Author Topic: Why Psychedelic Medicine Startups Are Poised To Get A Share Of Next Billion Dollar Market  (Read 104 times)

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Online Elderberry

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PR Newswire 9/15/2020

PALM BEACH, Fla., Sept. 15, 2020 /PRNewswire/ -- Investors are seeing big opportunity in psychedelics based upon the numbers that the nascent cannabis industry has been putting up… after all, last year, worldwide sales of legal cannabis re-accelerated in 2019, growing nearly 46% to almost $15 billion. By 2024, that number is expected to triple. Not too  bad for an industry that, less than a decade ago, was entirely illegal almost everywhere on the planet and is still outlawed in the vast majority of countries. Several countries and many states are making big shifts in drug policy and research regarding psilocybin and many investors are excited about the upcoming wave of decriminalization akin to that of what we are seeing in Cannabis. The enormous potential of medicines like ketamine, psilocybin and MDMA to treat mental health has some whispering that psychedelics are the next billion dollar industry. They probably aren't wrong: in 2019, Americans spent $225 billion on mental health services, according to the German statistics database Statista. Treating anxiety or depression can equal bank for some. Mentioned in today's commentary include: Sorrento Therapeutics, Inc. (NASDAQ: SRNE), Global Trac Solutions, Inc. (OTCPK: PSYC), Champignon Brands Inc. (OTCQB: SHRMF) (CSE: SHRM), Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) (NEO: MMED), Revive Therapeutics Ltd. (CSE: RVV) (OTCPK: RVVTF).

Many investors are wondering what the next immense profit opportunity is going to come from triggering a round of new startups dedicated to psychedelic medicine, going public as there has been so much money made in Cannabis stocks. There are grassroots efforts to overturn psychedelic prohibition. In less than a year, three U.S. cities have decriminalized plant and/or fungi-based psychedelics, while California could decriminalize access to psilocybin at the ballot this November. The U.S. Food and Drug Administration sees extreme promise in psilocybin therapy, granting the drug "breakthrough" therapy status not once, but twice last fall. An article from Stockhouse added: "The State of Denver voted in May to decriminalize the fungus that contains psilocybin, a psychedelic compound. Oakland, Calif., followed Denver several weeks later and Oregon is trying to get a similar measure on the ballot for 2020. Industry experts see mushrooms having untapped medical potential that could be as big as Cannabis especially considering the clinical studies showing the mushrooms effects on people struggling with depression and post-traumatic stress disorder.

Global Trac Solutions, Inc. (OTC Pink: PSYC) Breaking News:  PSYC's September Newsletter Reflects Most Riveting Edition to Date and Highlights Industry Growth - Global Trac Solutions is pleased to announce that as a result of the Company's success with expanding its network within the emerging industry of medicinal psychedelics, it has effectively constructed what the Company believes to be its most compelling and dynamic newsletter to date, and further demonstrating PSYC's continued emergence as a digital media leader within this fascinating sector.

More: https://www.prnewswire.com/news-releases/why-psychedelic-medicine-startups-are-poised-to-get-a-share-of-next-billion-dollar-market-301130787.html

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Offline mrpotatohead

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If Biden becomes president we'll all need to take a weekend trip to Colorado to pick up meds.
Romans 5:8 "But God demonstrates his own love for us in this: While we were still sinners, Christ died for us."

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If Biden becomes president we'll all need to take a weekend trip to Colorado to pick up meds.

To give to Biden, right?  Well, he’s so busy with the campaign and all. We can’t expect Biden to drop everything and fly to Colorado himself...happy77


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