Privately-held Gilgamesh Pharmaceuticals has reported immense success treating depression with its novel psychedelic compound.

On Tuesday, the company dropped data from a Phase 2a study showing that nearly all trial participants suffering from the mental health condition went into remission post-adminstration. Specifically, 70 per cent reported immense alleviation from their major depressive disorder (MDD) within two weeks and 94 per cent went into remission within 30 days.

GM-2505 gets administered via intravenous infusion with ...