Psyence Biomed Announces It Has Decided Not To Proceed With The Acquisition Of Clairvoyant At This Time
Portfolio Pulse from Benzinga Newsdesk
Psyence Biomed (NASDAQ:PBM) has decided not to proceed with the acquisition of Clairvoyant Therapeutics. The company is focusing on its Phase IIb clinical trial for psilocybin-based treatment in palliative care, with results expected in the second half of 2025.
October 04, 2024 | 8:07 pm
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Psyence Biomed has decided not to proceed with the acquisition of Clairvoyant Therapeutics, focusing instead on its Phase IIb clinical trial for psilocybin-based treatment in palliative care.
The decision not to proceed with the acquisition may be seen as neutral in the short term as the company focuses on its core clinical trial, which could be positive if successful. However, the lack of acquisition may also indicate challenges or strategic shifts.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100