I’ve by no means seen an OTC inventory promoted a lot right here, particularly since this sub has a no OTC inventory rule!

It has been talked about on FOUR THREADS previously 24 hours (there’s additionally a put up by me asking whether or not or not it was legit):

One

Two

Three, it is mentioned twice actually

Four

The plain response is how they applied for NASDAQ in September and now they’ve hit the requirements to they’ll be listed soon. To be trustworthy with you, I don’t know what the itemizing course of is for NASDAQ and it appears like they’ve hit it from what I see.

There was additionally a variety of buzz final month since they’d a successful pre-IND meeting with the FDA about Project Lucy, an LSD assisted therapy for adults with anxiety.. They’ll have a gathering in August with the FDA on whether or not to maneuver ahead with the challenge.

In the identical put up you may see they’ve a gathering deliberate with the FDA about Mission Layla, an habit therapy program evaluating one thing known as 18-MC, though the date will not be listed.

They had been funded by one of many founders of Cover Development Prescribed drugs (20 billion greenback weed firm) who can also be on the Board of Administrators. I imply the staff appears fairly legit, however I am unable to inform if each biotech ‘Our Group’ web page is pumped up ha ha.

One other ‘meme’ is how they’ve Kevin O’Leary (Shark Tank) on Board. I truly used to essentially look as much as him (I learn all his of his books once I was youthful) however then there was a ‘Kevin O’Leary occasion’ marketed in my space. I seemed into it, and I noticed this post outlining the scam.

Considerations

  1. Proper now the corporate is price 1 billion {dollars}, and aside from the 100 million in money (75 million of which got here from choices through the current run up), do you suppose the valuation is justified for a corporation with two medicine – one in Part 1 and one other that can begin Part 2b in August? This firm was 1/10 of the valuation only a few months in the past! The markets are clearly large, but when Mission Lucy (in 2b) is actually remedy with LSD, why cannot that be replicated? As I perceive their Mission Layla is extra prone to be patented, however that’s nonetheless in Part 1. Is an enormous half how forward they’re in comparison with the competitors (however they had been solely based in 2019)?

  2. The large ‘catalyst’ is them listed on NASDAQ. In any other case, there actually is not something to be enthusiastic about till August, which is once they solely begin their 2b trials (if accepted) – so it might be a 12 months for extra data.

  3. Smaller side, however why is their HQ a virtual office you can rent out? – their Contact Us additionally lists different areas, but does not have an address for them?

I am truly actually considering investing and discover the area intriguing – are my issues overblown? Since it’s being promoted a lot I determine we must see whether it is legit, and if not, ban the ticker.

Pronews
Author: Pronews