Psycho-active drugs have been a topic of debate for many decades for both their harm and their benefits. While research into the field significantly slowed down in the 1970s after Nixon declared the war on drugs, psilocybin – or magic mushrooms – have resurfaced in recent years for their potential to treat illnesses varying in severity from mental disorders to cancer. Seizing on the health benefits of psilocybin, PsyBio Therapeutics Corp. (TSXV:PSYB) (OTCQB:PSYBF) finds itself among the industry leaders as an intellectual property driven biotechnology company developing new formulations of psychoactive drugs. For investors looking to invest in biotech penny stocks, PSYBF is a good candidate.
PSYBF develops innovative drugs that target the treatment of mental health challenges, including depression and other neurological disorders. Through a recent press release the company announced it has filed 3 new patent applications for different projects with the United States Patent and Trademark Office.
In order to continue funding their operations, PSYBF listed on the OTCQB market in an attempt to improve liquidity for the company’s current and prospective shareholders by bringing in US investors. In addition, the company is also listed on the TSX Venture Exchange in Canada.
The company successfully launched their first European pilot batch for its psychedelic portfolio of compounds. Since then PSYBF has announced their ability to manufacture PsyBio-11040 – one of its first promising therapeutic candidates – at commercial scale. This is a big achievement for PSYBF as they moved one of their leading drugs past the bench scale phase. Manufacturing of the drug is expected to launch at full scale as early as Q1 of 2022.
Their other pilot programs have also shown signs of success and the company is considering scaling them up as a result. For this reason, PSYBF announced that it expects to scale up procedures across PsyBio’s therapeutic candidate strains. If successful, these strains could be promising target candidates to transition to commercial manufacturing.
One of PSYBF’s most notable achievements has been its filing for a pre-Investigational New Drug (IND) application with the FDA as part of the regulatory submission process. This submission firmly shows PsyBio’s potential to be among the top biotechnology companies actually seeking regulatory approval for their psychoactive therapeutic candidates.
Investors will have the chance to see PsyBio in action at the upcoming KCSA Psychedelics Virtual Investor Conference on October 13th. At the conference, individual and institutional investors will have the chance to learn more about investment opportunities with biotech penny stocks such as PSYBF. Its worth noting that PSYBF’s CEO Evan Mark Levine and CFO Noah Isadore Davis are also lead management for Probility Media Corp. (OTC:PBYA). With this solid leadership structure, PSYBF is one of the biotech penny stocks worth watching in the months ahead.
Looks like the similarities between PBYA and PSYBF are a bullish sign for some investors @Auggie20010
Currently trading at $0.27, the stock hit its resistance line late last month at .3108. PSYBF has a primary support line at $0.2501 and a secondary support at .2265. The accumulation seems to be fluctuating, however it has been recently begun an upward trend. The MACD is currently bearish however it is nearing a bullish crossover. The RSI currently rests at 63.31.
Should You Buy?
This industry is quite volatile given its infancy and the limited deregulation of psilocybin. But investors are increasingly seeing opportunity for companies in this sphere as research continues to yield promising results. While currently the market is almost non-existent for FDA approved psychedelic drugs, PSYBF leading the way. Their recent announcement of commercial scale drug production, has definitely sparked investors’ interest and their attendance at the upcoming conference may give PSYBF a boost in share value.
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