Shares in psychedelic biotech companies will mostly trade sideways — neither crashing nor surging — through the third quarter of 2026. Without a major clinical trial result or an FDA decision, there is no big event to drive prices up. Big institutional investors are waiting on the sidelines until something concrete happens.
No hard catalyst today. MMED's pop is noise, not thesis. Institutional money sits out until binary events de-risk assets. Retail hype is exhausted.