Psyence Biomedical shares are trading higher after the company announced the recruitment of its Australia-based Empax Center as the second trial site for Psyence's Biomed ongoing Phase IIb clinical trial of nature-derived psilocybin as a potential treatment for Adjustment Disorder in Palliative Care.
Portfolio Pulse from Benzinga Newsdesk
Psyence Biomedical's shares are rising following the announcement of a new trial site in Australia for their Phase IIb clinical trial on psilocybin for Adjustment Disorder in Palliative Care.
October 25, 2024 | 1:48 pm
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POSITIVE IMPACT
Psyence Biomedical's stock is experiencing an upward trend due to the expansion of their clinical trial for psilocybin, which could enhance their research credibility and market potential.
The expansion of the clinical trial to a new site in Australia is a positive development for Psyence Biomedical, indicating progress in their research efforts. This can increase investor confidence and potentially lead to a rise in stock prices.
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IMPORTANCE 80
RELEVANCE 90