Psyence BioMed authorizes share buyback program

Psyence Biomedical Ltd. (NASDAQ: PBM) announced that its board of directors has approved a 2026 financial strategy that includes authorization for a share repurchase program. The biopharmaceutical company develops nature-derived psilocybin and ibogaine therapies for mental health conditions.

The board stated it believes the company's underlying value may not be reflected in the current market price of its common shares. The repurchase program may be implemented over the next six to twelve months, subject to maintaining adequate cash for clinical and regulatory milestones and operational liquidity.

Any share buybacks would be conducted through an independent third-party broker in compliance with securities laws and Nasdaq rules. The company is not obligated to repurchase shares, and the timing and amount of any repurchases will depend on market conditions, share price, and capital requirements.

The program may be modified, suspended, or terminated at any time. Repurchases would only proceed if the company maintains appropriate cash runway for planned clinical and regulatory activities and does not materially impair operational liquidity or near-term capital needs.

The board's decision followed a review of the company's financial position, capital structure, market conditions, and Nasdaq listing considerations. The strategy aims to protect shareholder value while preserving capital for planned clinical activities.

Psyence BioMed describes itself as a vertically integrated biopharmaceutical company specializing in psychedelic-based therapeutics and was the first life sciences biotechnology company focused on nature-derived psilocybin and ibogaine medicine to be listed on Nasdaq.

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