NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- From Dr. Neil Maresky, CEO, Psyence BioMed (NASDAQ: PBM) Dear Shareholders, Thank you for your continued support as we advance our mission to develop safe, effective, and naturally derived psychedelic therapies for people living with serious mental health challenges. Over the past few months, Psyence BioMed (PBM) has made meaningful progress across several fronts: clinical development, strategic positioning, regulatory compliance, and manufacturing stability. Thes ...

Core Insights - Mind Medicine (MindMed) stock experienced an increase of over 8% following legislative developments in Connecticut regarding psilocybin decriminalization, contrasting with a 0.4% drop in the S&P 500 index [1] Legislative Developments - Connecticut's House of Representatives approved a bill to decriminalize psilocybin, with a narrow vote of 74 in favor and 65 against, which will now move to the state Senate for review [2] - If the bill passes, possession of up to half an ounce of psilocybin would incur only a $150 fine, eliminating jail time for violators [4] Therapeutic Benefits - Psilocybin has been recognized for its therapeutic potential in treating various mental health issues, including PTSD, addictions, depression, and anxiety disorders, as highlighted by state representative Steve Stafstrom [5] Public Sentiment and Industry Trends - There is a growing public support for the decriminalization of drugs and psychoactive substances, indicating a shift towards legalization that is already progressing in various jurisdictions across the U.S., which is favorable for companies like MindMed involved in psychedelic medicine [6]