Loading the records…
Loading the records…
The Freedom to Heal Act of 2025 removes a critical DEA regulatory barrier for Schedule I investigational psychedelic drugs under Right to Try laws. This directly benefits pure-play psychedelic therapy companies $CMPS, $GHRS, and $ATAI by enabling early patient access, revenue generation, and real-world data collection before full FDA approval. The bill is early-stage but has significant tailwind from an April 2026 Executive Order targeting psychedelic therapies for mental health.
Key takeaways, market implications, full AI analysis, and connected signals are available to HillSignal members.
Already have an account? Log in
The real market data shows a clear pattern: all three pure-play psychedelic tickers surged 15–53% over the 30 days leading to April 30, 2026, driven by the April Executive Order combined with Right to Try anticipation. The 7-day pullbacks ($CMPS -11.9%, $GHRS -4.05%, $ATAI -11.88%) are standard profit-taking after a regulatory rally. These stocks remain well above their 30-day open levels, suggesting structural buying interest. The bill's early-stage status means any committee hearing or markup announcement will trigger the next leg higher. Key catalyst calendar: Senate Judiciary Committee schedule in Q3–Q4 2026. $CMPS at $8.44 is 17% below its recent high of $10.21 and could retest that if the bill advances.
What happened: On December 4, 2025, Senator Cory Booker (D-NJ) introduced S. 3346, the Freedom to Heal Act of 2025. The bill amends the Controlled Substances Act to create a special DEA registration allowing physicians to directly administer Schedule I investigational psychedelic drugs to eligible patients under the federal Right to Try law (21 U.S.C. 360bbb-0a). The bill was read twice and referred to the Senate Committee on the Judiciary. An identical companion bill, HR 6434, was introduced in the House and referred to both the Energy and Commerce and Judiciary Committees. The bill is early-stage with two cosponsors (Booker and Paul), suggesting bipartisan framing.
The money trail: This bill does not authorize or appropriate any government funding. The financial impact is purely regulatory—it removes a barrier to patient access, enabling manufacturers to generate revenue from drug supply under Right to Try protocols. Patients (or their insurers) pay for the drug; the government facilitates the legal pathway. The April 2026 Executive Order on psychedelic therapies for mental health provides political tailwind, signaling administration support for the policy direction, but does not guarantee passage or appropriations.
Structural winners: The pure-play beneficiaries are $CMPS (COMPASS Pathways), $GHRS (GH Research), and $ATAI (AtaiBeckley)—companies whose primary business is developing Schedule I psychedelic compounds for mental health. $CMPS leads with COMP360 in Phase 3 for TRD; $GHRS is earlier-stage with GH001; $ATAI holds a multi-asset pipeline. These companies can now generate pre-approval revenue and collect treatment data outside clinical trials, reducing capital burn and accelerating clinical validation. Large pharma ($JNJ, $NVS) have minimal direct exposure—psychiatric units treat approved drugs, not investigational psychedelics.
Real market data: As of April 30, 2026, $CMPS trades at $8.44 (52-week range $2.25–$10.21), down 11.9% in 7 days but up 52.62% over 30 days—the 30-day surge aligns with the April Executive Order and growing Right to Try momentum. $GHRS at $19.43 (52-week range $9.46–$24.66) is down 4.05% in 7 days but up 38.19% in 30 days. $ATAI at $4.08 (52-week range $1.29–$6.75) is down 11.88% in 7 days but up 15.25% in 30 days. All three had a sharp rally in mid-April (peaking April 20–24) and are correcting on profit-taking, but remain well above 30-day lows. The 30-day gains of 15–53% reflect market anticipation of deregulatory progress.
Timeline: The bill is at the earliest legislative stage—committee referral. Path to law requires: (1) Judiciary Committee markup and vote, (2) Senate floor vote, (3) House companion markup and vote (Energy & Commerce, Judiciary), (4) conference committee, (5) presidential signature. With a companion bill and Executive Order support, odds are above-average for a first-term bill, but passage within this Congress (2025–2027) is uncertain. The Executive Order provides near-term regulatory tailwind independently of the bill.
Matched on shared policy language across AI analyses, with ticker & timing weight
Freedom to Heal Act of 2025
Veterans Health Administration Novel Therapeutics Preparedness Act
Innovative Therapies Centers of Excellence Act of 2025
Mental Health Research Accelerator Act of 2025
Executive orders & memoranda affecting the same sectors or companies
This executive order establishes a Women's Health Division within the NIH to coordinate and accelerate research on understudied women's health conditions, and creates a White House Women's Health Task Force to drive policy reforms and translation of research into clinical practice across federal agencies. It directs specific agencies to prioritize research, data collection, and translation into prevention, diagnosis, and treatment, with a focus on all life stages from infancy through aging.
This executive order directs the Secretaries of State, Labor, and Homeland Security to coordinate with Commerce, Education, and the SBA when processing H-1B petitions, and requires them to consider whether the employer has engaged in layoffs of similarly situated U.S. workers within the past year. It also orders the Labor Department to review past labor condition applications for potential enforcement actions against sponsoring employers, effectively tightening scrutiny on H-1B usage, especially by outsourcing firms.
This proclamation orders the Secretaries of War and Veterans Affairs to mandate rapid, ongoing digital sharing of military personnel and medical records, deploy AI-powered tools for benefits applications, and update existing IT contracts for interoperability. It also requires the Transition Assistance Program to connect separating service members to specific jobs or training programs before discharge.
Free — no credit card
HillSignal scores every Congressional bill, federal contract, and insider filing for market impact and emails you the high-conviction ones — free, no credit card.
Weekly digest — the congressional activity that actually moved markets that week, in plain English. Free, one email.
Free forever plan · No credit card · Unsubscribe in one click
Want the live terminal too? Create a free account →