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TDR’s Top 5 Psychedelic Developments For The Week Of September 6

Welcome to TDR’s review of the Top 5 Psychedelic developments for the week of September 6. 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 Ltd….

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Welcome to TDR’s review of the Top 5 Psychedelic developments for the week of September 6. 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 Ltd. to Pursue Treatment Resistant Depression and Postpartum Depression as Indications for FT-104

Field Trip Health Ltd. (CNSX: FTRP; OTCMKTS: FTRPF) announced today the lead indications for FT-104, its novel psychedelic compound in development, will be Treatment Resistant Depression (TRD) and Postpartum Depression (PPD). Field Trip also announced that Anita H. Clayton, MD, Chair of Psychiatry and Neurobehavioral Sciences at the School of Medicine at the University of Virginia, has joined its Scientific Advisory board.

Through Field Trip Discovery, its drug development division, Field Trip is developing next-generation psychedelic molecules. Its first molecule in development, FT-104, a prodrug, is a synthetic serotonin-2A (5HT2A) agonist whose active component has serotonin-2A potency similar to psilocybin.

Preclinical activities that will enable commencement of Phase I clinical trials in calendar Q1 2022 are ongoing and expected to continue through to the end of calendar 2021. After completion of the Phase 1 and opening of a US-IND, Field Trip intends to initiate Phase IIA studies in TRD, following which Phase II studies in TRD and PPD are expected to be conducted substantially in parallel.

4. Mydecine Innovations Group Announces MYCO-001 Seamless Phase 2/3 Smoking Cessation Clinical Trial

Mydecine Innovations Group (NEO: MYCO)(OTCMKTS: MYCOF) has partnered with Principal Investigator Dr. Matthew Johnson of Johns Hopkins University on a study evaluating the administration of MYCO-001 with a structured smoking cessation treatment program in nicotine dependent individuals.

The planned placebo-controlled study, based with the Johns Hopkins psychedelic research group, will study the science and efficacy of MYCO-001 to treat nicotine dependence. Dr. Matthew Johnson, a globally recognized leader in this field who has published extensively on the science of psychedelics, has been contracted by Mydecine to complete this Phase 2/3 clinical trial of his ongoing research and develop methodologies to better advance future-controlled studies and clinical trials of psychedelics.

The proposed study is projected to launch in Q1 2022 and will be looking at primary endpoints of three and six months. This study could be completed as early as Q4 2022.

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Legal Status Of Psychedelic Drugs In Various Jurisdictions Throughout The World

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Numinus CEO Payton Nyquvest Answers Reader-Submitted Questions On Topics Pertaining To Potential U.S. Uplisting, IB Coverage, MAPS Study Timelines And More

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3. Psych Stocks Retreat In-Line With Sagging Broad Market, Biotech Peers

The biggest psychedelic stocks were mixed, nonetheless the Horizon Psychedelic Stock Index ETF (PSYK) finished lower by 2.04% as post-Labor Day weekend volumes remained light. The performance in PSYK fell in lockstep with its junior and blue chip biotech peers, with the Nasdaq Junior Biotechnology Index declining (1.83%) and Nasdaq Biotechnology Ishares ETF (1.46%) retreating from all-time closing highs the week previous. The broad indexes also struggled, with the Dow Jones Industrial Average retreating all four days (2.15%) and five days overall heading back to last Friday. It was the first 5-day losing streak for the DJIA since mid-June. The NASDAQ slid ↓1.30%.

Not much in the takeaway column this week in the sector. Investors hoping to see more robust volumes after a quiet summer did not get their wish, as volumes were mixed across the board. And what pickup in volumes that did occur were generally non-descript. But it’s important to note that while Labor Day weekend is the “unofficial” end of summer for some, it doesn’t magically ensure that investors/traders are back and ready to deploy capital right away. Easing back after Labor Day is always more of a process than an event, and mild but persistent weakness in biotech and broad market indexes kept price action at bay.

The one significant takeaway was something TDR noted last week. That is, COMPASS Pathways appeared to shifting away from prolonged bearish price action into a buy-the-dips dynamic as key Phase 2b endpoint results approach in Q4. That again played out this week, with COMPASS notching its 4th consecutive positive weekly close—the first time that’s ever happened. CMPS even saw two separate gap-up opens, which have been a rare occurrence in recent times. Although its modest strength did not rub off on the rest, it’s nonetheless a positive signal that capital is being deployed in some leadership names up top.

From a technical perspective, overall industry price action (as viewed through PSYK ETF) remains uninspiring. So we remain defensive on most issues short term, as we await for signs of galvanizing movement in the ETF. Until then—as has been the case for most of spring/summer—we remain in a stock picker’s market.

CompanyTickerPrice ($)Weekly Change (%)WoW Volume TrendMarket Cap (s/o)
ATAI LIfe SciencesATAI16.46-4.07US$2.54B
COMPASS PathwaysCMPS34.413.51US$1.43B
GH ResearchGHRS23.205.40US$1.17B
Mind MedicineMNMD2.52-11.57US$1.14B
Cybin Inc.CYBN2.42-8.33US$386.4M
Field Trip HealthFTRP5.07-2.68US$292.5M
Numinus WellnessNUMI0.82-3.52C$166.4M
Revive TherapeuticsRVVTF0.40323.24US$127.7M
Small PharmaDMT0.402.56C$127.1M
Mydecine InnovationsMYCOF0.318-14.28US$76.4M

In the news…

Algernon Pharmaceuticals has confirmed in its own preclinical study, that N,N-Dimethyltryptamine (DMT) based AP-188 increased the growth of cortical neurons by 40% with statistical significance in one arm of the study, when compared to control. Algernon also reports that the increased growth was achieved with a sub hallucinogenic dose.

atai Life Sciences announced a usability study of Introspect’s digital therapeutic app technology in support of standard of care ketamine therapy for patients with treatment resistant depression in collaboration with Kadima Neuropsychiatry.

CaaMTech, Inc., a leading psychedelic drug discovery company, announced the completion of a $22 million Series A financing round, led by Noetic Fund. The oversubscribed round of funding will be deployed to support CaaMTech’s cross-disciplinary science program, expand the company’s leadership team, and advance drug development candidates into human trials.

COMPASS Pathways plc (NASDAQ: CMPS) has engaged Hamilton Morris, the research scientist and film-maker, as a full-time consultant, who will be working primarily at the COMPASS Discovery Center, based at University of the Sciences in Philadelphia in the United States.

Filament Health has received notification from the Financial Regulatory Authority that its shares are qualified to commence trading on the OTC Pink Market in the United States under the symbol “FLHLF”. The company has also submitted an application for uplisting shares to the OTCQB Venture Market.

Levitee Labs has commenced trading in the United States on the OTC Pink marketplace under the ticker symbol “LVTTF”. Levitee continues to trade on the Canadian Securities Exchange under the ticker symbol “LVT”.

Mind Cure Health Inc. announced its presence at the 2021 SANA Symposium as a Platinum Sponsor and host of the Innovation Theater. MINDCURE will be engaging with clinicians around the world who have an interest in learning more about psychedelic-assisted psychotherapy, and specifically in adopting novel protocols and practice standards around psychedelics.

MYND Life Sciences announced the closing of its non-brokered private placement offering under which it sold $3,000,000 aggregate principal amount of convertible debenture units for gross proceeds of $2,700,000. Proceeds of the Offering to advance its novel drug discovery platform, commercialize its diagnostic business unit and for general working capital.

Nova Mentis Life Science announced that it is expanding its psilocybin research and development program to target obesity and diabetes.

Wesana Health Holdings announced the closing on September 8, 2021 of its acquisition of Psychedelitech Inc., also known as PsyTec. The acquisition of PsyTech as a wholly owned subsidiary of Wesana will add three major components that will expand and enhance Wesana’s current business.

2. AdvisorShares Psychedelics ETF Ready To List Next Week

The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in:

• securities of companies that derive at least 50% of their net revenue from or devote 50% of their assets to psychedelic drugs and

• derivatives that have economic characteristics similar to such securities. 

The Fund primarily invests in publicly listed life sciences companies focused on psychedelic medicines as well as other companies with activities in the psychedelics business. The Fund invests in exchange-listed equity securities, including common and preferred stock of U.S. and foreign mid, small and micro-capitalization companies, and in total return swaps intended to provide exposure to such companies.

TDR: Although there are a few psychedelic-focuses ETF currently listed on major exchanges—most notably the Horizons Psychedelic Stock Index ETF and Defiance Next Gen Altered Experience ETF—the new AdvisorShares Psychedelics ETF (NYSE Arca) has a chance of becoming the de facto industry standard, depending on structure. AdvisorShares Pure US Cannabis ETF (MSOS) quickly became the gold standard among cannabis ETFs upon listing in September 2020, by prioritizing holdings of the leading Tier-1/2 multi-state U.S. operators, and de-emphasizing peripheral cannabis companies. This strategy struck a chord with investors, as pure-play multi-state operators became the preferred cannabis investments among investors. It will be interesting to see whether they emphasize the same top-down approach here, as well as overcome liquidity issues facing its competitors.

Of note: At least 25% of its investments in the Pharmaceuticals, Biotechnology & Life Sciences industry group within the health care sector.

1. In Observance Of World Suicide Prevention Day, September 10, 2021

Increase in suicide following an initial decline during the COVID-19 pandemic in Japan, January 2021. Blue line denotes suicides decreased during the first outbreak (February-June 2020; Red line denotes suicides increased substantially during the second outbreak (July-October 2020)
Source: Statista

The post TDR’s Top 5 Psychedelic Developments For The Week Of September 6 appeared first on The Dales Report.

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DAX index forecast ahead of the ECB meeting

European stocks rose on Friday on a surge in technology stocks; still, rising inflation became a concern for investors. European inflation was confirmed at 3.4% YoY in September, and concerns grew that the European Central Bank could change its monetary..

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European stocks rose on Friday on a surge in technology stocks; still, rising inflation became a concern for investors. European inflation was confirmed at 3.4% YoY in September, and concerns grew that the European Central Bank could change its monetary policy.

European Central Bank President Christine Lagarde said that ECB would maintain its accommodative policy for as long as necessary, but this could change soon. Germany’s DAX index has advanced again above 15,500 points, but it is still trading below its recent highs.

Germany’s recovery from the pandemic has been strong so far, and the country will release the preliminary estimates of its October Inflation data and its Q3 GDP next week.

Results from many big companies provided a strong start to third-quarter earnings, and investors’ focus will remain on the third-quarter earnings season because many companies have yet to publish their reports.

Next week, Deutsche Bank, Volkswagen,  Linde, MTU Aero Engines, and Daimler are among the companies scheduled to report quarterly results.

According to the German Economic Ministry, the outlook for the industry remains positive, but the world’s supply chains crisis represents a serious problem for Germany because of its dependence on exports.

The German economy is particularly vulnerable to shortages of key parts and raw materials, and more than 40% of companies reported they had lost sales because of supply problems.

Many big companies scaled back production of some of their most profitable models, while Opel announced last month that it would shut down a factory in Eisenach until the beginning of 2022.

It is important to say that nearly half of Germany’s economic output depends on exports of cars, machine tools, and other goods, while the semiconductor shortage throttling global car production suggests more pain for the automotive industry.

Despite this, the German Economic Ministry reported that it expected this effect to be temporary while the German central bank expects that the German economy could grow 3.7% this year. The German Economic Ministry added:

Healthy order books give us reason to expect strong recovery impulses from industry, and thanks to that strong overall economic growth

The European Central Bank recently reported that exports from Eurozone would have been at least 7% higher in the first half of the year if not for supply bottlenecks. The European Central Bank will announce its decision on monetary policy next Thursday, which could significantly influence on DAX index in the near term.

15,000 points represent support

Data source: tradingview.com

DAX index has advanced again above 15,500 points, and if the price jumps above 15,800 points, the next target could be at 16,000 points.

On the other side, if the price falls below strong support that stands at 15,000 points, it would be a strong “sell” signal, and the next target could be around 14,500 points.

Summary

The European Central Bank will announce its decision on monetary policy next Thursday, which could significantly influence on DAX index in the near term. DAX index has advanced again above 15,500 points, and if the price jumps above 15,800 points, the next target could be at 16,000 points.

The post DAX index forecast ahead of the ECB meeting appeared first on Invezz.

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Poland Will Not Be “Blackmailed” Into Accepting European Union Laws, PM Morawiecki Says

Poland Will Not Be "Blackmailed" Into Accepting European Union Laws, PM Morawiecki Says

Authored by Naveen Athrappully via The Epoch Times,

Polish Prime Minister Mateusz Morawiecki said on Thursday that his country will not bow to the Europe

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Poland Will Not Be "Blackmailed" Into Accepting European Union Laws, PM Morawiecki Says

Authored by Naveen Athrappully via The Epoch Times,

Polish Prime Minister Mateusz Morawiecki said on Thursday that his country will not bow to the European Union’s “blackmail” on deciding legal frameworks of member states, but is open to constructive dialogue.

Arriving at a summit of the 27-member bloc, Morawiecki said that Poland “was as faithful to the rule of law as others and as the EU institutions are.” He added,

“Some EU institutions assume the right to decide on issues to which they have not been entitled to decide. They assume competencies which have not been handed over to them in the treaties.”

Morawiecki said that EU laws maintain supremacy over national laws on matters transferred to the EU. “We don’t agree to the constantly broadening range of competencies but we will, of course, talk about it.”

On Oct. 7, Poland’s Constitutional Tribunal ruled that some elements of EU law were incompatible with the country’s constitution. This ruling, criticized by Brussels, essentially gave national law primacy over that of the EU.

“It has to be clear: You are a member of a club, you have to abide by the rules of the club. And the most important rule of the club is that the European law is over national law,” the EU’s top diplomat, Josep Borrell, told Reuters.

Since the nationalist Law and Justice (PiS) party took over power in 2015, the ideological conflicts have incrementally increased.

European Parliament President David Sassoli said the Polish tribunal’s ruling challenged “the legal bedrock of our Union,” and that, “never before has the Union been called into question so radically.”

European Commission President Ursula von der Leyen laid out three options as a response.

The first option, “infringement,” is where the commission legally challenges the verdict of the Polish court.

The second option, which is active currently, involves the withholding of funds. Warsaw will not be able to access the 36 billion euros ($42 billion) of COVID-19 pandemic recovery grants. This could lead to a further blockage of around 70 billion euros ($81 billion) set aside for development projects in the 2021-2027 budget.

The third option would be the implementation of Article 7 of the EU treaty which suspends member states of certain rights, including the right to vote on EU decisions.

Morawiecki, however, maintained his country’s stance under repeated criticism in the tense debate on Tuesday. This led to the idea of Poland exiting the bloc which the prime minister dismissed. He said that there were no plans for a “Polexit” as there is considerable support among the Polish for remaining within the EU.

A majority of European countries, including Ireland, France, Sweden, Finland, Luxembourg, and the Netherlands were critical of Poland, barring staunch ally Hungary. Hungarian Prime Minister Viktor Orban has not been a supporter of excessive European Union interference in the laws and decisions of member states.

“Poland is one of the best European countries. There is no need for any sanctions, it’s ridiculous,” Orban said.

Dutch Foreign Minister Ben Knapen implied the issue will soon need to be addressed.

“The time for talking is never over, but it doesn’t mean that you cannot take action in the meantime,”  Knapen said. “It’s going to come soon.”

Outgoing German Chancellor Angela Merkel called for finding “ways of coming back together,” and warned against isolating Poland, the largest ex-communist EU country of 38 million people.

Tyler Durden Sat, 10/23/2021 - 09:20

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Should I invest in Coca-Cola shares after a positive view from Morgan Stanley?

The Coca-Cola Company (NYSE: KO) shares have weakened from their recent highs above $57, registered in August 2021, and the current price stands at $54.45. Coca-Cola declared a $0.42 per share quarterly dividend last week, and Morgan Stanley continues…

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The Coca-Cola Company (NYSE: KO) shares have weakened from their recent highs above $57, registered in August 2021, and the current price stands at $54.45. Coca-Cola declared a $0.42 per share quarterly dividend last week, and Morgan Stanley continues to have a positive view on KO shares.

Morgan Stanley has a positive view

Coca-Cola continues to improve its position in the market, and the board of directors declared a $0.42/quarterly share dividend last week, which will be payable on December 15.

Coca-Cola reported better than expected second-quarter results in July; total revenue has increased by 42% Y/Y to $10.1 billion, which was more than expected, while the GAAP EPS was $0.61 (beats by $0.05).

Through the second quarter, volume trends steadily improved each month, driven by the recovery in markets from the pandemic, and the company’s management expects another EPS beat in Q3.

Coca-Cola expects to deliver organic revenue growth for the 2021 fiscal year of 12% to 14% and comparable EPS growth of 13% to 15% compared with the previous year.

According to the latest news, Molson Coors has signed an exclusive agreement with Coca-Cola to manufacture, market, and distribute Topo Chico Hard Seltzer in Canada. The product is scheduled to launch in the summer of 2022, less than two years after the successful launch in the United States.

Topo Chico Hard Seltzer has garnered a 2.4% share of the U.S. market, and this deal will certainly help Coca-Cola to expand its revenue base further.

Last month, Coca-Cola introduced a new global brand platform called Real Magic with a new campaign, “One Coke Away From Each Other.” This is the first new global platform since 2016, and the company’s stability in a variety of market conditions has revealed its true staying power.

Morgan Stanley has a positive view on KO shares with a price target of $65, representing 20% upside potential. Dara Mohsenian, an analyst from Morgan Stanley, added:

The outlook for Coca-Cola remains positive; we see some headwinds from the recent increase in global COVID cases and slightly lower our FY21 topline forecasts, but remain above consensus in 22/23. We expect a return to outsized sales growth vs. peers post COVID, with improved execution and higher margins.

Technically looking, Coca-Cola shares could advance above the current price levels, but this company is not undervalued with a market capitalization of $234 billion. The book value per share is around $5, and Coca-Cola trades at more than seventeen times TTM EBITDA.

$60 represents strong resistance

Data source: tradingview.com

Coca-Cola shares have weakened from their recent highs above $57, and if the price falls below $50 support, the next target could be at $45. On the other side, if the price jumps above the strong resistance that stands at $60, the next target could be at $65 or even above.

Summary

Coca-Cola shares have weakened from their recent highs above $57, but Morgan Stanley continues to have a positive view on KO shares with a price target of $65. Coca-Cola continues to improve its position in the market, but this company is not undervalued with a market capitalization of $234 billion.

The post Should I invest in Coca-Cola shares after a positive view from Morgan Stanley? appeared first on Invezz.

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