Forecast Ledgerinterventional psychiatry and psychedelic medicineQuoted, dated predictions scored against public outcomes under one written method. Every score links to the words, the rule and the evidence.

True · Brier 0.01

Rules 1.1.0 · as of 14 Sep 2026

Quote

“I believe that SNT and similar approaches will demonstrate both statistical significance and be—capital H—Helpful.”
· Can You Cure Depression with this One Weird Trick? · substack post Paid

Core forecast of the essay: SNT (Stanford Neuromodulation Therapy, accelerated iTBS TMS developed by Dr. Williams at Stanford) and similar approaches will show statistical significance in subsequent research and be meaningfully helpful for depression.

Intake

EventA proposition written from a template on the asset, with a resolution criterion and a named public source, before the outcome is looked up. The same event resolves every person's items on it. Method ›
SNT or accelerated iTBS for depression: a subsequent RCT meets its primary endpoint
AreaOne of five topic classes: regulatory decisions, clinical trial outcomes, company and market outcomes, payer and policy, practice adoption. Every event has one area. Method ›
Trial outcomes
DeadlineThe date by which the event must happen for the item to be true. It comes only from the person's words through the anchor table. Method ›
None stated · undated panelItems with no deadline in the person's words, scored on a uniform 24-month window from the statement date. Part of the headline panel since rules 1.1.0; also shown on its own. Method ›, 24-month window to 11 Jul 2024
Probability
0.90 LexiconThe fixed five-bin table that turns a phrase into a probability. The strongest phrase in the claim sentence decides; coders never read tone. Method › · binOne of five lexicon steps: A 'will' 0.90, B 'probably' 0.70, C 'may' 0.50, D 'unlikely' 0.30, E 'never' 0.10. A stated number goes to the nearest bin for calibration only. Method › A · “I believe that SNT and similar approaches will demonstrate”
Base rateThe probability a published external study gives an event of that class and stage, fixed at intake. Halved when the item window is shorter than the class median time to decision. Never learned from the ledger's own items. Method ›
None in the table
Tags
retrospective
Coder BCohen's kappa: agreement between two coders beyond chance, from -1 to 1. Reported for admit, event, deadline, bin and asserts from the second-coder match test. Method ›
admittedA statement that passed intake: sincere, the person's own claim, forward-looking, inside the five areas, and not excluded by a reason code. Only admitted statements become items. Method › · event E-0006 · deadline none · bin A
Registry entry

A randomized controlled trial of SNT or another accelerated iTBS protocol for depression, reported after 11 July 2022, meets its prespecified primary endpoint with statistical significance.

TRUE on the date of the first sponsor topline release, ClinicalTrials.gov results posting or peer-reviewed publication dated after 2022-07-11 that reports a randomized controlled trial of SNT (Stanford Neuromodulation Therapy, the accelerated intermittent theta-burst TMS protocol commercialized by Magnus Medical) or another accelerated iTBS protocol for a depressive disorder, distinct from the Stanford SNT trial already published at the statement date, in which the prespecified primary efficacy endpoint met statistical significance versus the control arm as reported by the sponsor or the authors. Open-label series, secondary endpoints and pooled analyses do not count. Resolution source: the trial's ClinicalTrials.gov record and results posting, with the first peer-reviewed publication or sponsor release fixing the date. FALSE at the deadline when no such trial result has been reported.

Resolution source: ClinicalTrials.gov record and results posting of the trial; peer-reviewed publication or sponsor release as the secondary source

Readings: 'SNT and similar approaches' is read as SNT or another accelerated iTBS protocol (several iTBS sessions a day over about five days), per the author's own description of SNT in the post.; 'demonstrate statistical significance' is read as the primary efficacy endpoint meeting significance in a randomized controlled trial; the author names randomized controlled trials as the test in the same post (owen-0072).; 'and be Helpful' is split off as owen-0070-b and is not written into this event.

How to read
The event, criterion and deadline were written at intake, before the outcome1 if the registry event happened on or before the item's deadline, 0 if it did not. Written by a resolver who never sees p. Method › was looked up. Coder B coded the statement independently.

Coder A

Resolution

State
True
Effective deadlineAn item enters the score only when its deadline has passed and the outcome is true or false. A claim already known true still waits for its deadline. Method ›
11 Jul 2024
Outcome1 if the registry event happened on or before the item's deadline, 0 if it did not. Written by a resolver who never sees p. Method ›
occurred on 10 Jul 2024 · checked through 13 Sep 2026
Resolver note
Occurred. First qualifying report after 2022-07-11: Sheline et al., JAMA Psychiatry, online 2024-07-10 (NCT05228457, Univ. of Pennsylvania): imaging-guided accelerated iTBS, 10 sessions/day for 5 days (90,000 pulses, SNT-like), 24 patients with treatment-resistant bipolar depression, randomized, sham-controlled; primary MADRS at treatment end -14.75 vs sham (P<.001, d -2.19); CT.gov results posted 2025-03-12. Reading: bipolar depression counts as 'a depressive disorder' because the event is 'for depression' and the registered conditions include treatment-resistant depression. Earlier post-2022 accelerated iTBS RCTs missed their primary endpoint (Wilkening 2022; Li 2023; Huang 2024) or had no sham arm (Cheng 2023). If bipolar depression is excluded, the first qualifying MDD trial is Ramos et al., JAMA Psychiatry, online March 2025 (NCT05388539; HDRS-17 at week 5, P<.001).
BrierThe squared gap between a probability and the outcome, (p - o)^2. 0 is perfect, 0.25 is the constant coin flip, 1 is confidently wrong. Lower is better. Method ›
0.01 = (0.90 − 1)²
Adversarial recheck

escalated (criterion): PubMed shows no qualifying multi-daily theta-burst RCT in depression from 2022-07-12 to 2024-07-10: Wilkening 2022 and Li 2023 missed their primary endpoints; Kong 2023 was a non-inferiority trial of V1 versus DLPFC with no sham arm; Huang 2024, Zhang 2024 and Mallik 2022 were not significant. So Sheline et al. (JAMA Psychiatry online 2024-07-10; 10 sessions a day for 5 days; MADRS -14.75 versus sham, P<.001) is the first positive RCT, but its population is treatment-refractory bipolar depression. The criterion says "a depressive disorder"; DSM-5 files bipolar disorders in a separate chapter, while the proposition says "for depression" and the registered conditions include treatment-resistant depression. If bipolar depression is excluded, the next candidate is Ramos et al. (online 2025-03-05; TRD; 3 sessions a day for 15 weekdays), outside the "about five days" reading. The readings differ by eight months; the criterion does not settle it.

How to read
State at window close; the outcome comes from the registry, the score from the rule.

Registry

Timeline

1 claim against 42 events in the field.

saiddueevent
8 Aug 2022 · Karuna Therapeutics (KarXT, EMERGENT-2): Karuna reports positive phase 3 EMERGENT-2: KarXT beat placebo on PANSS total scKARUNA THERAPEUTICS (KARXT, EMERGENT-2): KARUNA REPORTS POSITIVE PHASE 3 EMERGENT-2: KARXT BEAT PLACEBO ON PANSS TOTAL SC3 Nov 2022 · Compass Pathways (COMP360 phase 2b): NEJM publishes Compass phase 2b: a single 25 mg COMP360 psilocybin dose beat 1 m8 Dec 2022 · Relmada Therapeutics (REL-1017): Relmada's esmethadone fails a second large phase 3 depression trial two months a20 Mar 2023 · Karuna Therapeutics (KarXT, EMERGENT-3): Karuna reports positive phase 3 EMERGENT-3, its third positive registrational Ka24 May 2023 · ELEKT-D (ketamine vs ECT): NEJM publishes ELEKT-D: subanesthetic IV ketamine was noninferior to ECT in 403 21 Jul 2023 · Neurolief (Relivion DP, MOOD trial): Neurolief reports a positive interim analysis of its MOOD pivotal trial of at-ho31 Aug 2023 · Usona Institute (PSIL201): JAMA publishes Usona's phase 2 PSIL201: a single 25 mg psilocybin dose beat niac14 Sep 2023 · MAPS PBC (MAPP2): Nature Medicine publishes confirmatory phase 3 MAPP2 of MDMA-assisted therapy in5 Oct 2023 · Johnson & Johnson (Spravato, ESCAPE-TRD): NEJM publishes ESCAPE-TRD: esketamine nasal spray beat quetiapine XR on remissio30 Nov 2023 · Cybin (CYB003): Cybin reports positive phase 2 topline for deuterated psilocybin analog CYB003 i14 Dec 2023 · MindMed (MM120, phase 2b GAD): MindMed reports positive phase 2b of MM120 (LSD) in GAD with dose-dependent HAM-5 Jan 2024 · Stanford Medicine / VETS (magnesium-ibogaine): Nature Medicine publishes Stanford's open-label magnesium-ibogaine study in 30 s20 Mar 2024 · Usona Institute (uAspire / PSIL301): Usona launches phase 3 uAspire: single 25 mg psilocybin dose vs placebo in about30 May 2024 · Johnson & Johnson (seltorexant, MDD3001): J&J reports phase 3 MDD3001: adjunctive seltorexant met all primary and secondar11 Aug 2024 · MAPS / Lykos (Psychopharmacology): Psychopharmacology retracts three MDMA-assisted therapy papers by MAPS/Lykos aut22 Oct 2024 · Alto Neuroscience (ALTO-100): Alto's biomarker-selected phase 2b of ALTO-100 in MDD misses its primary MADRS e11 Nov 2024 · AbbVie (emraclidine, EMPOWER-1/2): AbbVie's muscarinic agonist emraclidine, acquired via the $8.7B Cerevel deal, fa18 Nov 2024 · Cybin (CYB003): Cybin reports 12-month phase 2 follow-up for CYB003 in MDD with sustained respon3 Dec 2024 · US Department of Veterans Affairs: VA announces funding for its first study of MDMA-assisted therapy in decades, fo9 Dec 2024 · Relmada Therapeutics (REL-1017): Relmada halts its two remaining phase 3 trials of esmethadone after a futility s2 Jan 2025 · Neumora Therapeutics (navacaprant, KOASTAL-1): Neumora's phase 3 KOASTAL-1 of kappa-opioid antagonist navacaprant in MDD misses3 Feb 2025 · GH Research (GH001): GH Research reports its phase 2b of inhaled mebufotenin (5-MeO-DMT) GH001 in TRD12 Feb 2025 · Alto Neuroscience (ALTO-300): Alto reports a favorable interim analysis of its EEG-biomarker phase 2b of adjun3 Mar 2025 · Neumora Therapeutics (navacaprant): Neumora halts one navacaprant depression trial and redesigns the KOASTAL-2 and K6 Mar 2025 · Johnson & Johnson (aticaprant, VENTURA): J&J stops the phase 3 VENTURA program of kappa-opioid antagonist aticaprant in M22 Apr 2025 · Bristol Myers Squibb (Cobenfy, ARISE): Phase 3 ARISE misses: adjunctive Cobenfy did not significantly beat placebo on P23 Jun 2025 · Compass Pathways (COMP360, COMP005): Compass reports phase 3 COMP005 met its primary endpoint: a single 25 mg COMP3601 Jul 2025 · atai Life Sciences / Beckley Psytech (BPL-003): Phase 2b of single-dose intranasal BPL-003 (5-MeO-DMT) in TRD meets primary and 4 Sep 2025 · MindMed (MM120): JAMA publishes MindMed's phase 2b of MM120 in GAD, the first placebo-controlled 22 Sep 2025 · Johnson & Johnson (seltorexant, MDD3005): Phase 3 MDD3005 misses its primary endpoint: seltorexant showed only numerically3 Dec 2025 · Bristol Myers Squibb (Cobenfy, ADEPT-2): BMS delays the ADEPT-2 phase 3 readout in Alzheimer's disease psychosis to end-217 Feb 2026 · Compass Pathways (COMP360, COMP006): Second phase 3 COMP006 meets primary endpoint: two 25 mg COMP360 doses 3 weeks a5 Mar 2026 · Helus Pharma (HLP004 / CYB004, GAD): Helus reports phase 2 signal-detection results for deuterated DMT HLP004 in mode1 Apr 2026 · Alto Neuroscience (ALTO-101): Alto's phase 2 proof-of-concept of ALTO-101 in cognitive impairment associated w8 Apr 2026 · AtaiBeckley (BPL-003): AtaiBeckley publishes phase 2a data of BPL-003 in TRD patients on SSRIs (CNS Dru26 May 2026 · US Department of Veterans Affairs: VA launches its MDMA-assisted therapy trial for veterans with PTSD and alcohol u15 Jun 2026 · Neumora Therapeutics (navacaprant, KOASTAL-2/3): KOASTAL-2 and KOASTAL-3 both miss; Neumora discontinues navacaprant after three 22 Jun 2026 · Definium Therapeutics (DT120 / MM120, Emerge): Phase 3 Emerge of single-dose DT120 (LSD) ODT 100 µg in MDD meets its primary en7 Jul 2026 · Compass Pathways (COMP360, COMP006): COMP006 26-week (Part B) data show benefit of two 25 mg doses maintained on aver21 Jul 2026 · Helus Pharma (HLP003 / CYB003, APPROACH): Helus completes enrollment in the phase 3 APPROACH study of HLP003 as adjunctive12 Aug 2026 · Definium Therapeutics (DT120 / MM120, Voyage): Phase 3 Voyage of DT120 ODT 100 µg in GAD meets its primary HAM-A endpoint at we9 Sep 2026 · Compass Pathways (COMP360, COMP005 Part C): Compass reports 52-week open-label COMP005 data: participants who received an adSNT OR ACCELERATE…SNT or accelerated iTBS for depression: a subsequent RCT meets its primary endpoint · stated 11 Jul 2022SNT or accelerated iTBS for depression: a subsequent RCT meets its primary endpoint · restated 11 Jul 2022 · p 90%SNT or accelerated iTBS for depression: a subsequent RCT meets its primary endpoint · hit 10 Jul 202490%TODAY2023202420252026

Trial outcomes