Health Industry Updates: Psychedelic Drug Stocks Rise Amid FDA Acceleration Order
Shares of psychedelic drug companies surged following an executive order by President Trump directing expedited FDA reviews of such treatments. AtaiBeckley, Compass Pathways, Enveric BioSciences, GH Research, and other firms saw significant stock gains. The order also called for increased federal funding for psychedelic research.
Psychedelic drug companies enjoyed a stock market boost after President Donald Trump signed an order mandating the U.S. Food and Drug Administration (FDA) expedite reviews of psychedelic treatments. This move sparked gains for key industry players like AtaiBeckley and Compass Pathways.
The executive order also increases federal research funding for burgeoning psychedelic therapies. Enveric BioSciences, GH Research, and Definium Therapeutics saw their shares climb, amid hopes for accelerated market entry and expanded consumer access.
Trump's initiative underscores a growing government interest in harnessing psychedelics for medical purposes, propelling stock prices of several U.S.-listed psychedelic firms upwards in response to the news.
(With inputs from agencies.)
ALSO READ
White House Correspondents' Dinner Disrupted by Shooting Incident: Trump Reacts
Relieved to learn that President Trump, First Lady, VP are safe and unharmed following security incident at Washington hotel: PM Modi.
I extend my best wishes for Prez Trump, First Lady, VP Vance's continued safety and wellbeing: PM Modi.
Violence has no place in a democracy, must be unequivocally condemned: PM Modi on shooting incident at dinner attended by President Trump.
Chaos at Correspondents' Dinner: Trump Escapes Shooting Scare
Google News