an opinion (pdf) that while he believes that the CDC had exceeded its authority by implementing the moratorium, he voted against ending it because the policy is set to expire July 31.

“Those few weeks,” he wrote, “will allow for additional and more orderly distribution” of the funds that Congress has appropriated to provide rental assistance to those in need because of the pandemic.

The CDC moratorium has faced pushback from property owners as well as the National Association of Realtors.

“Landlords have been losing over $13 billion every month under the moratorium, and the total effect of the CDC’s overreach may reach up to $200 billion if it remains in effect for a year,” said the organization in an emergency petition to the Supreme Court.

It’s not clear if the CDC’s attorneys will appeal the ruling. The Epoch Times has requested a comment from the agency.

Tyler Durden Fri, 07/23/2021 - 19:40

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