Top Canadian Psychedelic Company Stocks to Watch

Are you new to psychedelic stocks? Many Canadian psychedelic companies are starting to establish a significant place in the pharmaceutical industry and will be major players in the next coming years. Let’s see what these psychedelic company stocks Canada are and what they are up to in 2021.


1. Bright Minds




Bright Minds Biosciences is a biotech company that focuses on serotonin-based medicines for mental health issues and epilepsy. The company’s main focus of the drug candidates is aimed at treating life-altering diseases. Some of the portfolio of drugs from Bright Minds Biosciences is selective 5-HT receptor agonists.

Recently Bright Minds Biosciences made its debut in Nasdaq Stock Market and looking forward to expanding its drug candidates.

2. PharmaTher Holdings Ltd.

PharmaTher Holdings is a clinical-stage firm whose research and development efforts are focused on a wide range of uncommon diseases and pain problems. At the moment, the company is embarking on a Phase 3 clinical study involving psychedelics for the treatment of Parkinson's disease. Their medication clinical trials have been approved by the Food and Drug Administration.

3. Fusion Pharmaceuticals

While cancer treatment is still in search of more effective treatment approaches, Fusion Pharmaceuticals is developing cancer medicines that target specific tumour cells in order to be more effective. Because many orthodox cancer therapies include side effects, alternative medications can be utilised to treat the illness while also improving one's quality of life.

4. Mind Medicine

As the name suggests, Mind Medicine is working on finding the healing power of the mind in the patients. Their research and treatments are led by psychedelics, where they are also partnered with various experts in the field.

So far, the company has raised around $204 million. Their recent clinical trial combining MDMA and LSD for mental health has been successful.

5. Field Trip Health Ltd.

It was the goal of Field Trip Health Ltd. to develop approaches grounded in scientific inquiry while also drawing on the knowledge and experience of generations of traditional psychedelic practitioners. The company just went public on the Toronto Stock Exchange and is currently constructing a psychedelic-enhanced therapeutic centre in Houston, Texas.
People who suffer from mental health disorders and do not benefit from traditional therapies are the target audience for the company's remedies. Depression, generalised anxiety disorder, trauma, and other disorders are all possibilities.

6. BlueRock Therapeutics

As part of its mission to develop innovative approaches to reverse diseases, BlueRock Therapeutics is focusing on the development of the cell+gene platform, which targets mature and differentiated cells. They employ cutting-edge engineering to enhance the therapeutic characteristics of the cells they are working with. They intend to employ their platform in a variety of fields, including cardiology, neurology, and immunity.

Conclusion

According to financial data from 2020, the psychedelic company stocks in Canada performed remarkably well in 2020, piquing the interest of an increasing number of investors for the year 2021. If you are looking to make an investment in psychedelic stocks in 2021, we recommend that you have a look at our list.

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