One of PSYK's holdings, young industry with a growing addressable market.
Big pharma has not only failed to help humans who suffer depression, PTSD, drug abuse, etc. but in some ways made the situation worse.
Psychedelics are widely misunderstood and I believe they can offer solutions under proper conditions and in a therapeutic manner.
Barriers to entry is approval to perform R&D from the U.S. Drug Enforcement Agency and states to legalize it.
Currently Legal in Oregon, California was put on hold until Jan 2022, working group to study medical use in Texas and 13 states in active legislation. The momentum seems positive and I do no see Biden going against the grain as big pharma has clearly failed and would take anything right now.
Some bullish news fresh today could cause the breakout in the positive direction for shareholders.
TORONTO — Cybin Inc., a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics TM ”, today announced that the Company has been granted a Schedule I manufacturing license from the U.S. Drug Enforcement Agency (“DEA”). The DEA license is a federal requirement for any investigators who intend to study, produce, analyze or otherwise work with Schedule I controlled substances.
financialpost.com/pm...anufacturing-license
Heat map of Psychedelics Legalization
psilocybinalpha.com/...ata/psychedelic-laws
Big pharma has not only failed to help humans who suffer depression, PTSD, drug abuse, etc. but in some ways made the situation worse.
Psychedelics are widely misunderstood and I believe they can offer solutions under proper conditions and in a therapeutic manner.
Barriers to entry is approval to perform R&D from the U.S. Drug Enforcement Agency and states to legalize it.
Currently Legal in Oregon, California was put on hold until Jan 2022, working group to study medical use in Texas and 13 states in active legislation. The momentum seems positive and I do no see Biden going against the grain as big pharma has clearly failed and would take anything right now.
Some bullish news fresh today could cause the breakout in the positive direction for shareholders.
TORONTO — Cybin Inc., a biopharmaceutical company focused on progressing “Psychedelics to Therapeutics TM ”, today announced that the Company has been granted a Schedule I manufacturing license from the U.S. Drug Enforcement Agency (“DEA”). The DEA license is a federal requirement for any investigators who intend to study, produce, analyze or otherwise work with Schedule I controlled substances.
financialpost.com/pm...anufacturing-license
Heat map of Psychedelics Legalization
psilocybinalpha.com/...ata/psychedelic-laws
Comment:
Stock continues to slide, will wait for a bottom to form and momentum indicating upward direction for a long entry.