There was a time not so long ago that the idea of completely legal psychedelic-based therapeutics being administered by a real life health professional would have been unthinkable. Psilocybin and other psychedelics had a 30-odd-year “dark age” in terms of clinical research—it simply wasn’t done, thanks in large part to what informed individuals might describe as overbearing legislation and widespread public misconception.
However, thanks to the efforts of pioneers like Dr. Franz Vollenweider in the late 1990s, psychedelic and psilocybin research has slowly-but-surely again returned to the greater public consciousness. Since then, even household name organizations like Johns Hopkins have been conducting research (thanks in large part to psychopharmacologists like Roland Griffiths).
So, where are we now, here in 2021?
There’s a new psychedelic revolution—and it wants to sell you shares.
The “New” Psychedelic Sector Gained the Ability to Flourish Thanks in Large Part to the Work of Psilocybin Advocates
Here we place the word new in quotes because the physical and emotional benefits of psychoactive compounds like psilocybin have been known about for a very, very long time indeed—likely thousands of years. For more about either topic, read our in-depth articles The Benefits of Psilocybin and Mushrooms and Humanity.
Last year, psilocybin advocates started making waves in the legislative world—well, it seems like all this just started last year, but in fact their victories are the result of years of hard work at organizing and educating.
Two high profile ballot initiatives in Washington, D.C. and Oregon were overwhelmingly supported (Initiative 81 and Measure 109 respectively) by voters, showing a marked increase in public interest in these—here are those quotes again—“new” therapies. Both measures sought to decriminalize (not legalize, there is a difference) and empower licensed service providers to administer psilocybin-assisted therapies to forward-thinking patients.
You can read more about these initiatives and what it might mean for you if you live in either of those states in our post Washington, D.C. and Oregon Psilocybin Initiatives Approved: What it Means for You. If you don’t live in D.C. or Oregon, take comfort in knowing that similar initiatives are likely to come to your state at some point in the relatively near future. When they do, make your voice heard and vote.
Psilocybin Assisted Therapy Research is Leading the Charge—And Investors Are Noticing
The exciting developments discussed in the previous section have no doubt strongly contributed to the massive expansion of the psychedelic therapeutics industry (with psilocybin research often at the forefront).
Thanks to the legal framework that has been laid out, the focus of the industry is largely directed at psilocybin assisted therapy and psychedelic pharmaceuticals.
Psilocybin-assisted therapy is the term used to describe treatments administered by a licensed professional that involve the use of psilocybin. These treatments may involve guided therapy sessions, prescribed psilocybin-based pharmaceuticals (natural or synthetic), or microdosing. To learn more, and to see what real-world patients have had to say about the process, please read our post What is Psilocybin-Assisted Therapy, and Why Are Medical Professionals so Excited About It?
Big business—and investors—have noticed. For example, Mind Medicine Incorporated, a company originally based out of Canada that “[Helps] patients unlock the healing power of the mind through Psychedelic Inspired Medicines & Experiential Therapies,” has enjoyed explosive growth and a $80 million investment.
Mind Medicine’s OTC shares (MMEDF) were tracking at around forty cents this time of year last year, but at the time of this writing they’re at a healthy $3.63 per share—a more than 900% increase over just a few months.
COMPASS Pathways (CMPS) only went public with their shares last September, with shares being valued at around $29 (after a $17 IPO). At the time of this writing, shares are selling for $48, a 165% growth. Backed by venture capitalist Peter Thiel, the company currently has a psilocybin-based treatment for depression patients entering Phase 2 of clinical trials, offers therapist training, and has plans for even more psilocybin clinical trials.
These two companies are just the tip of the psilocybin iceberg, so to speak. Other companies of note in the psychedelic sector include:
All right, we’re a blog about psilocybin spores and amateur microscopy, so we won’t continue to bore you with the financial details here. The point this author wants to make is that the so-called psychedelic sector is here in a big way and it’s likely to only continue to expand.
For psilocybin researchers and advocates, that’s very good news indeed. Commercial interest will help promote psilocybin adoption into the mainstream. Once people start to realize that maybe, just maybe, the psilocybin compound is an effective treatment for a range of mental health disorders including depression, anxiety, obsessive-compulsive disorder, and post traumatic stress disorder, to name a few, we may eventually enjoy full legalization.
In the meantime, why not get out those microscopes and do a little research of your own?
Amateur Microscopist? Start Researching Psilocybin Mushroom Spores at Home
Did you know that in most states of the US psilocybin mushroom spores are legal?
The amateur microscopy community has come to rely on Quality Spores for our completely viable, contaminant-free, authentic exotic mushroom spores. With longtime research favorites like Golden Teacher, B+, and the rumored-to-be Terence McKenna’s very own strain, the humorously named Penis Envy spores.