TLDR
- PBM stock surged as much as 203.8% on April 16, 2026, driven by news the White House is preparing an executive order to promote ibogaine research.
- The company expanded its Australian clinical trial network from three to five sites for its NPX-5 Phase IIb psilocybin study.
- PBM also delayed a previously announced 1-for-6.25 reverse stock split, keeping the stock trading on an unadjusted basis.
- The move is seen as micro-cap momentum driven by thin liquidity and speculative flows, rather than new fundamental data.
- PBM has a market cap of just $11.63 million and a GF Score of 20/100, with a profitability rating of 1/10.
Psyence Biomedical (PBM) had a wild day on April 16, 2026. The stock shot up more than 200% as investors piled in following news that the White House is preparing an executive order to promote research into ibogaine, a psychedelic compound studied for treating PTSD and other mental health conditions.
PBM closed the session up approximately 203.8%, according to Quiver PriceTracker. Earlier reports from GuruFocus put the intraday gain at around 105.96%.
The White House move signals a shift in how federal authorities are approaching psychedelic-based therapies. Ibogaine has drawn interest as a potential treatment for addiction and trauma, and the executive order would push for further scientific study.
PBM isn’t directly an ibogaine company — it focuses on natural psilocybin — but the broader regulatory tailwind for psychedelics lifted the stock hard.
Clinical Trial Expansion Adds to the Buzz
Alongside the macro news, PBM had its own story to tell. The company recently expanded its Australian clinical trial network from three to five sites. This supports ongoing Phase IIb activities for NPX-5, its natural psilocybin product candidate targeting Adjustment Disorder in cancer patients receiving palliative care.
The expansion is aimed at boosting patient recruitment and continuing dosing across the program. Details were filed with the SEC via a Form 6-K in April 2026.
There was no new efficacy or safety data released on April 16 itself. Analysts note the move was momentum-driven, with thin liquidity amplifying the price swing.
The company also confirmed it postponed a previously announced 1-for-6.25 reverse stock split. Until a new effective date is set, PBM continues to trade on an unadjusted basis. That move kept the float small and likely added fuel to the squeeze-like action.
What the Numbers Say
PBM is a micro-cap with a market cap of just $11.63 million. The stock was trading around $5.08 before the surge — well off its 52-week high of $74.94.
Its GF Score stands at 20 out of 100. Financial strength rates 8/10, but profitability comes in at just 1/10. The company has no P/E ratio due to negative earnings.
Institutional interest is thin. In Q4 2025, five funds cut or exited their positions. Parallel Advisors removed all 151,250 of its PBM holdings. UBS Group was the lone new buyer, adding 1,007 shares.
No insider buying or selling has been reported in the past twelve months.
The company operates a federally licensed psilocybin cultivation facility in Southern Africa and exports products to partners globally.
As of April 16, 2026, PBM remains pre-revenue and pre-profitability, with its clinical program still in mid-stage trials.
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