This morning investors are quite likely to keep an eye on the Psycheceutical Bioscience Inc (OTCMKTS:BWVI) stock after it had clocked gains of as much as 17% following a key announcement.
On Tuesday, BWVI stock rose 17.73% to $0.1620 with 102.77K shares, compared to volume of 30.92K shares. The stock moved within a range of $0.1310 – 0.1620 after opening trade at $0.1450.
Psycheceutical Announces Julian Bailes, M.D. as Board Member and Chief Medical Officer
The company is involved in the development of advanced brain delivery technologies for the next wave of treatments in the mental health domain. On Tuesday, the company announced that it had appointed a Chief Medical Officer in the form of Dr Julian Bailes. In addition to that, Psycheceutical Bioscience further announced that Dr Bailes would also become a member of the board of directors of the company.
The news was greeted with considerable enthusiasm and led to the strong rally in the stock. It is going to be interesting to see if the stock can continue to add to its gains over the course of the rest of the week. Dr Bailes is going to be responsible for helping with the direction, strategy and execution of the technological and clinical development efforts related to Psycheceutical Bioscience’s patented dosing technologies.
The ultimate goal of the operations is to come up with effective and safe delivery methods for psychedelic pharmaceutical elements. It may be a good idea for investors to add the stock to their watch lists.
“Psycheceutical’s Board believes that given his extensive expertise in both clinical care and research, Dr. Bailes is ideally suited to oversee the company’s medical affairs as we prepare to initiate clinical trials for our novel drug delivery systems later this year,” said Chad Harman, CEO of Psychececutical.