Key Takeaways; Cannabis Sector

• Canopy Growth Refreshed Tweed Brand with Summer Campaign Push
• High Tide Announced Proactive Steps to Investigate and Address Suspected Share Trading Irregularities

Key Takeaways; Psychedelic Sector

• Compass Pathways Surged as Regulatory Momentum and Strategic Moves Accelerate Psychedelic Push
• Psyence BioMed Soared on Ibogaine Momentum and Clinical Progress
• Clearmind is Advancing its Alcohol Use Disorder Drug as Trial Showed Strong Safety Results

Psychedelic-related stocks posted notable gains this week following a landmark policy move from U.S. President Donald Trump, who signed an Executive Order aimed at accelerating research and expanding access to psychedelic-assisted therapies for serious mental health conditions. The announcement was widely welcomed across the sector, with many companies applauding the decision as a meaningful step toward legitimizing and scaling innovative treatment approaches.

Momentum strengthened further after the U.S. Food and Drug Administration (FDA) signaled an accelerated regulatory path, announcing that it will offer ultra-fast review mechanisms for select psychedelic therapies targeting conditions such as depression and PTSD.

Below is a weekly roundup of what happened this week in the cannabis and psychedelic sectors. In this ever-evolving landscape, we explore the major developments and groundbreaking initiatives happening among companies operating in these industries; from advancements in medical research, therapeutic applications to shifts in legal frameworks and current market trends.

Top Psychedelic Companies for Week

#1: Compass Pathways

One of the biggest gainers, riding this week’s policy-driven momentum, was Compass Pathways plc (NASDAQ: CMPS), with its stock rallying more than 25% as a series of major developments positioned the company at the forefront of the emerging psychedelic therapeutics market.

Compass Pathways’ biggest development came after the company announced that it had been granted a rolling New Drug Application (NDA) review by the FDA for COMP360, which is its proprietary synthetic psilocybin therapy for treatment-resistant depression (TRD). Compass also announced that it was awarded a Commissioner’s National Priority Voucher (CNPV), a designation that could significantly shorten the regulatory review timeline.

The company’s CEO, Kabir Nath, described the milestone as both validation and urgency: “We are honored and grateful to be selected for the CNPV which is a clear validation of both the urgent unmet need facing millions of people living with treatment resistant depression and the innovative science of COMP360.” He added that while the voucher may accelerate timelines, the company remains confident it meets the FDA’s “rigorous standards of clinical evidence, scientific rigor, and regulatory compliance.”

At the same time, Compass is preparing for commercialization. Earlier in the week, the company announced a strategic collaboration with Osmind, which operates a network of over 1,000 psychiatry clinics across the U.S. According to the company, the partnership aims to understand how independent clinics can safely and effectively deliver psychedelic therapies if approved.

Dr. Steve Levine, Chief Patient Officer at Compass, emphasized the importance of real-world readiness: “A core focus for Compass is to ensure that COMP360 can be delivered responsibly, safely, and effectively in the real-world settings where patients receive care.” He added that the collaboration is expected to help shape scalable, patient-centered treatment models across community-based practices. “Through this collaboration, we will support Osmind and their network to prepare for the potential delivery of psychedelic treatments, learning alongside them to better understand the needs of independent practices.”

These developments come against the backdrop of a major policy shift from the White House. Compass publicly welcomed the recent Executive Order aimed at accelerating research and access to psychedelic therapies for serious mental illness. Kabir Nath noted that the move “aligns regulatory urgency with patient need” and could help fast-track access to innovative treatments without compromising scientific standards.

With an estimated four million Americans living with treatment-resistant depression and limited effective options available, Compass believes it is well positioned to lead a new paradigm in mental health care. As Nath put it, “should COMP360 be approved, we will be ready to make this treatment available to patients.”

#2: Psyence BioMed

Psyence Biomedical Ltd. (NASDAQ: PBM) emerged as one of the standout performers this week, with its stock surging from the $2.70 range to a high of $16.90, driven by a combination of clinical milestones, strategic positioning, and favorable regulatory signals around psychedelic therapies; particularly ibogaine.

A key catalyst came from the company’s announcement that it had initiated patient dosing in its Phase IIb clinical trial evaluating NPX-5, which is a nature-derived psilocybin therapy, for adjustment disorder in cancer patients receiving palliative care. According to the company, the study marked the first large-scale clinical evaluation of its lead psilocybin candidate across multiple sites in Australia.

Psyence BioMed CEO, Jody Aufrichtig, emphasized the importance of the milestone, stating: “Initiating patient dosing is an important step forward for our clinical program and, more importantly, for the patients we aim to support.” He added that the trial is designed to better understand both the safety and therapeutic potential of psilocybin in individuals facing “significant emotional distress alongside serious illness.”

Beyond clinical progress, Psyence also strengthened its strategic position in the rapidly emerging ibogaine market. In another development, the company highlighted that, through its partnership with PsyLabs, it is now effectively positioned as the world’s only supplier of pharmaceutical-grade, GMP-compliant ibogaine at source, which is an increasingly critical advantage as global demand for standardized supply grows.

“With limited GMP-grade ibogaine available globally, infrastructure and supply capabilities are the differentiator,” Aufrichtig said. “Our Company is positioned not only to support our own programs, but to enable the broader ecosystem as interest in ibogaine continues to grow.”

In another press release, Psyence BioMed also welcomed recent U.S. policy momentum aimed at expanding research into psychedelic compounds, including ibogaine. Aufrichtig noted that the compound is gaining recognition for its potential to treat “complex and treatment-resistant conditions,” adding that Psyence supports “structured, evidence-based research” to establish its clinical role.

This regulatory backdrop gained further traction after the FDA signaled increased focus on psychedelic therapies, including allowing early-stage research into ibogaine derivatives and prioritizing innovative mental health treatments. The agency’s stance reinforced investor confidence across companies with exposure to ibogaine-based development with Psyence at the forefront.

With a vertically integrated platform spanning ethical sourcing in Africa, GMP manufacturing, and clinical development, Psyence BioMed believes it is positioning itself as a critical infrastructure player in the psychedelic supply chain. The company also confirmed it holds ready-to-deploy inventory of pharmaceutical-grade ibogaine, enabling near-term support for research and development programs.

#3: Clearmind Medicine

Clearmind Medicine delivered a week of meaningful progress, highlighted by positive clinical data amid supportive regulatory momentum that continues to lift the broader psychedelic therapeutics space.

The company announced that its lead candidate, CMND-100, successfully met the primary endpoint in its Phase I/IIa clinical trial for alcohol use disorder (AUD). According to Clearmind, the proprietary, non-hallucinogenic MEAI-based oral treatment demonstrated a strong safety and tolerability profile, including at higher doses, with no serious adverse events reported.

The results marked an important milestone for the company as it advances a differentiated approach within the psychedelic field; targeting neuroplasticity without inducing hallucinogenic effects. The ongoing trial, which was conducted across multiple international sites, is designed to evaluate safety, pharmacokinetics, and early efficacy signals in patients with moderate to severe AUD.

Alongside its clinical progress, Clearmind also aligned itself with this week’s growing wave of regulatory support for psychedelic innovation. In a press release, the company welcomed the recent Executive Order from U.S. President Donald Trump aimed at accelerating research and access to novel mental health treatments.

Clearmind, CEO, Adi Zuloff-Shani emphasized the significance of the policy shift, stating: “We are pleased to see psychedelic medicines, gaining increasing mainstream recognition and regulatory momentum as promising solutions for serious mental health conditions.” She added that the move reflects “the urgent need to remove unnecessary barriers and deliver innovative treatments,” particularly for conditions such as PTSD, depression, and alcohol use disorder.

Moreover, Clearmind believes the evolving regulatory environment aligns closely with its strategy of developing scalable, non-hallucinogenic therapies. Zuloff-Shani noted the company remains “deeply committed to rigorous, science-driven development of our lead candidate CMND-100 and our broader pipeline of psychedelic non-hallucinogenic neuroplastogens” and aims to bring new treatment options to patients “swiftly, safely, and responsibly.”

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Bottom of Form

Top Marijuana Companies for the Week

#1: Canopy Growth

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) unveiled a significant refresh of its flagship Tweed brand, pairing updated product packaging with a nationwide summer campaign titled “There’s a Tweed for That.” According to Canopy Growth, the initiative is set to launch over the Victoria Day long weekend, aligning with the unofficial start of the Canadian summer.

At the core of the refresh is a shift toward transparency and accessibility. Canopy Growth announced that the Tweed’s cannabis flower products will now feature new “window bags,” allowing consumers to see the product before purchase, addressing a longstanding gap in the category. The company reported that it has also introduced improved potency levels and more competitive pricing across the lineup, aiming to better match consumer expectations.

Canopy Growth Chief Executive Officer, Luc Mongeau, emphasized the company’s consumer-first approach, stating: “From how we grow to how it arrives on shelf, Tweed has been rebuilt around what consumers and budtenders told us they wanted. This is disciplined, consumer-led execution. It’s how brands build equity, and how they win.”

Additionally, the company stated that the summer campaign will highlight an expanded portfolio, including three new strains; Tropical Gelato Slushie, Citrus Candy Cake, and GMO Jet Fuel, alongside existing offerings like Quickies pre-rolls. Moreover, the broader Tweed range spans whole and milled flower, vapes, and softgels, with an additional milled product format expected later in 2026.

This move reflects Canopy Growth’s ongoing effort to strengthen its position in Canada’s competitive cannabis market by focusing on product clarity, brand trust, and consumer-driven innovation.

#2: High Tide

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) announced proactive steps to investigate potential irregularities in the trading of its common shares, responding to growing concerns raised across online investor forums and communities.

The company confirmed that its board of directors and senior management have been closely monitoring trading activity, particularly around earnings release periods. According to the company, despite consistently strong financial performance, often exceeding analysts’ expectations, High Tide noted a recurring pattern in which its share price declines during regular trading sessions following positive after-hours reactions.

Addressing the situation directly, the company stated: “The Company takes these concerns seriously,” adding that it has “reasonable grounds to believe that certain trading activity in its shares may not reflect normal market forces, and that certain conduct may be contrary to applicable securities laws in Canada and the United States.”

In response, High Tide plans to engage independent forensic investigators and market specialists to conduct a detailed review of trading patterns. The company stated that investigation will focus on activity surrounding key disclosure events, including earnings releases, with findings to be shared with regulators in both Canada and the United States. Moreover, the company committed to full cooperation with any resulting inquiries.

Finally, management highlighted its intent to safeguard shareholder interests and uphold market integrity, stating its commitment to ensuring “a fair, transparent, and efficient” trading environment. As part of this effort, High Tide is also inviting shareholders and market participants to submit any relevant information regarding unusual trading activity, assuring that all communications will be handled confidentially.