Psyence Biomedical (PBM) stock surged on Monday after the psychedelic medicines company released a corporate update. The company excited investors when it revealed “meaningful progress across several fronts: clinical development, strategic positioning, regulatory compliance, and manufacturing stability.”
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The big news in this update included changes to its clinical trial program. Psyence Biomedical announced a protocol update that removes the requirement for a cancer diagnosis to be terminal that was submitted to the Human Ethics Review Board (HREC). It also said that three clinical sites have been activated after successful qualification visits.
Psyence Biomedical Stock Movement Today
Psyence Biomedical stock rocketed 81.87% in pre-market trading on Tuesday, following a 53.08% fall on Friday. The shares have also decreased 85.97% year-to-date and 88.24% over the past 12 months. Today’s news came with heavy trading of PBM stock, with some 14 million shares traded, compared to a three-month daily average of about 1.38 million units.
