Why Psyence Biomedical (PBM) Stock Is Skyrocketing

Psyence Biomedical Ltd PBM shares are trading higher by 48% to $0.58 during Thursday’s session after the company announced the export of nature-derived psilocybin to Australia and said a trial is projected to be initiated shortly following receipt of drug product by trial sites.

Psyence says the company has partnered with Fluence and iNGENū CRO Pty Ltd to support the study, which will involve 84 patients and compare two doses of psilocybin (10mg and 25mg) with a low-dose placebo (1mg) alongside psychotherapy.

The company is preparing to start the trial soon following the successful export of the drug candidate, PEX010, and is focusing on patient enrollment.

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How To Buy PBM Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Psyence Biomedical’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, PBM has a 52-week high of $4.31 and a 52-week low of $0.27.