PBM Stock On Track For Best Week In Over 2 Years On Hopes For Upcoming Executive Order To Ease Ibogaine Research

• CBS News reported on Thursday that President Trump is expected to sign the executive order as soon as this week.
• According to CBS, the executive order is meant to open the door to federal funding for further research on its effectiveness with PTSD and traumatic brain injuries, especially among veterans.
• PBM stock closed more than 100% higher on Thursday, and continued the rally on Friday.

Shares of Psyence Biomedical Ltd. (PBM) rallied 42% on Friday on the heels of a report that the White House is drafting an executive order that would signal the Trump administration's willingness to further U.S. research into the psychedelic compound called ibogaine.

PBM stock is on track to clock its best week in over two years, if gains hold.

Psyence CEO Jody Aufrichtig said on Friday that ibogaine has emerged as a compound of “increasing global interest,” adding that, “We welcome efforts to advance structured, evidence-based research that can more clearly define its safety, efficacy, and role in clinical care.”

The company also highlighted its strategic investment in Psylabs, a biopharmaceutical company based in Southern Africa which specializes in cultivation, extraction, and production of nature-derived psychedelic Active Pharmaceutical Ingredients.

In November, the company said that it has established a sustainable supply of high-potency iboga bark from trusted sourcing channels with deep experience in the iboga trade and treatment field through PsyLabs as it prepares for the clinical development of ibogaine for substance use disorders.

Upcoming Executive Order

On Thursday, CBS News reported, citing sources, that the federal government is going to look closely at ibogaine’s safety and effectiveness. However, the Trump administration does not intend to reclassify the drug for medical use, instead keeping it a Schedule I drug in the leagues of heroin, lysergic acid diethylamide (LSD), marijuana (cannabis), 3,4-methylenedioxymethamphetamine (ecstasy), methaqualone, and peyote that have no acceptable medical use, and high potential for abuse.

According to the report, President Trump is expected to sign the executive order as soon as this week. Following the report, PBM stock closed up over 100% on Thursday, and continued the rally on Friday.

Ibogaine is a psychoactive indole alkaloid derived from the West African Tabernanthe iboga shrub. Research into its therapeutic applications for post-traumatic stress disorder (PTSD), traumatic brain injury (TBI), and depression is ongoing,

According to CBS, the executive order is meant to open the door to federal funding for further research on its effectiveness with PTSD and traumatic brain injuries, especially among veterans, though it is unclear how the government will help facilitate further research.

How Did Retail Traders React?

On Stocktwits, retail sentiment around PBM stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume jumped from ‘high’ to ‘extremely high’ levels. According to platform data, retail chatter around the stock has jumped 13% over the past day.

PBM stock has lost about 94% over the past 12 months.  

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