The psychedelic companies are looking at a great future, but they cannot have large revenues to thrive until after legalization. Sooner or later, the psychedelic companies will be legalized, and there’s no doubt about that, but until then, the companies are operating under the hope of legalization, which is not a great position to exist in.
But there are a few alternatives that work for the companies in generating revenue, and there aren’t many issues with them, thanks to the legal landscape.
Stock Market And Investment
Recently, many psychedelic companies are making their debut in the stock market, and investments have been contributing to the advancements of their ongoing research and drug trials. This is also the only way towards getting the drug candidates legalized and eventually making their way into the mainstream market and finally treatments.
But it goes without saying that investments are external capital, and the companies cannot solely rely on or expect the revenue generation from investments at all times. Because investors, too, are making decisions on companies’ promises or positive regulation, one of which is not in control of the companies.
Selling Functional Mushrooms
There are companies that are exclusively working on selling functional mushrooms, but psychedelic companies are research-driven. They have an extra deal of time, effort, and capital and have excellent facilities to study the mushrooms and produce them in better quantity and quality.
They can also use their capabilities to research and explore various other types of legal mushrooms or fungi that are non-psychoactive which already have great market traction. Functional mushrooms provide many health benefits, including immunity boosting, improving daily energy, improving cognitive function, etc.
Mind Cure is a psychedelic company that already has a commercialized line of functional mushrooms named Moonbeam, which they have been successfully selling after approval from Health Canada.
Have Life is another company that has recently received approval from Health Canada for its line of seven functional mushroom products. These are focused on helping in mood, immunity, stress relief, etc.
Digital Therapeutics & Infrastructure
Digital infrastructures are gaining traction in the psychedelic industry, and it is almost fast becoming a necessary part of the therapy landscape. Psychedelic companies like Mind Cure Health Inc. have developed new technologies in the landscape of digital therapeutics and have their own digital platform. Digital infrastructure helps in making the psychedelic-assisted therapy process more efficient. It also helps the therapists to engage in assisting in the healing of their patients.
Mind Cure is partnering with ATMA Journey Center for their digital platform to get into integrated clinics. Their digital therapeutics is focused on providing personalized mental health support and are looking at steady income streams for the company.
Conclusion
Bright Minds Biosciences is a biotechnology company that has recently made its debut in the stock market. The company is focused on the generation of highly targeted serotonergic drugs and a few drug candidates on trial.
The Bright Minds biotechnology company has already been listed on the Canadian Stock Exchange and has been transformed into a publicly traded organization.
There is a team of scientists & researchers who have brought extensive expertise and experience in drug discovery and development to develop first-generation psychedelic therapies.
