Psyence Biomedical (NASDAQ: PBM) Stock Soars on Export and Clinical Trial Updates
Psyence Biomedical is making waves in the stock market after announcing export and clinical trial updates. The company is sending nature-derived psilocybin to Australia for testing as part of its upcoming Phase IIb clinical trial. This news has caused PBM stock to skyrocket by 162.6% on Thursday morning.
In a statement, Psyence Biomedical medical director Dr. Clive Ward-Able expressed excitement about the progress the company has made in preparing for its Phase IIb study. He mentioned that all parties involved are ready to kick off the study.
Currently, PBM stock is seeing heavy trading volumes, with more than 15 million units changing hands. This is a significant increase compared to its average daily trading volume of 931,000 shares.
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Analysis:
Psyence Biomedical’s announcement of exporting nature-derived psilocybin to Australia for clinical trials has led to a surge in its stock price. This development indicates the company’s progress in its drug development efforts and could potentially lead to positive outcomes in the future. For investors, this news highlights the importance of staying informed about company updates and industry trends to make informed investment decisions.