Psychedelic Stocks Extend Rally on Prospect of Pro-Industry FDA

Shares of companies involved in psychedelic-related therapies are surging in Thursday trading, extending a two-day advance, on expectations of what a second Trump administration would mean for the industry.

• Among movers: Mind Medicine +15%, Atai Life Sciences +21%, Compass Pathways +12%, Cybin Inc +11%
• RBC Capital Markets analyst Brian Abrahams views a Trump administration as a net positive for health-care sector overall
  • “Our consultant expects FDA Commissioner and key personnel to be replaced with more pro-innovation, pro-industry administrators,” Abrahams writes in a note dated Wednesday
  • This, he says, could benefit biopharmas particularly those working on drug candidates with less straightforward ...