Trump’s psychedelic drug order boosts investor interest with promise of faster reviews [Reuters]
Wednesday, May 20, 2026 1 min read
Key Takeaway: President Trump's executive order aims to expedite the development of psychedelic drugs, generating optimism among companies in the sector. Enveric Biosciences reported a $5 million capital raise in response to the announcement. However, experts warn that while investor interest is rising, the actual availability of new treatments is still distant.
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POSITIVE FACTORS
Trump's order could accelerate psychedelic drug development.
Enveric Biosciences raised $5 million following the announcement.
Increased investor interest may lead to more funding opportunities.
CONCERNS & RISKS
Researchers caution that new treatments are still a long way off.
The promise of new funds remains uncertain.
Full Press Release Details
U.S. President Donald Trump’s executive order to accelerate psychedelic drug development has raised hopes among companies developing the drugs that it could help attract more capital, but researchers cautioned that new treatments are still a long way off. Several companies said new funds are still just a hope, but Joseph Tucker, CEO of psychedelic drug developer Enveric Biosciences, told Reuters the company raised $5 million when the news of the Trump order emerged.
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Frequently Asked Questions
What did Trump's executive order aim to achieve?
The order aimed to accelerate the development of psychedelic drugs.
How much did Enveric Biosciences raise after the announcement?
Enveric Biosciences raised $5 million following the news.
What do researchers say about new psychedelic treatments?
Researchers caution that new treatments are still a long way off.
What is the current investor sentiment towards psychedelics?
Investor interest has increased, but actual funding remains uncertain.