This Biotech Stock Was a Winner Last Night

Biotech startup Compass Pathways (NASDAQ: CMPS) got good news in the U.S. election last night when Oregon became the first state in the nation to legalize the use of psilocybin -- the active ingredient in psychedelic mushrooms -- as a therapeutic treatment in mental healthcare. 

Oregon Measure 109, named the Psilocybin Program Initiative, was approved with 56% of the vote, according to the Associated Press. Compass Pathways is in phase 2b of clinical trials for the use of psilocybin therapy to treat mental illness.

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Source Fool.com