Psychedelic Stocks Tank After FDA Advisors Shoot Down MDMA Therapy For PTSD

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WNBA Sky-Fever Game With Controversial Foul On Caitlin Clark Drew 1.5 Million Viewers—Nearly 350% Above 2023 Regular Season ViewershipShares for companies focused on psychedelic medicines plummeted during premarket trading on Wednesday after independent experts advised the Food and Drug Administrationand stimulant drug MDMA, commonly known as ecstacy or molly, for post-traumatic stress disorder, a major setback for those hoping to open a new era of medicine for the often-outlawed substances.

Others hit include Relmada Therapeutics, which targets central nervous system conditions and was down around 5%, and Dublin drug developer GH Research, down around 3.5%.whether psychedelics can treat neurological diseases, appears to be a notable exception, with shares up nearly 2% during premarket trading.

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Psychedelic Stocks Tank After FDA Advisors Shoot Down MDMA Therapy For PTSDRobert Hart is a senior reporter for Forbes covering science, technology and health with a frequent focus on artificial intelligence, space, weight loss drugs and emerging technologies. He joined Forbes in 2020 and is based in London. Rob has covered everything from the billionaire space race, the health impacts of overturning Roe v.
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