Following a grand entrance last year in the minds of investors, the psychedelics investment hype continued in the first half of 2021 with even more companies hitting the big leagues.
The promise of novel psychedelic medicines has become a ringing endorsement for the investment storyline and the potential surrounding companies in the arena — so much so that the psychedelics market has seen a rush of new companies both large and small.
But what are the key moments of 2021 that investors should be aware of? The Investing News Network (INN) chatted with people evaluating the industry about the progress of the market so far this year.
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Psychedelics market update: Companies reach major valuations alongside push for senior listings
The market was shaken in June by the long-planned entry of Atai Life Sciences (NASDAQ:ATAI), a psychedelic drug development company backed by tech mogul Peter Thiel, who also supported the launch of COMPASS Pathways (NASDAQ:CMPS).
Atai had a major debut with a markup of 30 percent in value on its first day of trading, closing at a price of US$19.45. At the time of this writing, Atai held a market valuation of US$2.4 billion.
Following the COMPASS Pathways listing in 2020, experts agreed that the NASDAQ might become the hub for the psychedelic drug makers. That theory has continued in 2021 with the addition of Atai to the exchange...
Read Full Story: https://investingnews.com/daily/life-science-investing/psychedelics-investing/psychedelics-market-update/
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