psilocybintherapycompasscomp

Is Psilocybin Really a Miracle Drug? Compass Pathways Releases Phase 2B Trial Results

Something strange happened yesterday. Psychedelics unicorn Compass Pathways released data for the largest clinical trial ever conducted of a psilocybin drug. Not only did the drug seem to work, but the heavily anticipated data were “breathtaking” in the words of Compass’ CEO. Immediately, the company’s publicly traded shares dropped 16%. Including the day prior, it

psilocybin controlled substances act reschedule

A Strategy for Rescheduling Psilocybin

Public and scientific interest in psychedelics such as psilocybin and MDMA is expanding. Once off-limits because of federal prohibition, a trickle of research from the 1990s has grown into a stream. But despite increasing acceptance by the public, and commercial investment in psychedelic therapies, aging federal laws stem the flow of vital research. Psilocybin, a

ketamine industry cannabis

The Ketamine Industry is Nothing Like Cannabis

You are an experienced cannabis operator. You have dealt with nonsensical regulations. You’ve navigated the world of dealing with a highly regulated substance. You’ve solicited large investments and beat out your competitors. You’ve learned enough about corporate governance and tax to go toe to toe with the best. Think you can easily pivot to the

ketamine clinic stark law

Ketamine Clinics and the Stark Law – Part I

The Physician Self-Referral Law, commonly referred to as the Stark law (42 U.S.C. § 1395nn), is one of several federal fraud and abuse laws. We have previously written about the federal anti-kickback statute (“AKS”) (click here to review). While the two laws may seem similar at first, they have very different rules and penalties. The

stock market public company psychedelics

Psychedelics, Cannabis and the Stock Exchanges

Last week, I came across an article surveying the 50 (!) psychedelics companies that are now publicly traded on U.S. exchanges— a handful of which we are proud to call our clients. Of these, 41 are listed on over the counter (OTC) markets, while the remaining nine outfits are traded on either the Nasdaq or

ketamine clinic joint venture aks hhs audit

Ketamine Clinics and Joint Ventures: The Office of Inspector’s Concerns

As the economy continues to flourish, there is a proliferation of merger and acquisition activity in the healthcare space. We continue to see a rise in ketamine clinic acquisitions as well as investors who are starting management services organizations (“MSO”) to assist such clinics with their administrative burden. Likewise, we have seen an increase in

seattle washington decriminalization psychedelics

BREAKING: City of Seattle Decriminalizes Psychedelics

In a continuing trend across the country whereby cities are taking steps to decriminalize the possession of certain amounts of all kinds of psychedelics, Seattle joined the herd this week by voting to formalize the non-prosecution of the possession of certain entheogens, commonly known as psychedelics. We were especially gratified to see the results of

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California Psychedelic Law Updates

It’s been a while since I provided an update on the state of California psychedelics law, but there have been a few important updates in the last few weeks, so it’s now that time. Before jumping in, I’ll remind readers that currently, all psychedelics are illegal under federal law unless a person has received an

ketamine washington mso corporate practice of medicine

Washington State’s Corporate Practice of Medicine Doctrine: A Minefield for Ketamine Management Services Organizations

Many ketamine clinics enter into management agreements with management services organizations (“MSO”). The MSO provides a litany of services to the professional entities (“PE”) that are owned by healthcare providers, including billing and collections, financial and accounting services, providing space to the clinic through a lease, strategic planning, marketing, and many other types of management