On April 20, President Trump signed an Executive Order to expedite research and approvals for psychedelic drugs to treat serious mental illnesses. NRx Pharmaceuticals welcomed the order as it supports their drug pipeline for depression and suicidality. IGC Pharma secured authorization to research psilocybin, expanding its focus on neuropsychiatric symptoms in Alzheimer's disease. Enveric Biosciences stock surged over 92% in premarket trading, sparking a sector-wide rally in psychedelic-focused biotech companies.
