Psychedelics have gone from a countercultural fad of the 1960s to mainstream medicine in the 2020s. Quite a few psychedelic pharmaceutical companies are developing drugs that follow the legal, regulatory pathway to approval. Hallucinogens, including psilocybin, are showing considerable promise in treating illnesses such as depression and schizophrenia.
Whether you call them magic mushroom stocks, 'shroom stocks, or psilocybin stocks, psychedelic stocks are hot right now. Let's explore five of the best publicly traded psychedelic companies on the market today.
Top psychedelic stocks to consider
Psychedelic stocks are simply healthcare stocks focused on the use of hallucinogens to treat diseases. Because the area is still fairly new, most of these companies have relatively low market capitalizations. However, many are growing rapidly.
Here are five of the top psychedelic stocks:
1. AtaiBeckley
NASDAQ: ATAI
Key Data Points
With prominent backing from venture capitalists, including billionaire Peter Thiel, it's unsurprising that AtaiBeckley (ATAI -3.14%)(formerly known as Atai Life Sciences) ranks as one of the biggest biotech stocks focused on psychedelic drugs. Founded in 2018, the company went public in June 2021. AtaiBeckley has also acquired or made significant strategic investments in several other psychedelic companies.
AtaiBeckley's pipeline features three programs in clinical testing. The company plans to advance BPL-003 into Phase 3 testing for treatment-resistant depression (TRD) after reporting positive Phase 2 results in November 2025. It expects to announce top-line results from a Phase 2 study of EMP-01 for the treatment of social anxiety disorder in the first quarter of 2026. AtaiBeckley also expects to announce top-line results from a Phase 2 study of VLS-01 for TRD in the second half of 2026.
The company's Perception Neuroscience unit teamed up with Japanese drugmaker Otsuka (OTC:OTSK.Y) to develop R-ketamine for treating depression. It's the first major collaboration between a psychedelic-focused biotech and a big pharma company. Atai is also a major shareholder in Compass Pathways, the next psychedelic drugmaker we'll look at in this list.
2. Compass Pathways
NASDAQ: CMPS
Key Data Points
3. Helus Pharma (formerly Cybin)
NASDAQ: HELP
Key Data Points
Founded in 2019, Cybin (HELP -9.55%) went public in 2020 on Canada's NEO Exchange through a reverse takeover of Clarmin Explorations. Its shares began trading on the NYSE American in August 2021.
In December 2025, the company rebranded itself as Helus Pharma. In conjunction with this name change, it transferred its U.S. stock listing to the Nasdaq stock exchange, effective on Jan. 5, 2026.
Helus Pharma's lead candidate is HLP003 (formerly known as CYB003), a deuterated version of psilocin, a psychedelic found in mushrooms. The company expects to report results from one phase 3 study of HLP003 as an adjunct treatment of major depressive disorder in the fourth quarter of 2026.
In addition, Helus' pipeline includes HLP004 (formerly known as CYB004), a deuterated version of dimethyltryptamine, a powerful hallucinogenic chemical found in plants and animals. The company is evaluating HLP004 in a Phase 2 study targeting generalized anxiety disorder, with results expected in the first quarter of 2026.
4. Definium Therapeutics (formerly Mind Medicine)
NASDAQ: DFTX
Key Data Points
5. GH Research
Benefits and risks of investing in psychedelic stocks
None of the five psychedelic drugmakers has approved therapies on the market yet. There is a risk that pipeline candidates will be unsuccessful in clinical testing. Even if the drugs prove safe and effective in clinical studies and win regulatory approvals, it's still possible they won't achieve commercial success.
Also, none of the companies has reached profitability yet. They might need to raise additional capital through stock offerings that dilute the value of existing shares.
On the other hand, there are reasons to be optimistic about the potential for psychedelic substances in treating various neurological and psychological disorders. It's still early days, but any or all of these leading pharmaceutical stocks could become big winners over the next few years.
Tips for investing in psychedelic stocks
If you want to invest in psychedelic stocks, consider taking these actions:
- Start with a small investment to reduce your risk.
- Make sure your portfolio is well diversified.
- Evaluate the psychedelic companies' financial positions.
- Research the psychedelic companies' pipelines.
- Stay abreast of regulatory changes that could impact psychedelic therapies.
How to invest in psychedelic stocks
Follow these steps to invest in psychedelic stocks:
- Open your brokerage app: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
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FAQ
Investing in psychedelic stocks: FAQ
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