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Previously this month, Oregon ended up being the very first state to legislate using psilocybin for medicinal functions with Procedure 109, and also decriminalized the use of all medications with Step 110.
Since the Actions come on November, MindMed shares (MMED.NE) has actually risen 70%, last trading at $1.55.
The legalisation of psilocybin mirrors the climbing popularity of healing substance abuse at a time when psychological wellness issues are on the rise because of COVID-19.
" This isn't simply particular to the state of Oregon. 40% of Americans in the middle of COVID-19 had a psychological health and wellness incident and also drug abuse problem. 11% of Americans thought about suicide," said JR Rahn, creator as well as co-CEO of MindMed.
0:00 – Oregon legalizes psilocybin
2:24 – Growing mental health crisis
5:23 – Government regulation of psychedelics
7:16 – MindMed supply
10:03 – FDA approval procedure
11:45 – Marijuana sector
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Biotech stock MindMed climbs 70% after Oregon legalized psychedelics
Earlier this month, Oregon became the first state to legalize the use of psilocybin for medicinal purposes through Measure 109, and decriminalized the use of all drugs with Measure 110.
Since the Measures passed in November, MindMed shares (MMED.NE) has soared 70%, last trading at $1.55.
The legalization of psilocybin reflects the rising popularity of therapeutic drug use at a time when mental health issues are on the rise due to COVID-19.
"This isn't just specific to the state of Oregon. 40% of Americans in the midst of COVID-19 had a mental health incident and substance abuse problem. 11% of Americans considered suicide," said JR Rahn, founder and co-CEO of MindMed.
0:00 - Oregon legalizes psilocybin
2:24 - Growing mental health crisis
5:23 - Government regulation of psychedelics
7:16 - MindMed stock
10:03 - FDA approval process
11:45 - Cannabis sector
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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