Psychedelic drug developers rise after RFK Jr picked for top US health agency role

COMPASS Pathways

15/11/2024 17:18

(Updates)
    ** U.S.-listed shares of psychedelics-based drug developers
rise after President-elect Donald Trump selects Robert F.
Kennedy Jr. to lead the Department of Health and Human Services
    ** U.S.-listed shares of atai Life Sciences  9VC.F   ATAI.O 
rise 10%, while those of Compass Pathways  CMPS.O  and GH
Research  GHRS.O  gain 11% and about 1%, respectively
    ** Kennedy has previously criticized the U.S. FDA over its
"aggressive suppression" of psychedelics
    ** "He's been particularly passionate about the potential
use of psychedelics as mental health treatments. I'm also
encouraged by the fact that he's saying that he wants to see
these treatments being accessible in some regulated way," Cybin
CEO Doug Drysdale said
        ** Shares of Cybin  CYBN.N  up 6% in afternoon trade
  
    ** "RFK Jr seems positively inclined and sounds motivated to
help foster psychedelic drug development" - Jefferies analyst
Andrew Tsai said on Monday 
    ** Brokerage notes programs from cos such as ATAI, Compass
Pathways and GH Research that are using pyschedelic-based drugs

 

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com))