Revive Therapeutics (RVV.C) and 17 other companies in the United States and Canada joined the first psychedelic exchange-traded fund, managed by Horizons ETF management today, according to a press release.
The Horizons Psychedelic Stock Index ETF index will begin trading on Tuesday, January 26, under the ticker symbol PSYK on the NEO exchange.
“We are pleased to be included in the First Psychedelics ETF and being recognized as a leading company in the field of psychedelic pharmaceuticals. We are advancing novel psilocybin-based therapeutics using a proprietary oral thin film delivery technology and a natural biosynthesis enzymatic platform to support clinical research in mental health and substance abuse disorders,” said Michael Frank, CEO of Revive.
Revive is involved in finding therapeutic solutions for rare disorders and infectious diseases. It’s been in building its psychedelics pipeline with a focus on psilocybin based therapeutics using an oral thin film product in collaboration with the University of Wisconsin-Madison. Their present am is to take advantage of several regulatory incentives put forth by the U.S. Food and Drug Administration, including Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. At present, the company is heavily involved in trials involving the use of Bucillamine as a potential treatment for infectious diseases, chief among them COVID-19.
Revive is up 10% on the news, and making a strong showing at $.60.
—Joseph Morton
Full disclosure: Revive Therapeutics is an equity guru marketing client.
