PRISM MarketView Launches Mental Health Index on Mental Health Awareness Day

Shining a Light on Innovative Companies Addressing the Unseen Challenges of Mental Disorders

While numerous illnesses manifest physically, making them easily recognizable, others like mental health disorders remain hidden, often making them challenging to diagnose and acknowledge. One of the lesser apparent health topics that deserves more attention, especially today, is mental health as we observe World Mental Health Day. For many, addressing mental health issues can be difficult, due to the stigma surrounding it.

A variety of mental illnesses exist and can be categorized into four types of mental health disorders which are mood, anxiety, personality, and psychotic. The effects of these conditions vary, with some requiring intensive treatment to manage disruptive daily symptoms. PRISM MarketView recently released the PRISM Emerging Mental Health Index, to track emerging companies addressing mental disorders.

Mood Disorders

Mood disorders, which include depression and bipolar disorder, primarily affect your emotional state that can cause changes in your behavior and ability to perform daily activities. The National Institute of Health states that “~21% of US adults experience any mood disorder at some time in their lives.”

Sage Therapeutics Inc. (SAGE) is a biopharmaceutical company targeting brain disorders and diseases with three areas of focus: depression, neurology and neuropsychiatry. Their drug ZULRESSO^® (brexanolone) is an FDA approved drug that treats postpartum depression.

Anxiety Disorders

While the feeling of anxiety can exist normally in our everyday life as a temporary worry or fear, those suffering from this type of condition experience anxiety that does not go away and can get worse over time. Some types include generalized, panic, social and phobia-related anxiety. According to the Anxiety and Depression Association of America, “Anxiety disorders are the most common mental illness in the US, affecting 40 million adults. While they are highly treatable, only 36.9% of those suffering seek treatment.”

Vistagen Therapeutics, Inc. (VTGN) is a biopharmaceutical company developing treatments for anxiety, depression and other central nervous system disorders. Vistagen’s fasedienol (PH94B) is a nasal spray in its Phase 3 clinical development to treat social anxiety disorder.  Additionally, the company announced pricing of a $100M underwritten offering of its common stock. The financing was led by BVF Partners LP and included additional participation from multiple institutional investors.

Personality Disorders

Each of us have our own personality made up of complex traits that develop through a combination of our genes and environment/experiences. Those who experience a personality disorder display a pattern of problematic reactionary actions towards others, based on the way in which they see themselves. These actions are typically impulsive, and these disorders can lead to difficulty in understanding emotions and handling distress. The Mayo Clinic categorizes this type of mental disorder into three groups. Group A: Paranoid, Schizoid, and Schizotypal. Group B: Borderline, Histrionic, Narcissistic, and Antisocial. Group C: Avoidant, Dependent, and Obsessive-compulsive.

Researchers have found some links to those with Attention Deficit Hyperactivity Disorder (ADHD) and Borderline Personality Disorder (BPD). While it is not always the case that the existence of one equates to the other, a publication in the National Library of Medicine cites, “ADHD symptoms in adulthood greatly interfere with daily functioning, and are associated with high number of psychiatric comorbidities. Among them, BPD in particular is encountered far more often than expected by chance in adults with ADHD.” Biopharmaceutical company, Cingulate Inc. (CING) is currently developing a Precision Time Release drug delivery platform to address those with ADHD that is in Phase 3 of clinical development. Additionally, the company recently announced a closing of a $4M public offering.

Psychotic Disorders

Psychotic disorders are typically considered to be the most severe type of all mental disorders and can cause abnormal thinking and perceptions, including hallucinations and delusions. Some mental illnesses such as schizophrenia and bipolar disorder can be linked to psychosis. However, those experiencing psychosis may never be diagnosed with either. “Studies estimate that between 15 and 100 people out of 100,000 develop psychosis each year”, as stated by the National Institute of Mental Health.

Alzamend Neuro (ALZN) is a biopharmaceutical company developing treatments for psychiatric disorders. ALZN focuses on Major Depressive Disorder, Alzheimer’s, Post Traumatic Stress Disorder, and Bipolar Disorder. Both of their drug candidates are currently in Phase 2 of clinical study. Recently, the company announced it will start its next-gen therapy study for bipolar disorder.

Alternatives to Prescribed Treatment

It is recommended that many of these disorders can be treated through a combination of medication and psychotherapy (talk therapy). However, seeking therapy is typically avoided as verbally revisiting past experiences, addressing our faults, or talking about life stressors with another individual, can be daunting. It is also surrounded by stigma which leads many to only treat themselves through prescribed medicines. Unfortunately, those who do not seek therapy may put themselves at a disadvantage due to the many benefits, this type of treatment provides such as coping, identifying new ways of addressing challenges, building relationships, emotional healing from the past, etc.

Talkspace, Inc. (TALK) is a technology platform that connects patients with licensed mental health professionals through text, video and audio mediums. They offer a variety of therapy types and can prescribe medications in combination with treatment. The online platform makes finding the right person easier than before and provides the ability to conduct therapy without having to leave your home which may increase the chances of utilization. Recently, the company released that it is incorporating a proprietary AI algorithm into its platform that will alert therapists whose patients may have a likelihood of suicide risk.

Another emerging treatment that may be used in combination or as an alternative to medicine are psychedelics. The World Health Organization has urged a change in global attitudes, actions and approaches to mental health. Unconventional methods for treatment could be the answer, according to biotech companies investigating the use of psychedelics to research solutions to treat depression, anxiety, PTSD, and other mental health conditions. PRISM MarketView has featured some of these emerging companies in its Psychedelics Index.

Today serves as a poignant reminder that mental health issues can touch anyone, regardless of status or background. The prevailing stigma surrounding such conditions can deter individuals from pursuing transformative help. It’s vital to periodically check in with loved ones and friends, reinforcing a supportive environment. Encouragingly, advancements are on the horizon as numerous companies tirelessly work towards pioneering new treatments.