Psychedelics are going mainstream.
For one, the Director of the National Institutes of Health (NIH), Francis Collins recently touted the benefits of psilocybin and MDMA, as noted by Marijuana Moment.
“There has been a resurgence of interest in psychedelic drugs, which for a while were sort of considered not an area that researchers legitimately ought to go after,” Collins said. “And I think as we’ve learned more about how the brain works, we’ve begun to realize that these are potential tools for research purposes and might be clinically beneficial.”
Also, major studies have shown the benefits of psychedelics in the treatment of anxiety, PTSD, opioid addictions, obsessive-compulsive disorder (OCD), and alcoholism. For example, a study from JAMA Psychiatry found that psilocybin “worked better than the usual antidepressant medications,” as noted by NPR, for example.
The US FDA has thrown its support behind research. Plus, multiple cities, such as Denver, Oakland, and Santa Cruz have recently legalized the use of psilocybin.
Now, we’re learning that potential psychedelics legislation is moving forward in Texas, California, and in New York.
For example, the Texas legislature approved a bill to expand psychedelics research. In fact, as noted by Benzinga, “HB 1802 directs the Department of State Health Services and Texas Medical Board to conduct a study that evaluates the therapeutic efficacy of psilocybin, MDMA and ketamine in the treatment of mental health disorders and other medical conditions in partnership with Baylor College of Medicine.”
Moving forward, some of the top psychedelics stocks to keep an eye on include Compass Pathways (CMPS), Cybin Inc. (CYBN)(CLXPF), and Mind Medicine Inc. (MMED)(MMEDF).