{"id":113672,"date":"2020-10-01T10:03:41","date_gmt":"2020-10-01T17:03:41","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2020\/10\/psychedelic-gold-rush-compass-pathways-goes-public-at-more-than-1b"},"modified":"2020-10-01T10:03:41","modified_gmt":"2020-10-01T17:03:41","slug":"psychedelic-gold-rush-compass-pathways-goes-public-at-more-than-1b","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2020\/10\/psychedelic-gold-rush-compass-pathways-goes-public-at-more-than-1b","title":{"rendered":"Psychedelic Gold Rush? Compass Pathways Goes Public at More than $1B"},"content":{"rendered":"<p><\/p>\n<p><iframe style=\"display: block; margin: 0 auto; width: 100%; aspect-ratio: 4\/3; object-fit: contain;\" src=\"https:\/\/www.youtube.com\/embed\/Xo54wFnpcAI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope;\n   picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Psilocybin startup Compass Pathways goes public at more than $1B. Here\u2019s why Wall Street is starting to see the value in psychedelics.<\/p>\n<hr>\n<p>For several years, investors and psychonauts have predicted that psychedelic medicine would become the <a href=\"https:\/\/doubleblindmag.com\/psychedelic-pharmaceutical-companies-stock-exchange-mindmed\/\">next billion-dollar industry<\/a>, with some value estimates as high as <a href=\"https:\/\/www.benzinga.com\/pressreleases\/20\/06\/b16242081\/psychedelics-quickly-creating-a-potential-100-billion-market-opportunity\">$100 billion<\/a>. They said substances like MDMA or psilocybin mushrooms would follow a similar regulatory path that cannabis took to the mainstream, going from a Schedule 1 narcotic to a legal, regulated, and highly lucrative medicine.<\/p>\n<p>At least some of these predictions have rung true. On September 18th, Compass Pathways Plc., a London-based company developing psilocybin into a prescription drug in assisted psychotherapy, went public, listing on Nasdaq. The company\u2019s stock jumped <a href=\"https:\/\/www.forbes.com\/sites\/willyakowicz\/2020\/09\/25\/psychedelic-drug-company-mindmed-applies-for-nasdaq-up-listing\/#163d4eee6cf7\">71 percent<\/a> on its first day of trading and is now estimated to be worth <a href=\"https:\/\/pitchbook.com\/profiles\/company\/233729-38#stock\">$1.3 billion<\/a>. Compass Pathways declined to comment for this article. Numinus Wellness Inc and Champignon Brands Inc are two other psychedelic companies that have <a href=\"https:\/\/www.benzinga.com\/markets\/cannabis\/20\/05\/16100514\/a-big-week-for-psychedelics-co-numinus-wellness\">gone public this year<\/a>.<\/p>\n<p>This month, another psychedelic research company, Mind Medicine Inc. (\u201cMindmed\u201d), announced their<a href=\"https:\/\/investingnews.com\/daily\/life-science-investing\/psychedelics-investing\/mindmed-pursues-nasdaq-following-compass-listing\/\"> intent to appear on Nasdaq<\/a>, as well, and some analysts predict it will soon be the <a href=\"https:\/\/psychedelicstockwatch.com\/psychedelic-stock-news\/will-mindmed-be-the-next-billion-dollar-psychedelic-stock\">next billion-dollar psychedelic company<\/a>. Havn Life Sciences, which has earned permission from the Canadian government to <a href=\"https:\/\/www.greenmarketreport.com\/psychedelic-company-havn-life-begins-trading\/\">work with psilocybin<\/a>, also squeezed onto the <a href=\"https:\/\/finance.yahoo.com\/news\/psychedelics-company-havn-life-announces-120000842.html\">Canadian Stock Exchange<\/a> in September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Psilocybin startup Compass Pathways goes public at more than $1B. Here\u2019s why Wall Street is starting to see the value in psychedelics. For several years, investors and psychonauts have predicted that psychedelic medicine would become the next billion-dollar industry, with some value estimates as high as $100 billion. They said substances like MDMA or psilocybin [\u2026]<\/p>\n","protected":false},"author":513,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,1490,1496],"tags":[],"class_list":["post-113672","post","type-post","status-publish","format-standard","hentry","category-biotech-medical","category-government","category-law"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/113672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/513"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=113672"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/113672\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=113672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=113672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=113672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}