FN Media Group Presents Microsmallcap.com Market Commentary
New York, NY – October 20, 2020 – Research continues to mount on the health benefits of psychedelic drugs like psilocybin and loosening government restrictions are completely changing the way the world views psychedelics. What was once reserved for teenagers tripping out in their parents’ basement is now being viewed for its potential health and wellness benefits, particularly in regards to mental health. Up until recently, anti-anxiety and antidepressants from Big Pharma companies like Pfizer (NYSE:PFE) and Eli Lilly (NYSE:LLY) were the primary treatments used for anxiety, panic disorder, and depression. However, a recent FDA warning about the risks associated with most of these drugs, which includes addiction, abuse, dependence, and withdrawal, has led consumers to look for more natural options to treat their mental illness. Luckily, companies like COMPASS Pathways (NASDAQ:CMPS) and Mydecine Innovations Group (CSE:MYCO) are stepping in to develop novel therapies that could completely change the way doctors treat mental health.
Taking Mental Health Treatments to New Heights
Mental illness has always been prominent in the US, but the numbers have only gotten higher due to the ongoing health crisis. At present, roughly one in five American adults suffer from mental illness, yet effective medications and treatments like counseling and therapy are still very much out of reach for many. What’s more, many of the prescription medications available to treat mental illness come with a laundry list of side effects. Luckily, companies like Mydecine Innovations Group (CSE:MYCO) (MYCOF) are stepping in to offer unique and effective solutions.
Over the past decade, research published by leading academic institutions like Johns Hopkins University, Imperial College of London, and Yale University has demonstrated that psychedelic medicines like MDMA, psilocybin, and ketamine can be used as effective and safe treatments to treat a variety of mental health conditions. Mydecine Innovations, which is a life sciences parent company, is focused on developing and producing psychedelic medicine naturally derived from fungi, therapeutic solutions, and fungtional™ natural health products.
In September, Mydecine Innovations completed the acquisition of NeuroPharm, a developer of natural health, psychedelic-based treatments for mental disorders that is currently conducting first-of-its-kind clinical trials to study psychedelics for the treatment of post traumatic stress disorder (PTSD) in veterans.
Mydecine Innovations then launched its health app Mindleap to provide an additional step in the fight against mental illness. Mindleap, which is the first psychedelics-focused digital telehealth platform, helps people to track their mental health and connect with trained mental health specialists for psychedelic aftercare. The platform not only increases access to mental health services, but it also provides analytics to improve outcomes starting with goal-setting, emotion, mood, and habit tracking.
The launch of Mydecine’s Mindleap app couldn’t have come at a better time. The telehealth market is projected to reach $559 billion by 2027 at a 25.2% compound annual growth rate (CAGR) and the global pandemic has only increased high demand for telehealth services, with telehealth visits expected to exceed 1 billion by the end of 2020.
COMPASS Pathways (NASDAQ:CMPS) is another company looking to use psychedelics to treat mental illness. Coming off it’s hot IPO, the newly listed company’s proprietary formulation of synthetic psilocybin, COMP360, has been designated a Breakthrough Therapy by the FDA for treatment-resistant depression (TRD) and is currently undergoing a Phase 2B clinical trial of psilocybin therapy in 216 patients with TRD in 20 sites across Europe and North America.
FDA Warning Creates Urgent Need for Effective, Non-Addictive Treatments for Mental Illness
When the FDA issued a warning last month requiring makers of benzodiazepines to outline the risks of addiction, abuse, dependence, and withdrawal on the drugs’ labels, it sparked concerns over the abuse of prescription meds.
Benzodiazepines are used for the treatment of anxiety, insomnia, seizures, social phobia, and panic disorder and include brand name drugs like Pfizer’s (NYSE:PFE) Xanax and Ativan and Roche’s Valium and Librium.
Of course, this isn’t the first time the FDA has urged drugmakers to include “black box” warnings on mental health treatments. In 2004, the administration recommended that all antidepressants, including Eli Lilly’s (NYSE:LLY) Prozac, carry “black box” warnings, which are among the most stringent cautions issued and are reserves for drugs that have very serious or fatal side effects.
Although these prescription drugs have been used for decades, there is growing evidence around the high potential for abuse and addiction. What’s more, the FDA found that benzodiazepines are commonly prescribed for periods longer than recommended and are frequently abused with alcohol, opioids, or other illicit drugs, which increases the risk of serious or fatal health problems.
In 2019 alone, over 92 million prescriptions were written for benzodiazepines, with the most commonly used drugs being Pfizer’s Xanax (38%), followed by Klonopin (24%) and Ativan (20%).
But perhaps more concerning is the Illicit use of benzos. In a report released last year by the US Centers for Disease Control and Prevention, the drugs were found to be involved in a full third of all fatal opioid overdoses.
With the growing number of mental health cases, along with the increase in fatal opioid overdoses in recent years, it’s become glaringly clear that disruptive treatments like the ones being created by Mydecine Innovations Group are essential in the fight against both mental health and addiction.
For more information on Mydecine Innovations Group, please visit this link.
Disclaimer: Microsmallcap.com (MSC) is the source of the Article and content set forth above. MSC owns and operates Streetsignals.com. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mydecine Innovations Group Inc.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.
FN Media Group, LLC