A quarterly competitive intelligence briefing for developer strategy teams, with a complete Anxiety / GAD sample section and selected market signals.
Q2 2026 Psychedelic Drug Development Competitive Intelligence Briefing · Prepared for Drug developer BD and strategy teams · Public preview
+13
Papers added · Anxiety Disorders
The largest quarterly paper delta of the 2 indications in this edition.
2 indications · Q2 2026
The GAD readout window is about to open. Definium’s Voyage trial (around 80 per cent enrolled at the company’s last update, in February) guides to topline data early in Q3 2026 with Panorama behind it, Reunion’s RECLAIM began recruiting in April, and Seaport reported positive Phase 1 data through June with a Phase 2a planned for the second half of the year. Depression remains the most crowded indication we track (42 developers, 309 linked trials), but anxiety is where the next twelve months get decided.
Indication areas
7
Count of linked enterprise indication snapshots in this briefing.
headline metric
Indication areas
The briefing covers 7 indication areas.
Generated from the current linked snapshot set for this briefing.
Developer signals
154
+2vs previous quarter
Sum of unique developer counts across linked snapshots.
headline metric
Developer signals
The briefing aggregates 154 developer signals across linked snapshots.
Generated from the current linked snapshot set for this briefing.
headline metric
Developer signals
The briefing aggregates 150 developer signals across linked snapshots.
Generated from the current linked snapshot set for this briefing.
Trial signals
1,108
+6vs previous quarter
Sum of linked trial counts across linked snapshots.
headline metric
Trial signals
The briefing aggregates 1108 trial signals across linked snapshots.
Generated from the current linked snapshot set for this briefing.
headline metric
Trial signals
The briefing aggregates 1130 trial signals across linked snapshots.
Generated from the current linked snapshot set for this briefing.
Active catalysts
175
+20vs previous quarter
Sum of active catalyst counts across the 2 linked snapshots.
3 selected moves
Definium’s Voyage (GAD Phase 3, around 80 per cent enrolled at the February update) guides to topline data early in Q3 2026; the registry lists study completion on 1 November 2026, with Panorama guiding to the second half of the year. A positive readout would be the first Phase 3 psychedelic result in an anxiety indication.
key move
Major Depressive Disorder (MDD)
Major Depressive Disorder (MDD) has 44 developer signals, 309 linked trial signals, and 396 paper signals in the current dataset. The generated profile is mid-stage, with briefing-calibrated competitive intensity 96/100 and catalyst weight 96/100.
Generated from linked papers, trials, stakeholder programmes, and catalyst signals in Sanity.
Reunion’s RECLAIM Phase 2 began recruiting in April 2026 (clinical data expected Q2 2027), and Seaport reported positive Phase 1 data through June with a Phase 2a planned for the second half of 2026. Behind the Phase 3 front-runners, the GAD pipeline now runs from first-in-human to Phase 2b preparation, though two of the earliest programmes are stalled or terminated on the registry.
Anxiety added 12 papers on the quarter, the largest paper delta of the seven indications, against 769 tracked papers and 110 linked trials. The literature is running ahead of sponsored development, which usually precedes new programme entries rather than following them.
One table, four scores, ranked
| # | Indication | Segment | Evidence | Competition | Maturity | Catalysts | Dev | Trials | Papers | QoQ |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | highMajor Depressive Disorder (MDD) | Core commercial | 961st | 961st | 631st | 961st | 44 | 309 | 396 | +11 |
| 2 | highAnxiety Disorders | Adjacent commercial | 912nd | 832nd | 572nd | 872nd | 19 | 108 | 770 | +15 |
How to read: rows are ordered by evidence score, and the four scores are 0 to 100 calibrations within this dataset with each score's rank in its own column beside it. Counts are linked Blossom records at the as-of date. QoQ sums absolute paper, trial and developer movement against the previous quarter (hover for the breakdown); the orange bar marks Anxiety Disorders, the quarter's largest mover.
Dated catalyst entries for every tracked indication, grouped month by month with priority marks and source links, ship in the full edition.
Anxiety Disorders shown as a complete sample
The full file, with its developer ledger and catalyst entries, is part of the full edition.
19 developers · 108 trials · 770 papers · 55 active catalysts
The quarter’s centre of gravity: Voyage guides to topline data early in Q3, RECLAIM started recruiting in April, and Seaport posted positive Phase 1 data in June. Anxiety also added more papers this quarter (+12) than any other indication.
| Company | Compound | Stage | Programme status |
|---|---|---|---|
| Definium Therapeutics | LSD | Phase 3 | Voyage (GAD Phase 3) - Enrollment ~80% complete as of Feb 2026; topline data expected early Q3 2026Active |
| Definium Therapeutics | LSD | Phase 3 | Panorama (GAD Phase 3) - Enrollment rapidly progressing; includes US and European sites. Topline data expected H2 2026.Active |
| Diamond Therapeutics | Psilocybin | Phase 2 | Low-Dose Psilocybin Phase 2a Programme (GAD, Health Canada) - Phase 2a ongoing at Kingston Health Sciences Centre (KHSC), Ontario;Active |
| Incannex Healthcare | Psilocybin | Phase 2 | PSX-001 PsiGAD Phase 2 → Phase 2b (GAD), NCT05942911 - Phase 2 PsiGAD1 complete with positive results (73 patients). Preparing multi-jurisdiction Phase 2b. Open IND with FDA.Active |
| AtaiBeckley | MDMA | Phase 2 | EMP-01 SAD, Phase 2a (UK) - Phase 2a complete; positive safety and exploratory efficacy signal. Phase 2b in larger population to follow.Completed |
| Psyence Biomedical | Psilocybin | Phase 2 | Active |
| Reunion Neuroscience | Psilocybin | Phase 2 | RECLAIM, RE104 GAD Phase 2 - RECLAIM Phase 2 is recruiting for generalized anxiety disorder.Active |
| Helus Pharma | DMT | Phase 2 | HLP004 GAD, Phase 2 POC - Helus announced positive Phase 2 signal-detection topline results for HLP004 in GAD on 2026-03-05.Active |
Nearest catalysts
5 more tracked for this indication.
score driver
Anxiety Disorders score profile
Anxiety Disorders is scored at evidence 91/100, competition 83/100, maturity 57/100, and catalyst 87/100.
Generated from linked papers, trials, stakeholder programmes, and catalyst signals in Sanity.
strategic implication
Anxiety Disorders strategic implication
High competitive intensity: differentiation and timing should be explicit in outreach conversations.
Derived from generated scores and available source counts for the indication.
strategic implication
Anxiety Disorders strategic implication
Near-term catalysts appear material enough to justify monitoring in quarterly briefings.
Derived from generated scores and available source counts for the indication.
strategic implication
Anxiety Disorders strategic implication
Public sample section: keep this complete enough to demonstrate report depth without exposing the full appendix.
Derived from generated scores and available source counts for the indication.
catalyst
Anxiety Disorders catalyst signal
Study completion: Safety, Tolerability, and Preliminary Efficacy of Psilocybin Oral Solution in Adults With Generalized Anxiety Disorder
Trial registry timing or status supports the catalyst assertion.
catalyst
Anxiety Disorders catalyst signal
Study completion: A Study of a N, N-dimethyltryptamine (DMT) Analog (CYB004) in Participants With Generalized Anxiety Disorder (GAD) With Depressive Symptoms
Trial registry timing or status supports the catalyst assertion.
catalyst
Anxiety Disorders catalyst signal
Study completion: Ketamine Plus Exposure Therapy For Post-Traumatic Stress Disorder (PTSD), Open Label Pilot Study Targeting Anxiety
Trial registry timing or status supports the catalyst assertion.
score driver
Anxiety Disorders publication signal
At-Home Telehealth-Supported Subcutaneous Ketamine Therapy in Adults With Moderate to Severe Depression, Anxiety, or PTSD: A Real-World Observational Study of Safety, Feasibility, and Clinical Outcomes in a Large, Heterogeneous Cohort in the United States
A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.
score driver
Anxiety Disorders publication signal
Sex-Specific Effects of Psilocybin Versus Escitalopram on Anxiety and Anhedonia: A Bayesian Reanalysis of Antidepressant Treatment Outcomes
A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.
score driver
Anxiety Disorders publication signal
Intranasal esketamine in treatment-resistant depression with and without comorbid borderline personality disorder: A multicenter real-world longitudinal study
A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.
score driver
Anxiety Disorders trial signal
LSD Treatment for Anticipatory Anxiety in Pre-Terminal Cancer Patients: An Open-Label Clinical Series (Kast 1967)
A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.
score driver
Anxiety Disorders trial signal
Clonazepam Treatment of LSD-Induced Hallucinogen Persisting Perception Disorder with Anxiety Features: An Open-Label Prospective Case Series
A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.
score driver
Anxiety Disorders trial signal
MDMA-Assisted Psychotherapy Low-Dose Pilot for Chronic PTSD: Double-Blind RCT (Bouso / Doblin / Farré, Madrid Spain 2000-2002)
A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.
market position
Anxiety Disorders developer signal
Entheos Labs | ET-01 (Synthetic Neuroplastogen) | discovery
Company-owned source: suitable for programme-status claims, not independent efficacy evidence.
Company-owned source supports programme-status context, not independent efficacy evidence.
market position
Anxiety Disorders developer signal
Diamond Therapeutics | Psilocybin | phase-2
Company-owned source: suitable for programme-status claims, not independent efficacy evidence.
Company-owned source supports programme-status context, not independent efficacy evidence.
market position
Anxiety Disorders developer signal
Psy Therapeutics | PSY-05 (Anxiety / PTSD) | preclinical
Company-owned source: suitable for programme-status claims, not independent efficacy evidence.
Company-owned source supports programme-status context, not independent efficacy evidence.
catalyst
Anxiety Disorders catalyst signal
Study completion: Psilocybin-Assisted Psychotherapy in Cancer Patients With Adjustment Disorder
Trial registry timing or status supports the catalyst assertion.
score driver
Anxiety Disorders publication signal
MDMA-Assisted Therapy for Social Anxiety Disorder: A Randomized, Open-label, Wait-list Controlled Trial
A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.
score driver
Anxiety Disorders trial signal
A Phase 1, Open-label, Single-arm Basket Trial of the Intravenously Administered Psilocin (TRP-8803): Safety, Anxiety, and Quality of Life Across Health Conditions Characterised by Cognitive Inflexibility, Emotional Distress, and Persistent Bodily Symptom Burden
A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.
catalyst
Anxiety Disorders catalyst signal
Registry status update: A Phase 1, Open-label, Single-arm Basket Trial of the Intravenously Administered Psilocin (TRP-8803): Safety, Anxiety, and Quality of Life Across Health Conditions Characterised by Cognitive Inflexibility, Emotional Distress, and Persistent Bodily Symptom Burden
Trial registry timing or status supports the catalyst assertion.
catalyst
Anxiety Disorders catalyst signal
Phase 1 proof-of-concept positive topline: 6.8× bioavailability vs unmodified agomelatine; 9.6-14.5× dose-normalised exposure; 10× reduction in PK variability; no SAEs or liver-related AEs
Trial registry timing or status supports the catalyst assertion.
catalyst
Anxiety Disorders catalyst signal
Study completion: Psilocybin-assisted Therapy for Alcohol Use Disorder
Trial registry timing or status supports the catalyst assertion.
catalyst
Anxiety Disorders catalyst signal
Study completion: Sustaining Remission From PTSD Using Tuned Vibroacoustic Stimulation (TVS) Following MDMA-Assisted Psychotherapy
Trial registry timing or status supports the catalyst assertion.
Every caveat, once
Generated and reviewed. 38 claim rows sit behind this preview: 0 carry an analyst review stamp, 4 are flagged for review, and the rest are generated from Blossom records and registry sources.
Scores. Evidence, competitive intensity, maturity and catalyst weight are 0 to 100 calibrations computed within this dataset under methodology enterprise-intelligence-v2, data as of 30 June 2026. They rank indications against each other inside one quarter; they are not probabilities and they do not compare across briefings.
Stored values, unrounded
The dense reference table of stored scores, counts and source-row tallies per indication ships in the full edition.