Psyence Biomedical Regains Nasdaq Compliance, Fortifying Market Position

Psyence Biomedical ( (PBM) ) has provided an announcement.

Psyence Biomedical Ltd. has regained compliance with all Nasdaq continued listing requirements after transferring from The Nasdaq Global Market to The Nasdaq Capital Market. This was achieved through a 75-for-1 share consolidation, meeting the $1 minimum bid price requirement. With a debt-free balance sheet and $5.6 million in cash, the company is now well-positioned to advance its business plans and clinical trials, having begun patient screening for the latter. This compliance restoration reinforces Psyence’s market position and assures stakeholders of its operational stability.

More about Psyence Biomedical

Psyence Biomedical Ltd. is a vertically integrated biopharmaceutical company focused on psychedelic-based pharmaceutical therapeutics. It is the first life science biotechnology company developing nature-derived psilocybin-based psychedelic medicines to be listed on Nasdaq. Psyence aims to address mental health disorders in the context of Palliative Care, using an evidence-based approach to develop safe, FDA-approved psychedelic therapeutics.

YTD Price Performance: -99.54%

Average Trading Volume: 2,341,176

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $2.69M

See more data about PBM stock on TipRanks’ Stock Analysis page.