On Saturday, President Donald Trump signed an executive order directing the U.S. Food and Drug Administration to move faster on reviews tied to psychedelic-based research and treatment, including ibogaine that veteran advocates say may help post-traumatic stress disorder.
Compass Pathways up 37%; Atai Beckley up 28%; GH Research up 26%; Cybin up about 6%; Definium Therapeutics up 4%.
Reuters reported that the order tells the FDA to accelerate its work on drugs such as ibogaine, and federal officials said the changes are designed to open a path for reclassification if clinical trials succeed.
At the Oval Office event, Trump said the federal government would commit $50 million for ibogaine research, and FDA Commissioner Marty Makary said agency decisions could arrive as soon as this summer.
Health Secretary Robert F. Kennedy Jr. has backed the idea of using ibogaine and similar substances as alternatives for mental health conditions including depression.
Administration officials said they believe the scientific record has reached a point where ibogaine's potential as a mental health therapy can be considered, even as these drugs are largely illegal and can trigger hallucinations.
Trump framed the shift as a break from past stigma, saying, "I've been hearing about it a little bit over the last year," and adding, "I never heard anything about it in the past. It was almost like, taboo. It's not taboo anymore."
That same willingness to challenge long-standing norms is also showing up in the administration's drug-pricing playbook, which is built around steering consumers toward lower sticker prices rather than changing the prescription itself.
Under the TrumpRx setup, the site does not dispense medications, but instead lets users look up a drug, see a reduced price, and print a coupon to redeem at pharmacies or through manufacturers' online channels.
Some of the clearest examples highlighted for the site involve GLP-1 drugs used for diabetes and obesity, with Ozempic and Wegovy shown dropping from $1,028 and $1,349 per month to as low as $199 depending on dose.
Fertility drugs are also included in the price-cut push, with medications such as Gonal-F and Cetrotide flagged for lower costs.
The administration has also pointed to pipeline expansion, saying more medicines from additional companies that struck "MFN pricing deals" are expected to appear on the site in the coming months.
Separately, the Department of Labor has proposed rules aimed at forcing Pharmacy Benefit Managers to reveal how they are paid by self-insured group health plans, a market that covers about 90 million Americans.
While the pricing initiative targets household budgets, the psychedelic order is aimed at speeding the research-to-treatment timeline for conditions that have been difficult to manage with standard approaches.
As reported by Reuters, officials said the regulatory changes are intended to make it possible for these substances to be rescheduled after clinical trials demonstrate safety and effectiveness.
The company’s CEO, Jody Aufrichtig, emphasized that "infrastructure is strategy," reflecting a broader trend where firms with standardized pharmaceutical manufacturing are positioned to generate durable enterprise value. This evolving landscape indicates that as the FDA accelerates its review processes, companies like Psyence BioMed will be strategically prepared to capitalize on advancements in psychedelic research and treatment.
Veteran organizations have argued that ibogaine could be useful for PTSD, and the executive order explicitly calls for faster FDA review work on drugs in that category.
Makary said the agency could have determinations ready as soon as this summer, setting a near-term window for the administration's accelerated approach to show results.
Trump's $50 million research commitment specifically targets ibogaine, positioning federal funding alongside the regulatory push to generate more clinical evidence.
In parallel, the administration's broader health agenda is leaning on negotiated manufacturer discounts and coupon-style access through trumprx.gov, with the goal of narrowing the gap between U.S. drug prices and what patients pay in other countries.
