Water Tower Research Publishes Industry Report on Psychedelics Titled, “The Psychedelics Renaissance”
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August 2, 2022, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Industry Report on Psychedelics titled, “The Psychedelics Renaissance”. The report can be accessed here.Shunned for five decades in a long-lasting backlash against the counterculture era, interest in the therapeutic value of psychedelics has never been higher. While mental disorders were all too common prior to the onset of COVID-19, it is the pandemic that has raised awareness of the severity of the human and economic costs of the mental health crisis.The positive consequence of the pandemic is that it has pushed mental health up the totem pole of healthcare priorities resulting in unprecedented urgency to seek better solutions than are currently available, creating a clearer pathway for the psychedelics renaissance. More accommodating positions by the FDA and other regulators around the globe in the last five years have encouraged a surge in active clinical trials in various psychedelics led by psilocybin and MDMA, a trajectory that has accelerated since the onset of the pandemic. Early results from multiple trials are yielding very encouraging clinical outcomes.The growth of the cannabis industry offers a glimpse of what to expect in the psychedelics industry as regulations, public opinion, and early investment continue to move in a positive direction. The average market cap of publicly traded cannabis companies is $200 million versus ~$70 million for listed psychedelics-related companies. While cannabis and psychedelics are not comparable from a medical or functional perspective, their valuation comparison does provide food for thought about the potential investment opportunity in the nascent psychedelics space.