Earlier, we shared the high-level results of our Q3’25 Psychedelic Investor Survey, our fourth such survey. Here, we take a closer look at investors’ qualitative responses to provide a better picture of their key areas of excitement. (We will explore key areas of concern in our third and final article detailing these survey results.)
In general, investor excitement continues to centre on new therapies and upcoming drug-development milestones. This year, however, the regulatory and legislative landscape has emerged as a prominent additional driver of interest, a marked change from last year when it registered almost no excitement and was instead a real cause for concern.
That shift appears tied in part to the new U.S. administration and the apparently favourable messaging that followed, and it aligns with an uptick in reform proposals from policymakers and regulators both in the U.S. and abroad.
Below, we take a deeper dive into each bucket, with the headings ordered broadly according to how salient they were among respondents.
Contents
- New and Effective Therapeutics
- Drug Development and Clinical Trial Results
- Regulatory & Legislative Changes
- Commercialisation and Related Needs
- Growing Acceptance
- Impact & Social Benefit
- Return on Investment
- Novel Discoveries & Fundamental Research
- Care Delivery
- Consolidation, Maturation
- Extra-Clinical Uses
***
New and Effective Therapeutics
Excitement around the potential development of new and effective therapies was again among the most prominent themes of this edition of the survey.
Many respondents cited things like the apparent efficacy of psychedelics, the potential for “better therapies”, and so on.
While some investors are presumably enticed by this prospect on a fundamental level, others likely view it as the basis of the class’ future commercial case. A few investors did make it clear that they are more compelled by the possible medical impact than investment returns, though. Several of those were retail investors, but this sentiment was also expressed by at least one family office.
Others pointed to specific conditions that they are hopeful psychedelics may help address, including postpartum depression, trauma-related conditions, anxiety disorders, and substance use disorders; as well as emerging therapeutic targets, including inflammation.
Some investors noted that this field has been historically under-invested in, which makes them more intrigued about what potential novel and effective therapies might be lurking within it…
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