Ibogaine Therapy Shows Promising Outcomes For Veterans With Trauma Brain Injury
Results of a ground-breaking clinical trial on ibogaine-magnesium therapy for Special Operations Veterans (SOV) with repeated blast exposure have been published in the journal Nature. These outcomes are highly anticipated, providing crucial proof of ibogaine’s ability to restore neurological functions in affected individuals.
The study, spearheaded by Dr. Nolan Williams of Stanford University’s Brain Stimulation Lab, heralds a pioneering effort in evaluating ibogaine’s potential, using clinician-rated trials. This marks a significant stride compared to previous self-reported studies on ibogaine. The implications are vast and transformative for veterans suffering from trauma brain injury.
Kentucky’s Promising Opioid Addiction Treatment Initiative Stalls As New AG Ousts Leading Advocate
Once a leading state in ibogaine research for opioid use disorder treatment, Kentucky has encountered a setback with the appointment of Attorney General Russell Coleman, resulting in the removal of Bryan Hubbard. Hubbard, the chair and executive director of the Kentucky Opioid Abatement Advisory Commission, had led the proposal for using a portion of the state’s opioid settlements to fund ibogaine studies—a proposal that is now in jeopardy. This development is a disheartening blow to the state’s pioneering efforts in ibogaine exploration.
DEA Raises THC, Psilocybin And DMT Production Quotas For Scientific Research Purposes
The DEA has proposed an increase in the production of THC, psilocybin, and DMT for research purposes in 2024. The move is in response to requests from registered producers and will be a boon for scientific exploration in the field. This uptick in production quotas is part of a consistent trend, with the DEA having already escalated manufacturing quotas for these substances in 2021, 2022, and 2023. The continued rise signals a growing acceptance and recognition of the potential value of these substances in medical research.
AMA’s Reimbursement Codes For Psychedelic-Assisted Therapies Take Effect: Here’s What To Expect
The American Medical Association’s activation of new coverage and reimbursement codes for FDA-legalized psychedelic-assisted therapies, in the form of current procedural terminology (CPT) III codes, is a significant step towards integrating these therapies into mainstream medical practices. These temporary codes cater to emerging technologies, services, and procedures, with the aim of facilitating reimbursement and ultimately making psychedelic therapies more accessible in the U.S.
Atai Invests $50M In Beckley Psytech For Short-Duration Psychedelics Development
The biopharma and resources-pooling company Atai Life Sciences has made a considerable investment of $50 million in Beckley Psytech Ltd., a U.K.-based clinical-stage biotech focused on advancing short-duration psychedelics for various neuropsychiatric conditions. This investment, comprising a $40 million direct investment and an additional $10 million in secondary share purchases from existing shareholders, marks a significant partnership between the two entities. It also signifies Atai’s strategic move to further its foothold in the burgeoning field of psychedelics.
Psychedelics ETF’s Weekly Performance
AdvisorShares Psychedelics ETF (PSIL) started the week at $1.42, closing at $1.44 on Friday. The ETF saw fluctuations throughout the week, with the highest at $1.62 and the lowest at $1.35. These trends indicate a dynamic period for investments in the burgeoning psychedelics market.
Highest Trading Psychedelics Stocks Friday, Jan. 5 At Close
COMPASS Pathways (CMPS) closed at $8.76, nearly matching the previous closings, reflecting stability in trading.
GH Research (GHRS) closed at $5.37, showing a slight decline compared to prior weeks’ performance.
Mind Medicine (MindMed) (MNMD) closed at $4.13, indicating an upward trend from the previous closings.
Incannex Healthcare (IXHL) closed at $4.10, experiencing a decline but still surpassing historical averages.
Clearmind Medicine (CMND) closed at $2.28, displaying a downward performance trend.
Bright Minds Biosciences (DRUG) closed at $1.68, marking an upward movement compared to previous closings.
Atai Life Sciences (ATAI) closed at $1.64, reflecting a positive surge in performance compared to prior weeks.
Silo Pharma (SILO) closed at $1.46, with a mixed performance trend.
Seelos Therapeutics (SEEL) closed at $1.34, showing a decline from previous performances.
Enveric Biosciences (ENVB) closed at $1.27, maintaining similar performance levels to past weeks.