Why Psyence Biomedical (PBM) Stock Is Skyrocketing
Portfolio Pulse from Henry Khederian
Psyence Biomedical Ltd (NASDAQ:PBM) shares surged by 48% to $0.58 after announcing the export of nature-derived psilocybin to Australia and the imminent start of a clinical trial. The trial will involve 84 patients and compare different doses of psilocybin with a placebo alongside psychotherapy.
July 25, 2024 | 5:24 pm
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Psyence Biomedical Ltd (NASDAQ:PBM) shares surged by 48% to $0.58 after announcing the export of nature-derived psilocybin to Australia and the imminent start of a clinical trial. The trial will involve 84 patients and compare different doses of psilocybin with a placebo alongside psychotherapy.
The significant share price increase of 48% is directly tied to the positive news of exporting psilocybin to Australia and the upcoming clinical trial. This development is likely to boost investor confidence and drive short-term price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100