Welcome to Psychedelic Alpha.

Independent data-driven reporting, analysis and commentary on the psychedelics space: from business and drug development through to policy reform and culture.

Plus incubation, consultancy, and advisory for this emerging field. 

Insights, Delivered

Join thousands of psychedelic insiders…

For in-depth analysis and insights, consider our premium offering…

Our data and insights are cited in…

Data

Open access data on psychedelic policy reform, patents and drug development activity.

Support

Consultancy, advisory and incubation  offerings for investors, entrepreneurs, and beyond.

Our data and insights are cited in…

Our latest insights

Reunion Neuroscience Posts Strong Phase 2 Results for RE104 in Postpartum Depression

This morning, Reunion Neuroscience posted positive topline results from its Phase 2 study of RE104, its 4-OH-DiPT prodrug, in postpartum depression (PPD). We spoke with Reunion leadership to dig deeper into safety and efficacy data, the trial’s design and protocol, as well as the company’s plans for future development of the candidate in PPD and beyond.

One Year After FDA’s MDMA Rejection: Insiders and Observers Reflect

One year after FDA’s rejection of Lykos Therapeutics’ MDMA-assisted therapy for PTSD application, insiders and observers reflect on what went wrong and what comes next. This in-depth, interview-led coverage explores the decisive factors behind the CRL, lessons learned, and the future of psychedelic drug development.

From Huxley to Heffter: Mark Geyer Reflects on a Life in Psychedelic Research

Dr. Alaina Jaster speaks with Dr. Mark Geyer in a discussion that traces his path to psychedelics research, the field’s scientific and cultural shifts, and the role of the Heffter Research Institute. He also reflects on therapeutic models, potential risks of backlash, and the importance
of education in expanding access.

Subscribe to Pα+

Pα+ subscribers receive regular Bulletins, articles, interviews with insiders and quick-take analysis of major stories and developments (e.g., significant trial results, financing rounds, policy reforms, etc.); along with access to our back catalogue and Library.

We Support

INCUBATION & GROWTH

Entrepreneurs and Startups

Whether you’re at the idea-formation stage or raising early-stage funding, we’re here to help across the entire psychedelic value chain and company life-cycle.

ADVISORY & CONSULTANCY

Investors and Corporates

We help investors and corporates of all stripes understand and support the psychedelics space: from syndicates and VCs through to institutions.

INSIGHTS & ANALYSIS

Psychedelic Insiders and the Curious

Join our newsletter to stay abreast of the rapidly emergent psychedelics industry: from clinical trials and patents through to healing centres and decriminalisation.

The Psychedelic Renaissance

After a half-century of prohibition, psychedelics are once again entering the mainstream.

Today’s so-called “psychedelic renaissance” is represented by a seemingly exponential increase in research and development activity, billions of dollars of funding, psychedelic policy reform initiatives and successes across the world, and changing public perceptions.

Clinical Trials

Psychedelic Clinical Trials Started

Clinical trials involving psychedelics started, per year

 Phase 3 studies of several psychedelics are underway.

$5+ billion

Invested in public and private psychedelic companies since 2020.

Psychedelic policy reforms are gaining pace at the federal, state and local level in the U.S. and internationally.

80.9%

of psychiatrists agreed that psychedelics show promise in treating psychiatric disorders.

Barnett et al., 2023

On “Alpha”

‘Alpha’, in the investing world, refers to an excess return on investment relative to a benchmark. But we broaden the definition of alpha on both ends to include more than just economic returns on more than just economic investments.

Instead, we conceptualise alpha as the excess return on myriad investments that people may make in the present and future of psychedelics: beyond economic capital, people might invest time, energy, and effort, for example. And that excess return might not be (purely) financial, it might also be realised through a more impactful treatment paradigm for mental health, for example, where the ‘benchmark’ is the inadequate status quo.

All this to say, we’re not only for investors. In fact, most of our readers aren’t: many of them are practitioners, regulators, entrepreneurs, and so on.