Another week, another round of developments across psychedelic medicine. Below is our recap of what mattered to investors for the week of April 20–26, 2026.
Helus Pharma (formerly Cybin) (HELP): Helus Pharma CEO Michael Cola steps down; co-founder Eric So returns as interim CEO
Helus Pharma (the rebranded Cybin) said Michael Cola stepped down as CEO, effective immediately, at the board's request, with co-founder and Executive Chairman Eric So resuming the interim CEO role while a search proceeds. The leadership change came as the company advances its late-stage psychedelic pipeline, including an anticipated Q4 topline readout from the APPROACH Phase 3 trial of HLP003 (formerly CYB003) in depression. The abrupt transition injected management uncertainty at a pivotal moment for the company.
Source: globenewswire.com
PharmAla Biotech Holdings Inc. (MDMA): PharmAla positions its GMP MDMA to supply new U.S. expanded-access pathway
PharmAla Biotech said the executive order's directive to establish access pathways for investigational psychedelics plays to its strengths, noting it already has GMP-grade LaNeo MDMA present in the U.S. and supplying programs including VA and Defense Health Agency channels. The company said it operates a commercial MDMA supply operation through its Australian joint venture and is advancing its next-generation ALA-002 candidate. PharmAla framed itself as a ready supplier as U.S. expanded-access demand potentially grows.
Source: globenewswire.com
Optimi Health Corp. (OPTHF): Optimi Health launches ibogaine initiative after U.S. executive order
Optimi Health said it is extending its Health Canada-licensed GMP manufacturing platform to include ibogaine, having secured naturally derived supply from two sources in both hydrochloride and freebase form. The company plans 50 mg and 100 mg encapsulated dosage formats, positioning itself to support research after the executive order named ibogaine among prioritized compounds. The initiative broadens Optimi's psychedelic manufacturing beyond psilocybin and MDMA.
Source: stocktitan.net
Incannex Healthcare Inc. (IXHL): Incannex says its PSX-001 psilocybin program aligns with the executive order
Incannex said its PSX-001 oral synthetic psilocybin program for generalized anxiety disorder fits the executive order's priorities. The company cited completed Phase 2 results showing a 12.8-point HAM-A anxiety reduction versus 3.6 points for placebo, a 44% clinically meaningful response rate and a 27% remission rate sustained through 11 weeks, with no serious adverse events across 73 patients. Incannex said it holds over $70 million in cash, no debt and an active U.S. IND.
Source: globenewswire.com
Definium Therapeutics, Inc. (DFTX): Definium hosts Investor Day, details DT120 Phase 3 plans and PTSD expansion
At an Investor and Analyst Day in New York, Definium Therapeutics detailed its DT120 (MM120) clinical and commercial strategy, reiterating three anticipated Phase 3 readouts across MDD and GAD in 2026. The company also announced a program expansion with a planned Phase 3 Haven study in PTSD, enrolling roughly 200 patients randomized 1:1 to DT120 100 µg or placebo. The event underscored Definium's ambition to broaden LSD-based therapy across multiple psychiatric indications.
Source: stocktitan.net
Psyence Biomedical Ltd. (PBM): Psyence doses first patient in Phase 2b psilocybin trial for cancer-related adjustment disorder
Psyence Biomedical said the first patient was dosed in its Phase 2b trial evaluating NPX-5, a 25 mg nature-derived psilocybin product, for adjustment disorder in cancer patients in palliative care. The milestone follows the company's recent expansion of its Australian site network. The dosing marks tangible clinical progress for one of the smaller Nasdaq-listed psychedelic developers amid heightened sector attention.
Source: sec.gov
Compass Pathways plc (CMPS): FDA grants Compass rolling NDA review and a National Priority Voucher for COMP360
Compass Pathways said the FDA granted its request for rolling review of the COMP360 psilocybin NDA and selected the program for the Commissioner's National Priority Voucher (CNPV) program in treatment-resistant depression. The voucher promises enhanced FDA communication and a compressed one-to-two-month review after filing. Compass is targeting a rolling NDA submission in Q4 2026, and the designation materially raises the odds of an earlier approval decision.
Source: ir.compasspathways.com
That's the recap. Follow the Psychedelic Invest Index for how the sector is trading, and check back next week for the next edition.