Trump Orders FDA to Fast Track Psychedelic Drug Reviews
Psychedelic drug stocks rose Monday after President Trump ordered the FDA to expedite reviews. The move adds research funding and aims to cut approval windows.
Shares of psychedelic drug developers surged in premarket trading on Monday following an executive order from the United States President Donald Trump. The order directs federal health regulators to accelerate the review process for psychedelic-based treatments and increases federal funding for research into these substances.
DEFINIUM THERAPEUTICS INC saw its shares rise 15% before the opening bell, while GH RESEARCH PLC gained 19%. Other notable movers included ENVERIC BIOSCIENCES INC, which added 7%, and CYBIN INC, with U.S.-listed shares climbing approximately 15%. Atai Life Sciences and Compass Pathways also posted significant gains of 21% and 26%, respectively.
