‘We’re in the shakeout stage’: The psychedelics boom in healthcare has lost its buzz as some companies struggle to make payroll
Psychedelics companies aren’t living up to the hype, and are starting to consolidate as a flood of money into companies seeking to win regulatory approval of drugs like LSD, psilocybin and ayahuasca dries up… the disconnect between… federal… lobbying visions and reality in psychedelics has once-high-flying companies now on the verge of failing to make payroll…
…investments in the industry ramped up from just $62 million in 2019 to $617 million in 2020, and $1.6 billion in 2021 – and then faded to just $570 million [in 2022]… many companies will go bankrupt, and while some will merge with other distressed companies or form joint ventures, only those with strong IP will survive… around half the companies that have gone public since 2019 are in the process of selling intellectual property or shutting down, and expects investments in the industry this year [2023] of around $400 million to $500 million – potentially even lower than in 2022.
Original Article (Fortune):
‘We’re in the shakeout stage’: The psychedelics boom in healthcare has lost its buzz as some companies struggle to make payroll
Artwork Fair Use: Public domain
Recent Comments