The market for psychedelic drugs could be worth $10.8 billion by 2027, growing at an annual rate of 12.4% until then, according to ResearchAndMarkets.com. It's an exciting new sector to invest in, with many people comparing it to the early days of the cannabis industry, and Mind Medicine (NASDAQ: MNMD) is one investable company at the forefront.
The biotech, also known as MindMed, is in early stages of working on multiple drugs that could potentially hit the psychedelics market. But with no revenue, mounting losses, and a ton of risk, should investors take a chance on the stock?
Image source: Getty Images.
Source Fool.com