President Trump signed an executive order directing the FDA to prioritize review pathways for psychedelic drugs designated as Breakthrough Therapies, including psilocybin, MDMA and ibogaine for PTSD and treatment-resistant depression. The order also establishes a national voucher program aimed at expediting clinical trials and patient access to these therapies.

Atai Life Sciences, which is developing psilocybin and MDMA-based treatments, saw its shares surge in early Monday trading as investors anticipate faster FDA approvals and broader market opportunities. Analysts suggest the order could reduce Atai’s development timeline by several months, potentially enhancing the company’s valuation.