Elon Musk Once Said Psychedelics Could Help PTSD — Now FDA Holds Hearing as Optimi Health Advances MDMA Trial

Shares of Optimi Health Corp. (NASDAQ:OPTH) and other commercial manufacturers of MDMA and psilocybin are in focus, following federal administrative actions, a public hearing on psychedelic medicines, and an old endorsement of these drugs by tech billionaire Elon Musk. Optimi Health Commercial Operations Canada-based Optimi operates as a licensed commercial producer of both MDMA and psilocybin. The company manufactures and exports pharmaceutical-grade doses to authorized medical programs. In January 2025, Optimi Health said that it had increased its 2025 production forecast to supply enough MDMA capsules for over 5,000 patients globally. The company announced on Wednesday that patients in Australia began receiving Optimi-manufactured MDMA capsules in October 2024 under the country’s Authorized Prescriber Scheme. Globally, Optimi Health said on Wednesday that it has announced plans to launch a Health Canada-authorized Phase 3 clinical trial in 2027 evaluating MDMA-assisted therapy for PTSD in up to 100 veterans and frontline workers. The expansion coincides with growing economic analysis of mental health care costs, with a 2018 study placing the annual economic burden of PTSD in the United States at $232.2 billion, according to the National Institutes of Health. To fund its production capacity, Optimi Health completed a $15 million public offering in May 2026 alongside its listing on the Nasdaq exchange. Read Also: Elon Musk's 'Exploratory Journeys' And Charts Explaining Benefits Of Psychedelics Over Alcohol FDA Focused on Psychedelics’ Medicinal Use After Trump’s Order On Sept. 14, 2026, the U.S. Food and Drug Administration (FDA) convened a Part 15 public hearing titled “Considerations for Potential Future Therapeutic Use of Psychedelic Drugs.” The hearing comes months after President Donald Trump signed Executive Order 14401 in April 2026, directing federal agencies to accelerate research and regulatory pathways for potential psychedelic treatments for serious mental illnesses. Musk Statements on Psychedelics The policy shift follows an old 2022 public commentary from Musk stating on X that “Psychedelics and MDMA can make a real difference to mental health, especially for extreme depression and PTSD. We should take this seriously.” In a podcast interview, Musk emphasized that “some of the psychedelics can be pretty helpful for PTSD…and depression,” adding that “psychedelics are like way better for treating depression.” Complementing his public support, The Wall Street Journal reported that key figures in Musk’s inner circle — including Space Exploration Technologies Corp. directors Antonio Gracias and Steve Jurvetson, alongside Tesla Inc. director Kimbal Musk — have spent millions of dollars on psychedelic research and philanthropic initiatives. Psychedelics and MDMA can make a real difference to mental health, especially for extreme depression and PTSD. We should take this seriously.— Elon Musk (@elonmusk) June 10, 2022 How Has OPTH Performed in 2026? Price Action: With a market cap of $28.057 million, at the last check, the OPTH stock was trading 0.61% higher in overnight trading. It was down 10.91% since its U.S. listing in May 2026, up 2.30% over the last month, and up 12.64% over the last five days. Benzinga’s Edge Stock Rankings indicate that OPTH maintains a strong price trend in the short, medium and long terms. Read Also: Elon Musk Says, 'If Drugs Helped My Productivity I'd Take Them' — This Psychedelic Bio-Tech Company Hopes To Help Build That Future Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock