Mydecine Innovations Group (OTC: MYCOF), the psychedelics biotech company headquartered in Denver, Colorado with international offices in the Netherlands, reported its financial results and business highlights for the three and nine months ended September 30, 2022.
The Benzinga Psychedelics Advisory Council was introduced in March of 2022 with the sustained goal of better informing investors and general audience about the psychedelics financial and business landscape.
The board of directors of Mydecine Innovations Group Inc. (OTCPK:MYCOF) voted in favor of completing a reverse stock split. With this action, the company will consolidate all issued and outstanding shares on a base of 1-for-50.
According to Mydecine, the consolidation is expected to reduce the number of common shares from 268,515,954 to 5,370,319.
The first Benzinga Psychedelics Capital Conference, the premier gathering of psychedelics industry leaders and forward-thinking investors, is coming to the Fontainebleau Miami Beach on April 19, 2022, in Miami, Florida.
Psilocybin is known as the active compound in so-called “magic mushrooms”, yet most psilocybin used in clinical trials today is synthesized in laboratories without the use of biological material.
As psychedelics-assisted therapy gains momentum, investors need to understand the difference between the current available means of obtaining psilocybin.