A new executive order targeting the acceleration of FDA reviews for psychedelic treatments has triggered a rally in mental health biotech stocks. AtaiBeckley saw its shares climb over 21% as the timeline for breakthrough therapies could shrink to just two months.
- President Trump directed health regulators to speed up psychedelic drug reviews
- Review timelines for breakthrough therapies could drop to 1-2 months
- AtaiBeckley (ATAI) stock rose over 21% on the news
- AtaiBeckley's BPL-003 nasal spray holds breakthrough therapy status
- Phase 3 trials for BPL-003 are expected to begin later this year
- Company market capitalization stands at roughly $1.8 billion
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