Yahoo Finance’s 10 Best Psychedelic Companies to Watch

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In this article, we discuss the 10 best psychedelic companies to watch. If you want to skip our detailed analysis of these companies, go directly to the 5 Best Psychedelic Companies to Watch. Novel therapies and psychedelic treatments are rapidly gaining popularity across large swathes of North America as the awareness of mental health disorders and the revolutionary effects of psychedelics in their treatment become more mainstream. According to a study by Data Bridge Market Research, the global market for psychedelics is growing and will reach a value of over $6 billion within the next five years, compared to $2 billion in 2019. This represents a compound annual growth rate of over 16% for the industry. A lot of companies are vying for space in the psychedelics market with several going public in the past few months. Some already-established early leaders of this boom are COMPASS Pathways plc (NASDAQ: CMPS), Field Trip Health Ltd. (OTC: FTRPF), and Cybin Inc. (OTC: CLXPF), among others. COMPASS Pathways plc (NASDAQ: CMPS) recently raised $144 million through an equity offering. It is one of the most recognizable brand names in the psychedelic industry already. Similarly, Field Trip Health Ltd. (OTC: FTRPF), the Toronto-based psychedelics firm, is already establishing itself as an innovator in the field by working on the development of cutting edge technology that will support psychedelic experiences. Field Trip Health Ltd. (OTC: FTRPF) listed on the Toronto Stock Exchange just three weeks back and has already applied for a listing on the stock market in the United States. The firm is one of the leading authorities on plant-based psychedelics in the industry. Another company to watch for in the psychedelic space over the next few months is Cybin Inc. (OTC: CLXPF), another Toronto-based firm engaged in the development of psychedelic therapies. Cybin Inc. (OTC: CLXPF) recently announced…

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Source : Yahoo Finance’s 10 Best Psychedelic Companies to Watch

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