Every year, nearly 10% of US adults are impacted by depressive illnesses, while 18% of those aged 18-54 wrestle with anxiety disorders. This mental health burden cost the US economy an estimated $236B in 2018, up 35% from 2010. In response, states like Oregon and California have weighed how to decriminalize psychedelics. But even without clear regulations, research continues to advance.

• Last week, Mind MedicineMNMD
  received FDA breakthrough status for MM120, an LSD treatment for generalized anxiety disorder.
• The study found that a single dose of MM120 improved generalized anxiety disorder for 65% of patients within 12 weeks — and phase three trials are expected to begin in the second half of 2024.

Business of microdosing: Millions of people already microdose psychedelics to expand their minds and open themselves up to new ideas — and that’s caught the attention of Wall Street. Psilocybin use has become increasingly popular among executive coaches, who use it to optimize financial sector employees’ performance. Last year, billionaire investor Steve Cohen bought an 8.1% stake in psychedelics company CybinCYBN

. However, there are some drawbacks: psychedelic use came with a surge in hospital visits — increasing by 54% between 2016 and 2022.