PSYENCE BIOMEDICAL LTD.

Analysis for Ticker: PBM

Psyence Biomedical Ltd operates a clinical-stage biotechnology business focused on making therapeutics from natural psilocybin and ibogaine for patients needing palliative care. The financial reality is a company that spent 41,4$ million just to join the stock market but has never sold a single pill. Imagine a bakery that spends all its money on a shiny storefront but has no flour or customers. The current math is a disaster because every dollar an investor puts in is being siphoned off by the bosses to buy private companies they already own. In 11/2024, the company began running out of money. To stop their falling stock price from getting them kicked off the exchange, they combined every 75 shares into one share. By 05/2025, they were forced to do it again, combining 7,97 shares into one share. Despite erasing all these shares, their 06/2025 records showed they had lost over 56,4$ million since the beginning. While they only spent 342.168$ on medical science, they gave 1,62$ million to consultants and 1,21$ million to lawyers and office managers.