The psychedelics space is heating up, and major players have taken notice.
The market is bolstered by a growing number of decriminalization movements across the United States, as well as an increasing number of market participants, including names like COMPASS Pathways PLC (NASDAQ: CMPS), Field Trip Health Ltd (NASDAQ: FTRP), Cybin (NYSE: CYBN), Enveric Biosciences Inc (NASDAQ: ENVB), Hollister Biosciences (OTC: HSTRF) and Revive Therapeutics (OTC: RVVTF).
Cannabis companies are joining the market, as are notable leaders from the marijuana space. Notable names include former Canopy Growth Corp (NYSE: CGC) CEO Bruce Linton, now a director for Toronto's Mind Medicine (MindMed) Inc (NASDAQ: MNMD) and chairman of the advisory board for Red Light Holland (OTC: TRUFF), a brand focused on truffles.
In June of 2020, Aurora Cannabis (NYSE: ACB) co-founder Terry Booth left his cannabis venture. In doing so, Booth has shifted attention towards psychedelics, investing in Red Light Holland. Booth also joined Psyched Wellness Corp.'s board in May.
What's The Appeal Of Psychedelics?
Those who spoke to Benzinga for this article believe that the interest in the emerging space stems from creating a medical impact as well as cannabis regulatory frustrations.
Linton told Benzinga his interest in the …