We are excited to add 8 new companies to our Psychedelic Invest Index – the first index in the market that comprehensively covers the entire public psychedelic sector.

Nearly one year ago, we launched this index to bring much-needed financial data for new investors tracking the market. At the time, the index only consisted of 22 companies. With today’s update, the index now boasts a total 58 publicly traded organizations – representing a 163% jump in the size of the market year over year.

Today’s update also comes with some notable changes to the index landscape.

For example, three of the eight new constituents landed in the Top 10 by Market Capitalization. As larger companies get added to the mix, the index weighting becomes more diversified and will likely lead to less volatility in regards to the index’s spot price.

  • atai Life Sciences (ATAI) is now the largest company in the space with a market cap ($2.8B) that’s near twice the size of the second-largest company, Compass Pathways ($1.6B)
  • GH Research (GHRS) is now the 4th largest company in the space, boasting a market cap of $1.08B.
  • Goodness Growth Holdings (GDNS), a company that is still primarily tied to the cannabis industry, is now considered the 9th largest company on the index.

On another note, five of six largest companies in the space are currently trading on the NASDAQ. With exposure to many more investors, one may think that these companies are leading the way on Share Volume (i.e. the amount of shares traded daily), but that’s far from the case. Atai, for example, see’s significantly less trading volume than others despite having the largest market cap.

Continue reading to learn a bit more about our latest additions to the index.

  • Ticker: NASDAQ:ATAI
  • IPO Date: June 2021
  • Focus: Psilocybin, ibogaine, arketamine, drug discovery, R&D
  • Investor Note: atai is a clinical-stage biopharmaceutical company that is developing psychedelic compounds and digital therapeutic models. The largest psychedelic company in the market, atai currently has dozens of R&D initiatives that we have recently covered here
  • Ticker: CSE:CMND
  • IPO Date: May 2018
  • Focus: R&D
  • Investor note: Formerly Cyntar Ventures, a mineral resource exploration operation, Clearmind Medicine completed a “change of business” listing in May 2021. Clearmind’s intellectual portfolio currently consists of two patent families, one for binge behavior regulators and the other for an alcoholic beverage substitute.
  • Ticker: NEO:MEDI
  • IPO Date: May 2021
  • Focus: Ketamine therapy clinics, R&D
  • Investor Note: KetamineOne is focused on creating ketamine therapy clinics. They recently acquired Integrated Rehab and Performance, a therapy clinic company based in Canada.
  • Ticker: NASDAQ:GHRS
  • IPO Date: June 2021
  • Focus: 5-meO-DMT, R&D
  • Investor Note: GH research is currently developing an inhalable 5-meO-DMT molecule to treat treatment-resistant depression (TRD).
  • Ticker: NASDAQ:ENVB
  • IPO Date: December 2020
  • Focus: R&D, drug discovery
  • Investor Note: Enveric Biosciences joined the psychedelics space by acquiring MagicMed in May 2021. MagicMed has multiple psychedelic derivatives developed through the combination of synthetic biology and traditional chemistry techniques. The company currently has 13 patent applications filed for derivatives of psilocybin and DMT, and 2 patent applications filed for derivatives of mescaline and MDMA.
  • Ticker: NEO:AWKN
  • IPO Date: June 2021
  • Focus: R&D, therapy, drug discovery
  • Investor Note: Awakn is targeting drug compounds that may help treat addiction. Their early focus is on ketamine, with medium-long term goals of researching MDMA and other novel compounds.
  • Ticker: NEO:FH
  • IPO Date: June 2021
  • Focus: psilocybin, drug discovery
  • Investor Note: Filament health is an exclusively-natural psychedelic drug discovery and extraction company. 
  • Ticker: CSE:GDNS
  • IPO Date: March 2019
  • Focus: Brand development, R&D
  • Investor Note: Goodness Growth was formerly known as Vireo Health, and was a medical marijuana company. The change comes from the company’s belief in psychedelic medicine and the impact it could have on medicine as a whole.

Changes to the index have been made effective on July 1st, 2021.