Over the last 20 years, “The number of psychopharmacological drugs research programs in larger drug firms has shrunk by 70% in the past decade,” reported The Guardian. “In general the larger companies have walked away from psychiatry. There are a few companies who have maintained efforts in the area but 70% tells you it’s been a pretty remarkable departure. Many withdrew from neuroscience entirely.” Of course, that needs to change, which is why companies like Silo Wellness (CSE:SILO), Cybin Inc. (NEO:CYBN)(OTC:CLXPF), Tryp Therapeutics Inc. (CSE:TRYP), Field Trip Health Ltd. (CSE:FTRP)(OTC:FTRPF), and Compass Pathways Inc. (NASDAQ:CMPS) are all fighting to advance psychedelics as a potential treatment.
Psilocybin for example may be helpful with anxiety, PTSD, opioid addictions, obsessive-compulsive disorder (OCD), and alcoholism. For example, a study from JAMA Psychiatry found that psilocybin “worked better than the usual antidepressant medications,” as noted by NPR, for example. New York Univ. found “Psilocybin produced immediate, substantial, and sustained improvements in anxiety and depression and led to decreases in cancer-related demoralization and hopelessness, improved spiritual well-being.”