There’s been a lot of excitement about psychedelics in the public markets. But, is DMT about to become the next breakthrough compound to change the future of pharmaceuticals?

‍What’s happening:‍

• Multiple publicly listed psychedelic drug development companies have announced positive data from recent clinical trials focused on using DMT as a therapeutic treatment
  

Why it matters:‍

• DMT is one of the most powerful psychedelic compounds in existence and has shown immense promise in potentially being an innovative treatment for conditions such as alcoholism, drug addiction and even PTSD
  

Who is making moves:‍

• atai Life Sciences (NASDAQ: ATAI) portfolio company Beckley Psytech recently announced positive clinical data from their Phase II open label study of their novel DMT compound for treating Alcohol Use Disorder
  
• GH Research (NASDAQ: GHRS) just recently announced exceptionally promising results from their Phase II clinical trial focused on using their novel DMT therapeutic for treatment resistant depression, which saw some of the strongest patient outcomes of any clinical trial in the history of psychedelic medicines with more than half of all individuals enrolled in the trial experiencing remission from symptoms in just a week
  

Going deeper:‍

• Psychedelic medicines have continued to make major progress with healthcare regulators lately, including Johnson & Johnson’s (NYSE: JNJ) recent notable approval from the United States Food and Drug Administration for their ketamine derived nasal spray Spravato to begin being used as a monotherapy for treatment resistant depression

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