Famed investor Michael Novogratz said psychedelics will be the next 'short-term bubble' after cannabis — and predicts Compass Pathways will go public this year
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"There's an awakening that these old drugs, these old plants, magic mushrooms or ayahuasca or the Iboga root from Africa have real positive medicinal qualities," Novogratz said. A spokesperson for Compass Pathways told Business Insider that "we are always looking at options to ensure continued growth and funding," but that the company doesn't comment on "speculation.
And Compass Pathways is being advised by Tom Insel, the former director of the National Institutes of Mental Health, and David Nutt, the former UK government drug czar, among others.
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