Psychedelics have been growing in popularity across North America for recreational and therapeutic use, with celebrities like Kristen Bell and Aaron Rodgers publicly sharing their experiences.

AbbVie said a recently acquired drug candidate for schizophrenia missed the key goal in mid-stage studies, pushing its stock sharply lower. Phase 2 studies for emraclidine failed to show a statistically significant improvement in symptoms after six weeks,

AbbVie said on Monday that an experimental schizophrenia drug it gained through an $8.7 billion deal for Cerevel Therapeutics failed two mid-stage studies, sending the drugmaker's shares plunging 12.5% in early trading.