The Trump administration's April 2026 executive order in support of psychedelic drugs may have flown under the radar for many investors in the midst of the Iran war and numerous other high-profile domestic political news stories, but the implications for this small but growing industry are tremendous. Indeed, within days, the FDA began to make moves, awarding national priority vouchers to select companies developing drugs in this category, thereby reducing drug review times considerably.
Single-session wins were to be expected for some of the bigger players in the psychedelics industry, and sure enough, share prices for several of these companies skyrocketed. As time goes on, though, it will be up to these drug developers to prove that they have the medicines to back up the newfound hype. These are some companies that may be worth watching.
