Psychedelic Alpha Released Q1 2026 Psychedelic Drug Development Bullseye Charts

LOS ANGELES – Psychedelic Alpha, the data-focused research and analysis group that monitors the psychedelics sector, published its latest Bullseye Charts showing the state of drug development programs as of the first quarter of 2026.

The charts present the pipeline in two formats. One displays the full spectrum of candidates from discovery through potential approval. The second focuses on assets in Phase 2 and later stages, grouped by broad therapeutic indications like depression, anxiety, post-traumatic stress disorder, and substance use disorders. Concentric rings mark each development stage, with the center reserved for approved products.

The update reflects several corporate name changes that occurred in late 2025 and early 2026. MindMed became Definium Therapeutics and now trades under the ticker DFTX on Nasdaq. Cybin rebranded as Helus Pharma and trades as HELP. Josh Hardman, founder of Psychedelic Alpha, noted that the charts also captured a handful of new entries into Phase 2 testing and continued expansion in discovery and preclinical programs.

A companion interactive tracker on the Psychedelic Alpha website lists dozens of candidates.

Phase 3 programs include Compass Pathways’ COMP360 psilocybin for treatment-resistant depression (which reported positive topline data in mid-February). Definium’s DT120 LSD orally disintegrating tablet for generalized anxiety disorder and major depressive disorder, and programs involving MDMA and ketamine formulations. Phase 2 features candidates such as Beckley Psytech’s BPL-003, GH Research’s GH001, and various deuterated or novel analogs of psilocybin, DMT and MDMA. Early-stage work shows a mix of classic tryptamines, phenethylamines, ibogaine derivatives and non-hallucinogenic neuroplastogens aimed at neuroplasticity without the psychedelic experience.

The charts arrive as several companies prepare for additional late-stage readouts later in 2026. Rebrandings by Definium and Helus, both of which have shifted emphasis toward shorter-duration or non-psychedelic-adjacent molecules, signal a push toward commercial readiness and broader investor appeal. Growth in preclinical candidates points to sustained innovation even as regulatory and reimbursement questions persist for the field.

These quarterly visuals serve as a clear benchmark and illustrate steady progress in clinical pipelines alongside strategic corporate adjustments, without guaranteeing outcomes in a space where development timelines remain long and approval pathways continue to be defined. Investors and operators in mental-health therapeutics will find the charts a practical reference for assessing where resources are concentrated and which programs may shape the next wave of potential treatments.