This is Psychedellux – the week’s top psychedelic industry headlines.

MindMed (NASDAQ: MNMD) shareholders have been taken on quite the trip over the last few days as the company uplisted from the Over The Counter Market to the big time at the NASDAQ. The stock jumped to over $5 a share in its last days at the OTC Markets, only to move to midtown Manhattan and see the shares plunge 29% in its debut. The stock closed at $4.02 on Tuesday. 

Numinus Wellness Inc. (TSXV: NUMI) announced that it has formed a partnership with KGK Science, a leading contract research organization with expertise in natural products, to undertake a new Psilocybin extraction clinical trial. The Phase 1 trial will enroll 14 human volunteers and assess the safety and psychoactive properties of a Psilocybe mushroom product extracted and formulated at the Numinus Bioscience lab. The company also said it was listing its warrants on the TSX Venture Exchange

PharmaTher Holdings Ltd. (OTCQB: PHRRF) has filed a provisional patent application with the U.S. Patent and Trademark Office outlining the novel use of ketamine as a potential treatment for Type 2 diabetes and obesity, based on the evaluation of the company’s drug repurposing artificial intelligence platform. PharmaTher recently used this platform to discover novel uses of psilocybin in the potential treatment of certain cancers, which led to the sale of the company’s psilocybin intellectual property portfolio to Revive Therapeutics Ltd. (OTC: RVVTF) for a consideration of up to C$10 million.

COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced the launch of a proposed public offering of 4,000,000 American Depositary Shares (“ADSs”), each representing one ordinary share.