Enveric Biosciences, Inc (NASDAQ:ENVB) stock is trading higher on Friday after the U.S. Food and Drug Administration (FDA) accelerated action on psychedelics as treatments.
The FDA on Friday outlined a set of regulatory steps aimed at accelerating the development of serotonin-2A agonists and related psychedelic-based therapies, signaling a more proactive stance toward addressing mental health disorders.
The steps follow the White House directive released last week.
FDA Prioritizes Psychedelic-Based Treatments
Robert F. Kennedy Jr., Secretary of Health and Human Services, said the initiative aligns with broader efforts to fast-track promising treatments.
He emphasized prioritizing therapies that have received Breakthrough Therapy designation, particularly those showing early signs of significant improvement over existing options.
The effort, he added, focuses on conditions affecting veterans.
The agency announced it will issue national priority vouchers to three companies currently studying psychedelic compounds.
These include psilocybin for treatment-resistant depression and major depressive disorder, as well as …Full story available on Benzinga.com
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