Psyched Wellness (PSYC.C) released the results and data from the three month oral toxicity preclinical trial on its amanita muscaria mushroom (AME-1) extract today, and enjoyed a substantial 19% bump in their price as a result.

The study was the third set of a group of preclinical assessments on their AME-1 to figure out the toxicity potential for the extract when given daily over a 90 days period.

“This is the final step in the toxicological assessment of AME-1 that will form the foundation for the effective safe dose for human consumption and provides the necessary information for any future clinical studies,” said Brian Tancowny, scientific advisor for Psyched Wellness. “With no adverse effect reported over the period, the study results reinforce our earlier findings about AME-1’s safety and allows continued development of our products for human consumption.”

If you’re not aware, Psyched Wellness is a Canadian-based health supplements company working on mushroom-derived products and associated consumer packaged goods. They want to create mushroom-based products they can build into a huge North American brand in the functional food market. They’re busy working on developing a line of water-based extracts, teas and capsules based on the Amanita muscaria mushroom to help with stress, relaxation and help people sleep.

Here’s a summary of the key findings:

• No adverse clinical signs of toxicity and neither mortality nor morbidity observed in both genders for vehicle and test item treated animals during the study period.
• No treatment-related adverse effects on body weight and normal body weight gain were observed in all the treatment groups of both genders in comparison with the vehicle control groups during the study period.
• No treatment-related adverse effects on feed consumption were observed in all the treatment groups of both genders in comparison with the vehicle control groups during the study period.
• No treatment-related adverse effects on hematology parameters, coagulation, clinical chemistry, gross necropsy, and organ weights. All parameters studied were found to be normal during the duration of the study period.
• No observed adverse event level occurred. This significant set of information obtained has resulted in the determination of the NOAEL and thus identified the safe effective dose for human consumption.

Let’s have a look at the chart.

The price dip isn’t particularly surprising given the overall general trajectory of the psychedelics space over the past few months, but there’s good news for today. Right now, they’re up 19% and presently trading at $0.125.

—Joseph Morton