Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGW:FSE) announced in a news release it was added to the Horizons Psychedelic Stock Index Exchange Traded Fund, or PSYK.
"On February 1st, 2021, Algernon announced that it had established a clinical research program for the treatment of stroke focused on AP-188 (N,N-Dimethyltryptamine or DMT), a known psychedelic compound," Algernon CEO Christopher J. Moreau said in the release. "Being added to the PSYK is a reflection of the important work Algernon has undertaken with its DMT stroke research program and will help bring a further level of awareness to the company among a wide range of investors."
"PSYK (PSYK: NEO) is the world's first ETF (Exchange Traded Fund) offering direct exposure to North American publicly listed securities that have significant business activities in, or significant exposure to, the psychedelics industry," the company noted. The index underlying PSYK is the North American Psychedelic Stock Index, which rebalances its holdings every quarter.
Horizons ETFs Management (Canada) Inc. manages PSYK and 88 ETFs listed on major Canadian stock exchanges. In total, Horizons' ETFs have more than $17.5 billion of assets under management.
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