Psychedelic Drug Developers Surge as Trump Expedites FDA Reviews
U.S. President Donald Trump signed an order instructing the FDA to expedite reviews of psychedelic drugs, causing shares of related companies to rise. Atai Life Sciences and Compass Pathways saw significant increases. The order aims to boost research funding and streamline treatment access for conditions like PTSD.
On Monday, shares of psychedelic drug developers experienced a notable rise. This followed U.S. President Donald Trump's executive order directing health regulators to expedite reviews of psychedelic drugs, aiming to enhance federal research funding.
Atai Life Sciences observed a substantial 26% rise in shares before markets opened. Other companies like Definium Therapeutics and Compass Pathways also marked notable gains of 14% and 24% respectively.
This directive, intended to facilitate quicker access to treatments for conditions such as PTSD, reflects an administrative effort to streamline processes and boost research initiatives.
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