Latest news with #psychedelics
Telegraph
3 days ago
- Health
- Telegraph
Psychedelics have gone mainstream – don't buy into it
It's hardly unusual for a radio station to invite the listener to turn on and tune in, but Radio 4 has been encouraging us to drop out too. All throughout this week and next, Tim Hayward is taking The Trip (Radio 4, Mon-Fri; all episodes on BBC Sounds), a deep dive into the world of psychedelics, while on Tuesday night Ed Prideaux was Trip Shocked (Radio 4, Tues), which covered much of the same territory. A quick Google of the word ' psychedelics ' tells you why there is such a glut of interest. The first three headlines: 'Can psychedelic therapy go mainstream?', 'Psychedelic medicine could revolutionise how we treat mental illness' and 'Psychedelics may offer hope for treatment of eating disorders.' The next few hundred headlines are similar. The psychedelics are coming for your mental health. Psychedelics, as Prideaux said, have had a 'reputational glow-up' in recent years, transforming in the public mind from bogeyman life-destroyers favoured by opt-out beatniks to miracle drugs for all and any mental health conditions. Prideaux – who took LSD on four occasions 10 years ago when he was 17 and, among the enjoyable moments, suffered from violent stomach pains and HPPD (hallucinogen persisting perception disorder) – is both surprised at the surge in popularity of psychedelics and concerned about their spread as a medical cure-all. It hardly needs stating that Prideaux found that not nearly enough research or clinical trials have been done around the medical use of the drugs – the question is, why then are they being pushed so aggressively towards the mental health sector? The answer was depressingly obvious. In the first quarter of 2025, more than $350m was invested in psychedelic biotech companies. Like the opiate industry before it, the psychedelic lobby in the US has been evangelical about promoting its products, roping in veterans suffering from PTSD (as they did with opioids and veterans living with pain). Side-effects, malpractice and even deaths have been unreported or brushed under the carpet as a booming new market seeks to take advantage of a sea change in public and political opinion (one of those hundreds of headlines reads: 'How MAGA learnt to love psychedelics'). Instead there exists a mushy atmosphere of woowoo, with phrases such as 'net-zero trauma' and 'inner healer' bandied around among the easy-win headlines about magic mushrooms curing depression. They'll change your life, man. Well, yes, quite possibly, but could we have a few more double-blind clinical trials first? Prideaux did not deny that psychedelics seem to work incredibly well, and incredibly quickly, for some people suffering from a broad spectrum of mental health conditions. Hayward's series, meanwhile, uncovered another depressing truth – in the 'pre-prohibition era of psychedelics', in the early to mid-20th century, research was booming, but the whole industry was driven underground when the societal winds changed in the 1960s. Only now are we starting to scratch at the surface of what psychedelics might be capable of. Hayward wanted, in particular, to find out what was going on in a brain altered by psychedelic drugs, which led to some extremely entertaining segments about drug users chatting to superintelligent gnomes and the idea that the key to understanding human consciousness lies in the venom gland of the Colorado River toad. Yet while both programmes hinted that humanity is on the cusp of unlocking all sorts of exciting things via the substances that led to Sgt. Pepper's Lonely Hearts Club Band, the overall effect was a little dispiriting. Political fear brought about the suppression of research into psychedelics more than half a century ago, and now the allure of private financial gain is getting that research moving again. I lost count of the amount of times a neuroscientist ended a sentence with 'but we just don't know enough yet' or 'but the evidence isn't here yet'. 'Journalists look for simple narratives,' said one researcher to Prideaux. I tried looking for one, but these trips messed with my mind. More research is needed.
Yahoo
01-08-2025
- Business
- Yahoo
AbbVie in Talks to Acquire Gilgamesh in $1 Billion Deal
(Bloomberg) -- AbbVie Inc. is in talks to acquire next-generation psychedelics developer Gilgamesh Pharmaceuticals, according to people familiar with the matter, highlighting growing interest in a controversial field of medicine that's starting to gain wider acceptance. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus A potential deal could value privately held Gilgamesh at about $1 billion, the people said, asking not to be identified because the information is private. An announcement could be made in the coming weeks, the people said. Deliberations are ongoing and could still be delayed or fall apart, according to the people. A representative for AbbVie, which reported earnings early Thursday, declined to comment, while Gilgamesh did not reply to requests for comment. AbbVie's shares rose 5.7% before markets opened Thursday after the drugmaker raised its profit guidance for the year. An acquisition would come a little more than a year after AbbVie and Gilgamesh entered into a collaboration agreement to develop next-generation psychedelics for mental health conditions. Led by founder and Chief Executive Officer Jonathan Sporn, Gilgamesh focuses on developing treatments for depression, anxiety, drug addiction and other mental illnesses. In May, the company announced positive results in a study of one of its furthest along drugs, known as GM-2505, which targets major depressive disorder. Gilgamesh is developing what are known as neuroplastogens, a next-generation psychedelic that is fast-acting and isn't supposed to cause hallucinations. A deal would bolster AbbVie's pipeline of potential treatments for psychiatric disorders after a drug it acquired for schizophrenia failed in mid-stage trials last year. AbbVie sells another drug, Vraylar, for schizophrenia and bipolar disorder. Analysts from Jefferies said in a note that the potential Gilgamesh deal could 'increase the Street's confidence that psychedelics are an investable space.' US Health Secretary Robert F. Kennedy Jr. and Food and Drug Commissioner Marty Makary have also recently signaled support for psychedelics, Jefferies analysts said. Separately, Atai Life Sciences NV is working with an investment bank to field early stage interest from major industry players, the people said. The Peter Thiel-backed firm, which recently acquired Beckley Psytech, has received positive results from a recent mid-stage trial of a psychedelic nasal spray dubbed BPL-003. A representative for Atai declined to comment. Psychedelic drug development is picking up steam with Bloomberg Intelligence analysts estimating the market could grow to $7 billion in sales by 2032. The market potential 'is clear,' they say, but companies could still run into issues with regulators and in scaling up products. (Adds shares and analyst comments throughout.) Russia Builds a New Web Around Kremlin's Handpicked Super App Burning Man Is Burning Through Cash Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P.
Yahoo
19-07-2025
- Business
- Yahoo
Tilray (TLRY) Stock Trades Up, Here Is Why
What Happened? Shares of cannabis company Tilray Brands (NASDAQ:TLRY) jumped 3.3% in the afternoon session after President Trump signed a bill that could ease federal research restrictions on cannabis and psychedelics. This legislative development was seen as a significant step forward for the cannabis industry, potentially paving the way for more extensive scientific and medical studies. Easing federal research barriers could accelerate the development of new cannabis-based medicines and products, a positive for companies like Tilray which have a global presence in the medical cannabis market. The news appeared to lift sentiment across the broader cannabis sector, as it signaled a potential softening of the historically strict federal stance on cannabis in the United States. Investors reacted positively to the potential for expanded research, which could unlock new markets and applications for cannabis companies. After the initial pop the shares cooled down to $0.62, up 2.3% from previous close. Is now the time to buy Tilray? Access our full analysis report here, it's free. What Is The Market Telling Us Tilray's shares are extremely volatile and have had 57 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 2 days ago when the stock gained 3.5% on the news that continued momentum that saw the stock rise significantly in July. The stock's upward movement appeared to be driven by technical factors and broader momentum in the cannabis sector rather than specific company news. Analysts noted that Tilray's stock price recently moved above its 50-day and 25-day moving averages, with the two averages poised to form a "bullish crossover pattern," a technical signal that often suggests further price increases. This technical strength has contributed to a rally of over 50% for the stock in the past month. The move comes despite a lack of major company-specific announcements. Investors are, however, looking ahead to the company's fourth-quarter and full-year 2025 earnings report. Tilray is down 57.3% since the beginning of the year, and at $0.62 per share, it is trading 69.3% below its 52-week high of $2.03 from July 2024. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
Yahoo
16-07-2025
- Business
- Yahoo
Debanking drives psychedelics firm to tap Scott Melker to drive Bitcoin strategy
Debanking drives psychedelics firm to tap Scott Melker to drive Bitcoin strategy originally appeared on TheStreet. Red Light Holland Corp. (CSE: TRIP), an Ontario-based psychedelics company, announced on July 15 that it has adopted a Bitcoin balance sheet strategy. The company is engaged in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, in addition to psilocybin truffles in the legal, recreational market within the Netherlands. Scott Melker is the host of The Street Roundtable and The Wolf of All Streets podcasts, joined Red Light Holland as its senior advisor and crypto czar on July said: "Red Light Holland's pivot to Bitcoin after banking challenges is pure grit and vision. This isn't just about smart investments; it's about building a decentralized future where people hold the power. I'm fired up to lead their Bitcoin strategy and help make Red Light Holland a beacon in both psychedelics and crypto." The psychedelics company said its decision to embrace Bitcoin is informed by its past experiences of having faced challenges with traditional banking, including being debanked by a Tier 1 bank. Red Light Holland CEO Todd Shapiro said: "Psilocybin users and Bitcoin holders are visionaries who crave mental and financial freedom. After navigating debanking by a Tier 1 bank, we embraced Bitcoin as our store of value, proving our resilience." Red Light Holland is going to allocate up to around $1.5 million (CAD 2 million) to Bitcoin and related assets. It is exploring the cryptocurrency as a "decentralized solution" to bolster financial resilience. The company's new balance sheet strategy includes investing up to around $182,000 (CAD 250,000) per tranche. Its initial investment of around $153,000 (CAD 210,000) in a Bitcoin ETF on June 23 has already delivered an impressive return, it said. Bitcoin hit a record high of $123,091.61 on July 14 and is undergoing a correction phase. As per Kraken's price feed, BTC was trading at $116,820.36 at press time. Debanking drives psychedelics firm to tap Scott Melker to drive Bitcoin strategy first appeared on TheStreet on Jul 15, 2025 This story was originally reported by TheStreet on Jul 15, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
09-07-2025
- Business
- Bloomberg
Quicker Psychedelic Drugs Offer Investors a Better Trip
More than three years after a bubble in psychedelic drug stocks burst there are signs that the bad trip for investors is over. Confidence and capital are tentatively returning to this pioneering sector amid encouraging trial data and as senior Trump administration officials signal openness to utilizing these mind-altering drugs to tackle mental health conditions such as depression. But to regain past stock market highs, psychedelics companies must also demonstrate commercial viability; not easy when patients consuming hallucinogens such as psilocybin (the active ingredient in magic mushrooms) and LSD might require supervision for between six and 12 hours.
