President Donald Trump signed an executive order aimed at removing barriers to psychedelic drugs as potential treatments for serious mental illness on Saturday, April 18, 2026.
The announcement is driving a sharp premarket rally in shares of several clinical-stage companies developing psychedelic- and neuroactive compound-based therapies.
Psyence Biomedical Ltd. (PBM)
Psyence is developing nature-derived psilocybin and ibogaine therapies. Its lead drug candidate, natural Psilocybin (NPX-5), is under a Phase 2b trial for the treatment of adjustment disorder in patients with cancer in a palliative care context.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.