Psychedelic Therapies Could Reach Consumers in Record Time
April 8th, 2020
Psychedelic research has become one of the most important initiatives in psychiatry and brain science after decades of research paralysis following the war on drugs, according to a paper published in Cell. After spending a decade understanding psychiatric brain function, researchers are now looking into the mechanisms underpinning those findings.
David Nutt, one of the paper’s authors, told Newsweek that it patients could be “less than five years” away from receiving these drugs to treat psychiatric conditions. The timeline would be significantly shorter than many other drug development programs that go through FDA clinical trials — many of which take upwards of a decade and cost billions of dollars.
The growing body of scientific evidence that psilocybin and other psychedelics could treat mental disorders like depression, anxiety and PTSD has spurred the government to fast-track research in the space. For example, Compass Pathways received the FDA’s “breakthrough therapy designation” that could result in a treatment option by 2021.
Psilocybin and other psychedelics also enjoy many of the same advantages as medical cannabis has when it comes to clinical trials. In particular, the drug is likely to be safe at a variety of doses (eliminating Phase I and II clinical trial risks), which leaves efficacy as the only uncertainty — a Phase III clinical trial concern for most companies.
In addition, Compass’ success with the FDA could make it easier for other companies to receive approval for their own research programs. Approvals to treat some medical conditions could also lead to off-label use across related mental health disorders, creating a significant opportunity for pharmaceutical companies in the space.
Investors interested in the psychedelic space may want to take note of these trends, which could translate to nearer-term revenue opportunities relative to other pharmaceutical programs.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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