Enterprise IntelligenceQ2 2026Preview open, full report locked

Q2 2026 Psychedelic Drug Development Competitive Intelligence Briefing

A quarterly competitive intelligence briefing for developer strategy teams, with a complete Anxiety / GAD sample section and selected market signals.

Reporting Period

Q2 2026

A quarterly briefing assembled from Blossom topic, trial, paper, and developer signals.

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Executive Summary

This generated briefing covers 7 indication areas, 150 developer signals, and 1130 trial signals for Q2 2026 enterprise review.

Selected Signals

Major Depressive Disorder (MDD)

Major Depressive Disorder (MDD) has 42 developer signals, 309 linked trial signals, and 397 paper signals in the current dataset. The generated profile is mid-stage, with briefing-calibrated competitive intensity 96/100 and catalyst weight 96/100. Review collection needs and source rows in Sanity before relying on generated claims in sales-facing materials.

Evidence for this claim1 source · review gaps present

key move

Major Depressive Disorder (MDD)

Needs review

Source: Blossom generated signal counts
Type: Blossom record
Freshness: Dated · 2026-06-30
Confidence: high

Generated from linked papers, trials, stakeholder programmes, and catalyst signals in Sanity.

Emerging Indications Watchlist

Emerging Indications Watchlist has 34 developer signals, 199 linked trial signals, and 552 paper signals in the current dataset. The generated profile is mid-stage, with briefing-calibrated competitive intensity 91/100 and catalyst weight 93/100. Review collection needs and source rows in Sanity before relying on generated claims in sales-facing materials.

Treatment-Resistant Depression (TRD)

Treatment-Resistant Depression (TRD) has 15 developer signals, 208 linked trial signals, and 344 paper signals in the current dataset. The generated profile is mid-stage, with briefing-calibrated competitive intensity 87/100 and catalyst weight 89/100. Review collection needs and source rows in Sanity before relying on generated claims in sales-facing materials.

Signal Matrix

A calibrated view of signal strength, source depth, and public evidence coverage across the preview indication set.

Major Depressive Disorder (MDD)

core commercial

Evidence96

Competition96

Maturity60

Catalyst96

Sources: 42 dev / 309 trial / 397 paper
Evidence Rows: 7

Anxiety Disorders

adjacent commercial

Evidence91

Competition83

Maturity57

Catalyst88

Sources: 19 dev / 110 trial / 769 paper
Evidence Rows: 20

Indication Competition Map

Competitive intensity is plotted against evidence and maturity. Larger circles indicate stronger catalyst weight.

Indication Signals

core commercial

Major Depressive Disorder (MDD)

Major depressive disorder is the most common form of depression and, somewhat unexpectedly, the place where psilocybin has its strongest randomised evidence: the landmark trials enrolled people with major depression who were not treatment-resistant. Yet no psychedelic is approved for general major depression, and esketamine, the one approved rapid-acting drug, is licensed only for the resistant form and for depression with acute suicidality. The honest reading is genuine promise set against modest, hard-to-blind effects and a head-to-head with a standard antidepressant that ended in a draw. This page covers general, first-line major depression; the resistant subset and the family overview have their own pages.

Evidence: 96/100
Competition: 96/100
Maturity: 60/100
Catalysts: 96/100

Evidence for this claim7 sources · review gaps present

score driver

Major Depressive Disorder (MDD) score profile

Major Depressive Disorder (MDD) is scored at evidence 96/100, competition 96/100, maturity 60/100, and catalyst 96/100.

Needs review

Source: Blossom generated signal counts
Type: Blossom record
Freshness: Dated · 2026-06-30
Confidence: high

Generated from linked papers, trials, stakeholder programmes, and catalyst signals in Sanity.

score driver

Major Depressive Disorder (MDD) 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

Generated

Source: 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
Type: Publication
Freshness: Recent · 2026-06-19
Confidence: medium

A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.

score driver

Major Depressive Disorder (MDD) publication signal

Distinct brain responses to psilocybin and escitalopram in depression captured by the Fluctuation-Dissipation Theorem

Generated

Source: Distinct brain responses to psilocybin and escitalopram in depression captured by the Fluctuation-Dissipation Theorem
Type: Publication
Freshness: Recent · 2026-06-16
Confidence: medium

A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.

score driver

Major Depressive Disorder (MDD) publication signal

Real-World Psilocybin Therapy for Treatment-Resistant Depression: a Retrospective Observational Study

Generated

Source: Real-World Psilocybin Therapy for Treatment-Resistant Depression: a Retrospective Observational Study
Type: Publication
Freshness: Recent · 2026-06-01
Confidence: medium

A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.

score driver

Major Depressive Disorder (MDD) 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

Generated

Source: 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
Type: Trial registry
Freshness: Unknown date
Confidence: high

A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.

score driver

Major Depressive Disorder (MDD) trial signal

Ketamine Frequency Treatment for Major Depressive Disorder

Generated

Source: Ketamine Frequency Treatment for Major Depressive Disorder
Type: Trial registry
Freshness: Stale · 1900-01-01
Confidence: high

A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.

score driver

Major Depressive Disorder (MDD) trial signal

Ketamine in treatment-resistant major depression

Generated

Source: Ketamine in treatment-resistant major depression
Type: Trial registry
Freshness: Stale · 2007-09-30
Confidence: high

A linked trial record supports pipeline status and timing; registry verification is still required when no registration number is stored.

adjacent commercial

Anxiety Disorders

Public sample

Anxiety disorders are the most common mental health conditions in the world, yet for primary anxiety (generalised anxiety, social anxiety, panic) the psychedelic evidence is surprisingly thin. The clear front-runner is LSD: MindMed’s MM120 met its Phase 2b endpoint in generalised anxiety disorder and is now in two Phase 3 trials. Most other psychedelic anxiety data comes from cancer and end-of-life distress, a different problem covered on our palliative page, or is measured as a side effect of treating depression.

Evidence: 91/100
Competition: 83/100
Maturity: 57/100
Catalysts: 88/100

Change vs previous quarter

Papers: +12
Trials: +4
Developers: 0
Catalysts: -1

Evidence for this claim20 sources · review gaps present

score driver

Anxiety Disorders score profile

Anxiety Disorders is scored at evidence 91/100, competition 83/100, maturity 57/100, and catalyst 88/100.

Needs review

Source: Blossom generated signal counts
Type: Blossom record
Freshness: Dated · 2026-06-30
Confidence: high

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.

Generated

Source: Blossom generated strategic implication
Type: Blossom record
Freshness: Recent · 2026-06-30
Confidence: high

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.

Generated

Source: Blossom generated strategic implication
Type: Blossom record
Freshness: Recent · 2026-06-30
Confidence: high

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.

Generated

Source: Blossom generated strategic implication
Type: Blossom record
Freshness: Recent · 2026-06-30
Confidence: high

Derived from generated scores and available source counts for the indication.

catalyst

Anxiety Disorders catalyst signal

Study completion: Psilocybin-Assisted Psychotherapy in Cancer Patients With Adjustment Disorder

Generated

Source: Study completion: Psilocybin-Assisted Psychotherapy in Cancer Patients With Adjustment Disorder
Type: Trial registry · Psyence Australia Pty Ltd
Freshness: Recent · 2026-08-21
Confidence: medium

Trial registry timing or status supports the catalyst assertion.

catalyst

Anxiety Disorders catalyst signal

Study completion: Safety, Tolerability, and Preliminary Efficacy of Psilocybin Oral Solution in Adults With Generalized Anxiety Disorder

Generated

Source: Study completion: Safety, Tolerability, and Preliminary Efficacy of Psilocybin Oral Solution in Adults With Generalized Anxiety Disorder
Type: Trial registry · Queen's University
Freshness: Recent · 2026-08-30
Confidence: medium

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

Needs review

Source: Study completion: Ketamine Plus Exposure Therapy For Post-Traumatic Stress Disorder (PTSD)– Open Label Pilot Study Targeting Anxiety
Type: Trial registry
Freshness: Dated · 2026-04-24
Confidence: medium

Trial registry timing or status supports the catalyst assertion.

score driver

Anxiety Disorders publication signal

Generated

Source: 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
Type: Publication
Freshness: Recent · 2026-06-19
Confidence: medium

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

Generated

Source: Sex-Specific Effects of Psilocybin Versus Escitalopram on Anxiety and Anhedonia: A Bayesian Reanalysis of Antidepressant Treatment Outcomes
Type: Publication
Freshness: Recent · 2026-06-19
Confidence: high

A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.

score driver

Anxiety Disorders publication signal

MDMA-Assisted Therapy for Social Anxiety Disorder: A Randomized, Open-label, Wait-list Controlled Trial

Generated

Source: MDMA-Assisted Therapy for Social Anxiety Disorder: A Randomized, Open-label, Wait-list Controlled Trial
Type: Publication
Freshness: Recent · 2026-06-04
Confidence: high

A linked publication supports the indication evidence profile; extracted outcomes increase confidence in direct claim use.

score driver

Anxiety Disorders trial signal

Generated

Source: 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
Type: Trial registry
Freshness: Unknown date
Confidence: high

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

LSD Treatment for Anticipatory Anxiety in Pre-Terminal Cancer Patients: An Open-Label Clinical Series (Kast 1967)

Generated

Source: LSD Treatment for Anticipatory Anxiety in Pre-Terminal Cancer Patients: An Open-Label Clinical Series (Kast 1967)
Type: Trial registry
Freshness: Stale · 1967-01-01
Confidence: high

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

Generated

Source: Clonazepam Treatment of LSD-Induced Hallucinogen Persisting Perception Disorder with Anxiety Features: An Open-Label Prospective Case Series
Type: Trial registry
Freshness: Stale · 2002-06-01
Confidence: high

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

Generated

Source: ET-01 (Synthetic Neuroplastogen)
Type: Company announcement · Entheos Labs
Freshness: Unknown date
Confidence: medium

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

Generated

Source: Low-Dose Psilocybin Phase 2a Programme (GAD, Health Canada)
Type: Company announcement · Diamond Therapeutics
Freshness: Unknown date
Confidence: medium

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

Generated

Source: PSY-05 — Preclinical (GAD / PTSD)
Type: Company announcement · Psy Therapeutics
Freshness: Unknown date
Confidence: medium

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

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

Generated

Source: 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
Type: Trial registry
Freshness: Unknown date
Confidence: low

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

Generated

Source: 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
Type: Trial registry · Seaport Therapeutics
Freshness: Recent · 2026-04-02
Confidence: medium

Trial registry timing or status supports the catalyst assertion.

catalyst

Anxiety Disorders catalyst signal

Study completion: Psilocybin-assisted Therapy for Alcohol Use Disorder

Generated

Source: Study completion: Psilocybin-assisted Therapy for Alcohol Use Disorder
Type: Trial registry · University of Sydney
Freshness: Recent · 2025-12-31
Confidence: medium

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

Generated

Source: Study completion: Sustaining Remission From PTSD Using Tuned Vibroacoustic Stimulation (TVS) Following MDMA-Assisted Psychotherapy
Type: Trial registry · Apollo Neuroscience, Inc.
Freshness: Recent · 2025-12-31
Confidence: medium

Trial registry timing or status supports the catalyst assertion.

Developer Signals

Definium Therapeutics

LSD | phase-3 | Voyage (GAD Phase 3) - Enrollment ~80% complete as of Feb 2026; topline data expected early Q3 2026 - active

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; first-ever Health Canada-approved at-home microdose psychedelic trial; first patient July 30, 2025 - 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. Clinical Advisory Board formed. Well-funded: $70M+ cash, runway into 2027. Nasdaq:IXHL / ASX:IHL. - 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. ClinicalTrials.gov lists an actual study start in April 2026 and an estimated primary completion in February 2027; Reunion expects clinical data in Q2 2027. - 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. The 20 mg adjunctive arm showed a 10.4-point mean HAM-A reduction at six weeks, with pooled six-month response/remission rates of 67%/39%. Next watch items are durability follow-up, a peer-reviewed publication, or Phase 3 guidance. - active

Catalyst Signals

Study completion: Psilocybin-Assisted Psychotherapy in Cancer Patients With Adjustment Disorder

Psyence Australia Pty Ltd | 2026-08-21 | trial-readout

View source

Study completion: Safety, Tolerability, and Preliminary Efficacy of Psilocybin Oral Solution in Adults With Generalized Anxiety Disorder

Queen's University | 2026-08-30 | trial-readout

View source

Study completion: Ketamine Plus Exposure Therapy For Post-Traumatic Stress Disorder (PTSD)– Open Label Pilot Study Targeting Anxiety

2026-04-24 | trial-readout

View source

Study completion: Psilocybin-assisted Existential, Attachment and RelationaL (PEARL) Therapy for Patients With Advanced Cancer

University Health Network, Toronto | 2026-06-15 | trial-readout

View source

Study completion: Psilocybin for Prolonged Grief Disorder

University of Amsterdam | 2026-10-01 | trial-readout

View source

Study completion: A Phase 3 Trial of MM120 for Generalized Anxiety Disorder (Voyage)

Definium Therapeutics | 2026-11-01 | trial-readout

View source

Study completion: Effects of Intranasal Ketamine on Depression and Anxiety in Palliative Care Cancer Patients (Keta-Care)

University of Zurich | 2026-12-01 | trial-readout

View source

Study completion: Pragmatic Trial of Psilocybin Therapy in Palliative Care (PT2PC)

2026-12-26 | trial-readout

View source

Pipeline Stage Mix

Discovery

1 dev / 0 trial

Preclinical

8 dev / 0 trial

Phase 1

3 dev / 24 trial

Phase 2

6 dev / 59 trial

Phase 3

2 dev / 6 trial

Phase 4

0 dev / 5 trial

Other / unspecified

0 dev / 16 trial

DeveloperTrial

Briefing Metrics

Indication areas: 7
Developer signals: 150
Trial signals: 1130

Q2 2026 Psychedelic Drug Development Competitive Intelligence Briefing

Reporting Period

Access State

Executive Summary

Selected Signals

Signal Matrix

Indication Competition Map

Indication Signals

Major Depressive Disorder (MDD)

Anxiety Disorders

Developer Signals

Catalyst Signals

Pipeline Stage Mix

Company

Product

Legal