What do you get when you combine perfect timing with exponentially more exposure?
That’s what we’ll find out over the next few months. But by the time we know for sure, the greatest potential of this opportunity will probably be gone.
Last month, I noted the next breakthrough for the medical fringe. I don’t mean that in a disparaging way. But this breakthrough still has a long fight with politicians before it can really get anywhere.
Psychedelic treatments for series issues like depression and PTSD are coming to the forefront of medical research.
I noted companies like Mind Medicine Inc. (OTC: MMEDF), or MindMed for short, which has a number of clinical trials ongoing involving the use of MDMA-LSD treatments, and Champignon Brands Inc. (OTC: SHRMF), which is trying to become a conglomerate of sorts in this space.
Both companies have done very well in this short period. Champignon is up about 31% since I first mentioned this rapidly growing field. MindMed is up 42%.
But I’m not here to pat myself on the back. This is just the start. And the combination of massive investor exposure and the eyes of the upcoming election is going to push this industry into the light even sooner than expected.
What the First IPO Means for the Second One
Just like cannabis has been so far, the medicinal psychedelics industry is already fragmented. MindMed and Champignon are two of the more promising ones. But they aren’t alone.
Late last week, COMPASS Pathways Plc (NASDAQ: CMPS) IPOed on the Nasdaq, making it the first real publicly-traded stock on a major exchange in this field to date.
Watching how companies trade over the counter like MindMed and Champignon can give you a clue as to the appetite for an industry. But watching one jump to a major exchange like CMPS just did solidifies how much interest there is in the idea.
In just a few short days since its IPO, its $40 price tag more than twice its IPO price of $17. Remember, for the rest of the market, these haven’t been the best days to make money.
While this one still has legs to move, this early boost might need to cool down for a while. But there are other developments that could mean real opportunity in the near term.
MindMed, following COMPASS’ successful jump to the Nasdaq, has announced that it too would like a piece of that pie. It submitted its application to join CMPS on the Nasdaq as early as end of year.
This is huge. We’ve already seen what that jump can do for a very similar company. But with MindMed, there’s, even more, to consider… and entice the risk-tolerant investor.
Perfect Location and Timing
COMPASS is based out of London. Meaning, its work involves different politicians and ideals. It also means that a company closer to the largest potential market for these breakthroughs could do even better.
MindMed, based out of the One World Trade Center in New York is just across the Queens bridge from the FDA’s Office of Regulatory Affairs. And as noted last month, it is already actively pushing through its own clinical trials.
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Of course, there’s a lot more to consider here. Even if MindMed successfully jumps onto the Nasdaq, the U.S.’s current federal policy regarding psychedelic drugs would surely be a hindrance for investors.
Well, that too might be changing faster than even I suspected just 26 days ago.
Ann Arbor, Michigan joined Denver and Oakland in decriminalizing magic mushrooms and psychedelics. But that’s not even the big one.
As suspected, pro-psychedelic advocates were successful in getting Measure 109 on the ballot this November. And once you really look into it, this could be a gamechanger.
Rather than just decriminalize these substances, it goes above and beyond what the cities have been able to do. Measure 109 would actually establish a whole system in Oregon for psilocybin therapy, complete with regulations.
This is what marijuana needed when Colorado made that plunge in the 2012 election. Now, pot is a huge, multibillion-dollar growth industry.
Converging these two pieces of news – an impending IPO at just the right time as well as a state vote on establishing a system for this product – makes MindMed even more appealing one month later.
Of course, as we’ve already seen with COMPASS, there’s not much time to get into an idea like this after it jumps to a major exchange.
I’ll continue watching this space. But MindMed is only looking more like a winner every day.
To your prosperity and health,
Joshua M. Belanger
Executive Publisher & Founder