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We may be now going through the same process with psychedelic drugs such as LSD, psilocybin, and MDMA. There has been promising research and evidence that these substances can help with mental illnesses and anxiety in a much more effective way than traditional treatments with fewer side effects. Further, psychedelics have the power to help at a much more root-cause level than merely treat symptoms.
Research and clinical trials are being conducted using these substances, while state legislatures in more liberal enclaves are considering its legalization for medicinal purposes. Last year, Oregon became the first state to legalize its use for medical use. Investors are also starting to pay attention as there is significant commercial potential. 3 stocks that are working on developing treatments from psychedelics are ATAI Life Sciences N.V (ATAI), Compass Pathways Plc (CMPS), and Mind Medicine Holdings (MNMD).
