The final quarter of 2023 stands to be a critically important one for the medical psychedelics sector; companies such as Cybin (NYSE:CYBN) and MindMed (Nasdaq:MNMD) are poised to publish topline phase 2 trial results from their respective clinical trials for the treatment of depression and anxiety. Last month, hedge fund billionaire Steve Cohen's flagship Point72 Fund took an 8.1% stake in CYBN. Since the date that Point72 acquired its CYBN shares, CYBN's share price has doubled:
At Medical Gold, we believe that 2024 is set to be a turning point year for the medical psychedelics sectors. You can count on us to highlight the most attractive opportunities in this nascent biotech sub-sector. CYBN and MNMD are both on Medical Gold's Focus List and you can count on us to cover both of these companies closely over the coming months.
Stay tuned for our "Best Tax Loss Season Ideas List" due to be published in the next couple months.
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