Are you looking for a list of psychedelic stocks? Remember the psychedelic stock surge between December 2020 and June 2021? Some “mushroom” and other psychedelic public companies went public and saw great success in their early days on the stock market. One of the companies considered among the leaders, Mind Medicine, was even called the Tesla of Mushroom stocks.
Since then, how much has happened in Canada, the US, and around the globe? No approved treatments are yet on the market, but many companies are working on releasing something by the end of this year or sometime next year.
Delays are common in this industry, which makes investors restless.
Best Psychedelic Stocks 2026
Psychedelic stocks are companies that have the potential to have a life-changing impact on people. There has been a lot of debate on how psychedelics can have a better impact on a person than lab-created drugs. But we all know that Big Pharma is big business. Oregon was the first state to begin legalizing some psychedelics.
If research shows that it has a better track record of helping illnesses like depression, anxiety, and pain, we could see a shift in the narrative. As a result, this is something to keep an eye on!
Psychedelic Stocks List
Below is a list of psychedelic stocks to keep on your watchlist! As the worldview changes, we can see more acceptance of an industry that was once maligned.
We even had an Aaron Rodgers documentary drop on Netflix, in which he went on an ayahuasca journey to decide whether or not to retire from the NFL. And he wasn’t punished by the NFL for that, either.
Atai Life Sciences (NASDAQ: ATAI)
First on our list of psychedelic stocks is Atai. A billionaire investor backs Atai and has 18 affiliated companies. They all share the same resources. Together, they are trying to develop drugs such as ketamine, psilocybin, and others to treat depression and schizophrenia.
Atai and other companies are attempting to move on from the use of antidepressants. It is a serious issue worldwide, and finding better treatments is a top priority for these companies.
One of its major partnerships is with Compass Pathways. They have a 22.5% stake in the Phase 2 drug. I won’t get into the molecular and scientific specifics, but it is a well-funded research project with promising results. Overall, Atai is well-funded and looks to be successful, hopefully sometime this decade.
Compass Pathways (NASDAQ: CMPS)
Compass Pathways has been around for slightly longer than its business partner. It evolved into a leading biotech to treat anxiety, PTSD, and other mental illnesses. It’s the only candidate, COMP360, that uses psilocybin and is currently in Phase 2. They have been awarded two patents, which marked a significant victory for Compass.
Compass also has ongoing research with MDMA and ecstasy to treat other mental illnesses. Unfortunately, that isn’t enough to keep investors on board. The company needs to add more to its pipeline until a breakthrough and FDA approval can take YEARS. The only way is through more research and partnerships. Compass recently appointed a new CEO, Kabir Nath, to shake things up.
The previous CEO will remain as chairman until the end of the year. This isn’t the only company with top-level management changes in the last 24 months. Therefore, keep them on your psychedelic stocks list.
Cybin Inc (NYSEMKT: CYBN)
Cybin is developing a variety of treatments using psilocybin, DMT, and other drugs to treat major depressive disorder (MDD), anxiety, and addiction. It recently acquired from Entheon Biomedical Corp the largest Phase 1 study using DMT—Cybin, which has a few studies in Phase 2.
Cybin was awarded the first study using psilocybin (CYB003) on volunteers. It will still take years to have a drug on the market that is ready to compete against big pharma products. They were given an FDA Breakthrough Designation. This should be number one on your psychedelic stocks list.
Field Trip Health (NASDAQ: FTRP)
There isn’t anything unique about Field Trip Health other than its facility in Jamaica. It’s the world’s first legal research facility for psilocybin and plant-based psychedelics. Apart from that, FTRP is developing FT-104 in Australia, but it is still in Phase 1.
It is similar to psilocybin but more efficient. Field Trip is still far from profitability or any real drug candidates. You may not care to keep this on your psychedelic stocks list.
Mind Medicine (NASDAQ: MNMD)
Back to more serious companies. Mind Medicine was the first company to conduct an IPO in this field, and it has a much more interesting pipeline. Its leading program is Project Lucy.
It used LSD in a Phase 2a study to treat anxiety. MindMed also has early-stage drugs for ADHD, addiction withdrawal, and chronic pain with the help of LSD and ibogaine.
MindMed is also cooperating with a Swiss and Dutch hospital to research the effects of other psychedelic drugs on various mental health diseases. Research & development are key components of this industry.
It takes money to make money, and all this research is expensive. MindMed’s key partners will help it develop drugs in its pipeline and get them approved by the FDA.
Numinus Wellness (OTC: NUMI)
Numinus is the last stock on our list. It is the oldest stock on this list, dating back to 1964. The company is focused on providing mental healthcare treatment. It has five clinics (Montreal, Vancouver, Toronto, Arizona, and Utah) to help patients with a holistic mindset.
Numinus is also developing various treatments with the help of cannabis and psychedelic drugs (psilocybin and MDMA). Those studies are funded by the Multidisciplinary Association of Psychedelic Studies (MAPS), a non-profit organization aimed at developing psychedelic substances.
Numinus’s drugs have barely reached Phase 1. However, the company acquired Mindspace Wellbeing in 2021 and, more recently, Novamind in June 2022, making it a more diversified stock. They operate clinics and well-being spaces and develop cannabis and psychedelic treatments.
Horizons PSYK ETF (NYSEARCA: PSYK)
We conclude this section with an ETF. This is for investors looking for a more diversified approach without the headache of picking individual stocks and betting on which one will have a successful drug out first. PSYK follows companies researching psychedelics and neurology treatments.
Among its top 10 holdings, Compass Pathways is the only one mentioned in today’s article. This fund includes many pharmaceutical and gene-editing companies, including MindMed and ATAI.
For investors who are looking for an ETF that includes the majority of the stocks mentioned in this article, PSIL is the one you’re looking for. 40% of its portfolio is invested in Compass, Cybin, Atai, and MindMed. It is very different from PSYK’s holdings.
PSIL ETF Performance (2026 YTD)
| Year | Performance | 2026 (YTD) | -12.6% |
|---|---|
| 2025 | +9.8% |
| 2024 | -28.4% |
| 2023 | -18.7% |
| 2022 | -61.5% |
Final Thoughts: Psychedelic Stocks
To conclude, many psychedelic stocks joined the stock market ranks. They initially made a big splash, but that puddle is now very dry. Many investors love the idea of treating mental disorders with much less addictive substances than what Big Pharma is suggesting.
However, it’s not that simple. It can take years or even decades to get drugs approved by the FDA and be released on the market. Many investors got fooled and bought in way too early. This industry is full of hopeful bagholders, but there is always hope. This is a very interesting industry that has yet to begin growing, which makes trading very difficult. Please do not buy any of the securities on this Psychedelic stocks list unless you know how to trade.
Frequently Asked Questions
Cybin is currently the best psychedelic stock on the market.
Analysts expected a valuation of over $603 million.
Oregon is the first state to decriminalize psychedelics for therapeutic use.
