A Note from the Editor

As expected, 2026 is off to a busy start, with the first full week of the new year delivering no shortage of headlines.

On the drug development front, FDA finally accepted GH Research’s inhaled 5-MeO-DMT Investigational New Drug (IND) application after placing it on hold for more than two years, clearing the way for a Phase 3 program that the company hopes to launch this year. AtaiBeckley, meanwhile, expects to launch its own Phase 3 5-MeO-DMT program in Q2, with its intranasal formulation. Both companies are targeting treatment-resistant depression.

FDA also accepted an IND from Compass Pathways, allowing it to progress with a Phase 2b/3 program studying its psilocybin candidate in PTSD. It hopes to begin screening patients in the coming months.

Elsewhere, Cybin officially rebranded to Helus Pharma and listed on the Nasdaq this week, ringing the bell on Monday morning. And Gilgamesh Pharma printed positive topline data from a Phase 2a study of its NMDA receptor antagonist, GM-1020, in major depressive disorder. It’s another win for the company, which sold its lead candidate, bretisilocin, to AbbVie last year in a deal valued at up to $1.2bn.

Here on Psychedelic Alpha, we discussed all of these updates, and much more, in our first Bulletin of 2026. As a reminder, our flagship Psychedelic Bulletins provide one-stop coverage of developments across the psychedelics field. Published multiple times a month, they synthesise news, data, and analysis into a coherent picture of how the field is evolving, helping readers maintain continuity and perspective over time. They’re exclusively for Pα+ members: subscribe today.

We also shared the third and final session from our 2025 Year in Review video series, where I walk you through what happened in 2025 and where the field stands today; what we might expect to see in 2026; and, some potential futures and broader open questions the field faces. Pα+ subscribers can now watch all of the videos in the series.

Below, you will find your Psychedelic News Feed, a one-stop digest for the latest coverage of psychedelics business, policy, research and beyond.

Josh Hardman
Founder & Editor