Investing in Psychedelic Treatments for Addiction
Jenny Jacobs is a registered nurse.
As you can imagine, given the recent upswing in COVID cases, she’s been extremely busy.
But perhaps not in the way you might think.
You see, Jenny doesn’t work in an emergency room or at a private family health practice.
Jenny works at a rehab clinic where folks with all kinds of addictions come to get clean.
And since COVID-19 took hold, addiction rates have skyrocketed, leaving her small clinic understaffed and overwhelmed.
Now, she’s been working at this particular clinic for 13 years and has always loved her job.
Being the daughter of parents who were both addicts, she knows the pain of addiction.
She knows how it not only affects those struggling with addiction but also the children of those who are addicted to everything from alcohol to opioids.
A few days ago, Jenny called me in tears. Apparently one of her patients had relapsed and was arrested for trying to buy heroin on the streets. Child Protective Services picked up the patient's daughter and the two are now separated.
It brought up some pretty painful memories for Jenny as the same thing happened to her at a very young age.
I can’t even imagine the pain of something like that.
Not only having to battle addiction but to be separated from your children.
But this is the reality of addiction.
This is what addiction does.
And while we can certainly feel sympathy for those who battle addiction every single day, sympathy isn’t going to fix anything. Hell, the current therapies we have in place today barely work.
Which is incredibly frustrating when there are a few treatments that exist today that could actually completely end addiction as we know it — and do it not through years of therapy but sometimes in a matter of days.
The Cure for Addiction Is Very Real and Very Profitable
If you’re a regular reader of these pages, you know that certain psychedelic compounds such as psilocybin mushrooms and LSD are now being used to treat addiction — with much success.
Perhaps the most well-publicized research thus far has come out of Johns Hopkins University, which showed tremendous success in treating smoking addiction with psilocybin therapy.
If you’re unfamiliar, psilocybin is the psychedelic compound produced by “magic mushrooms.” And in this Johns Hopkins study, researchers saw an 80% success rate, which is unheard of in the world of addiction treatments.
The most "effective” smoking cessation therapy on the market today boasts a success rate of about 30%. Hardly a "success," to be sure.
In addition to studies being conducted at Johns Hopkins, there are now about a dozen private and public companies actively conducting, or preparing to conduct, FDA clinical trials.
That’s right, the FDA is now backing clinical trials for companies using psychedelics to treat addiction.
The addiction epidemic is so bad that even the very government that outlawed psychedelics more than 40 years ago is now pushing to get this stuff properly tested and out into the market.
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One company that’s done very well in this space so far is Mind Medicine (OTCBB: MMEDF), which is currently running human safety studies of a psychedelic compound used to treat opioid addiction.
I personally own shares of this one and actually took a position in it because of the simple fact that if this treatment works, literally millions of people across the globe suffering from opioid addiction could be cured.
Certainly, I love the idea of owning shares of a company that could benefit society in such a major way. And, of course, if the company’s addiction therapy proves successful, the stock will go ballistic.
Truth is, it already has.
The company went public earlier this year, and here’s how it’s performed so far…
Members of my Green Chip Stocks community who bought this stock when I recommended it have now more than doubled their money.
I’ve also recommended a couple other psychedelics plays, which you can read more about here.
While I don’t know for certain if psychedelic therapies designed to treat addiction will prove to be successful for the masses, early indications are promising. And early gains are making me feel really good about my latest move into the psychedelics space.
I even wrote this short report on the burgeoning psychedelics market and, of course, how you can get a piece of it.
To a new way of life and a new generation of wealth...
@JeffSiegel on Twitter
Jeff is the founder and managing editor of Green Chip Stocks, a private investment community that capitalizes on opportunities in alternative energy, organic food markets, legal cannabis, and socially responsible investing. He has been a featured guest on Fox, CNBC, and Bloomberg Asia, and is the author of the best-selling book, Investing in Renewable Energy: Making Money on Green Chip Stocks. For more on Jeff, go to his editor's page.
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