Psyence Biomedical Ltd. (PBM) jumped 41.53 percent to $8.31, gaining $2.44 on Friday, after the company highlighted increasing regulatory attention toward ibogaine and its therapeutic potential.
The stock is currently trading at $8.31, compared to its previous close of $5.87 on the Nasdaq. During the session, it reached a high of $9.83 and a low of $8.04, with trading volume surging to 36,685,321 shares, well above its average volume of 1,055,914.
The move follows reports that the U.S. administration is preparing an executive order to evaluate the safety and therapeutic potential of ibogaine, a compound being studied for treating PTSD, addiction, and other neurological conditions. The development signals growing interest in regulated research for psychedelic-based therapies.
Psyence Biomedical's 52-week range is $1.92 to $468.36.
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