Health
Investors Warm Up to Psychedelics as FDA Reviews Treatment for PTSD
- Funding had dried up in 2023, but interest is returning
- More confidence in biotech, and upcoming trial results cited
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Companies developing psychedelic drugs are no longer seen as niche investments with key regulatory decisions on the horizon.
Six months ago, investors “couldn’t get comfortable” with psychedelics, said Michael Jiang, a senior managing director at Guggenheim Partners, an investment bank with a focus on health care and biotech. Jiang, who spoke at a conference on the topic in New York City Thursday, said attitudes are changing as interest in the biotech sector rises.