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Wire

FDA Fast-Tracks Psychedelic Drug Research Following Trump Directive; Psychedelic Drug Makers Gain

Shares of some psychedelic drug companies gained Friday morning after the US Food and Drug Administration said it was launching regulatory actions to back the development of psychedelic therapies to treat mental illness.Cybin (HELP) shares jumped past 4%, Psyence Biomedical (PBM) shares climbed 7%, and Clearmind Medicine (CMND) shares were up 2.4%.The FDA's move builds on President Donald Trump's recent executive order directing the Department of Health and Human Services to accelerate access to treatments for people with serious mental illness, the FDA said.The drugs have the potential to address mental health diseases like treatment-resistant depression, alcoholism and substance abuse, said FDA Commissioner Marty Makary.The agency said it is issuing national priority vouchers to three companies researching psilocybin for treatment-resistant depression, psilocybin for major depressive disorder, and methylone for post-traumatic stress disorder.The agency said it is also allowing an early-phase trial of noribogaine hydrochloride to proceed following an investigational new drug filing. The sponsor is investigating noribogaine to potentially treat alcohol use disorder, the FDA said, adding the move will allow the company developing the new drug, DemeRx NB, to start a phase 1 trial in the US.The agency said it will release final guidance "imminently" to provide recommendations to sponsors developing psychedelic medications.Price: $8.89, Change: $-0.27, Percent Change: -2.90%

$ATAI$CMND$CMPS$DFTX$GHRS$HELP$PBM
Sectors

Sector Update: Health Care Stocks Advance Late Afternoon

Health care stocks climbed late Friday afternoon, with the NYSE Health Care Index rising 1.4% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) gained 1.6%.In corporate news, Abbott Laboratories' (ABT) end-markets remain healthy despite a lower 2026 organic revenue guidance amid fiscal Q1 challenges and mixed performance, RBC Capital Markets said in a note. Abbott shares rose 1.7%.Merck (MRK) shares added 2.8% after it said Friday that the European Commission has approved Enflonsia to prevent respiratory tract disease in newborns and infants.Kura Oncology (KURA) shares jumped past 9% after it said Friday that new preliminary data from a subset analysis of patients with clear cell renal cell carcinoma previously treated with cabozantinib showed "robust" antitumor activity in an ongoing clinical trial of darlifarnib in combination with cabozantinib.Psyence Biomedical (PBM) shares surged 30% after it acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions. Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.

$ABT$KURA$MRK$PBM
Sectors

Sector Update: Health Care Stocks Higher Friday Afternoon

Health care stocks climbed Friday afternoon, with the NYSE Health Care Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) advanced 1.4%.In corporate news, Merck (MRK) shares rose 2.3% after it said Friday that the European Commission has approved Enflonsia to prevent respiratory tract disease in newborns and infants.Kura Oncology (KURA) shares jumped nearly 7% after it said Friday that new preliminary data from a subset analysis of patients with clear cell renal cell carcinoma previously treated with cabozantinib showed "robust" antitumor activity in an ongoing clinical trial of darlifarnib in combination with cabozantinib.Psyence Biomedical (PBM) shares surged 66% after it acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions. Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.

$KURA$MRK$PBM
Sectors

Sector Update: Health Care

Health care stocks climbed Friday afternoon, with the NYSE Health Care Index rising 1.7% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 1.5%.The iShares Biotechnology ETF (IBB) advanced 1.4%.In corporate news, Psyence Biomedical (PBM) shares surged 44% after it acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions. Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.

$PBM
Wire

Top Midday Gainers

Critical Metals (CRML) said Friday that the Government of Greenland has approved the transfer of the remaining 50.5% stake in Tanbreez Mining Greenland, increasing the company's ownership to 92.5%.Shares surged 35% as intraday trading volume soared to over 57.2 million from a daily average of about 12.5 million.B. Riley raised its price target for Bandwidth's (BAND) shares to $27 from $20 while keeping the stock's buy rating.Shares jumped 9%, with intraday trading volume at over 333,000, compared with a daily average of about 410,000.Psyence Biomedical (PBM) acknowledged recent reports saying that the US administration is preparing an executive order to further evaluate the safety and therapeutic potential of ibogaine, a naturally occurring compound being studied for its potential in treating post-traumatic stress disorder, addiction, and other serious neurological and mental health conditions.Through its investment in PsyLabs, Psyence has established a position in the manufacturing of ibogaine and ibogaine derivatives, it said.Shares soared 41% as intraday trading volume advanced to over 37.6 million from a daily average of roughly 1.06 million.Price: $12.60, Change: $+3.33, Percent Change: +35.93%

$BAND$CRML$PBM