Largely Untapped Market for Hallucinogenic Draws Attention of Researchers at XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT)
Apr 16, 2021
- XPhyto Therapeutics Corp., a life sciences technology accelerator, is looking for ways to turn promising psychedelics into therapeutic pharmaceutical drugs, and recently added mescaline to its study profile
- Mescaline is illegal under U.S. federal law, but some state-centric efforts to legalize or decriminalize the hallucinogenic have launched in a manner similar to the populace effort that produced a wave of cannabis product legalization
- Mescaline has historically defied predictable outcomes by researchers, but advocates cite it as a means of successfully treating some mental health and substance abuse disorders
- A number of psychedelics production stocks saw huge gains during the past year
Bioscience industry innovator XPhyto Therapeutics (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT) tapped into a ready market when it began the production and testing process for a rapid, point-of-care RT-PCR test system for COVID, but the Canada-based company raised eyebrows when it announced its Alberta subsidiary XPhyto Laboratories Inc., had added mescaline production to its psychedelic medicine development programs earlier this year (https://ibn.fm/zQUC1).
The small cap markets have seen the rise of several progressive psychedelics stocks over the past couple of years that further defined their sector as a potential growth area in 2020. Health Europa recently reported that Mind Medicine Inc saw its share price increase 864 percent last year, for example, and that Numinus Wellness increased 555 percent while Red Light Holland increased 300 percent, and…
NOTE TO INVESTORS: The latest news and updates relating to XPHYF are available in the company’s newsroom at https://ibn.fm/XPHYF
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