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"This Is Huge!": Trump Hails Ibogaine Application Gift Aimed At Helping Veterans With Mental Illness
Authored by Kimberley Hayek via The Epoch Times,
President Donald Trump said that the University of Miami has given its original 1994 investigational new drug application for ibogaine to the federal government, a move he said would accelerate development of the psychedelic substance as a treatment for serious mental illness.
The gift aims to speed work on the substance as a possible treatment for serious mental illness suffered by veterans.
The 1994 application was the original filing that made early research into ibogaine possible.
Trump made the announcement on Aug. 18 in a Truth Social post.
“Today I am announcing that Secretary Kennedy has received a Historic Gift from the University of Miami, who has given the Federal Government its original 1994 Ibogaine Investigational New Drug application,” he wrote.
“This will give everyone direct access to the foundational FDA authorization to accelerate its development as a medical treatment in the U.S. This is HUGE! Special THANK YOU to the University of Miami, who has done this to ensure that Americans are helped as quickly as possible.”
Trump tied the donation directly to an executive order he signed in April. That order sought to accelerate medical treatments for serious mental illness, with a specific focus on psychedelic drugs including ibogaine.
“In April, I signed a very important Executive Order to accelerate medical treatments for serious mental illness — Specifically, psychedelic drugs, including IBOGAINE,” the president wrote.
“This is something that has helped so many of our amazing VETERANS and true American Heroes who were here in the Oval Office with me, and Joe Rogan.”
Trump said the university’s action builds on steps already taken since April, including substantial Department of Health and Human Services (HHS) research funding, collaboration between HHS and the Department of Veterans Affairs, and Food and Drug Administration guidance.
The president stressed the need to move quickly to bring potential new treatments to market.
“We are moving FAST, so that our Veterans with serious mental illness have a RIGHT TO TRY here in the U.S.,” he wrote.
“We hope to see more companies and institutions join us in this very important work. Our Veterans DESERVE it!”
Health Secretary Robert F. Kennedy Jr. has fully supported the administration’s efforts to speed up experimental treatments.
“Thanks to the leadership of President Trump, under this historic Executive Order, @HHSGov will accelerate research, approval, and access to new mental health treatments, including psychedelic therapies such as ibogaine,” Kennedy said after the April order.
At a Senate hearing in April, Kennedy described ibogaine as the “most promising treatment for depression and PTSD that anybody’s ever seen.”
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La-Z-Boy Crashes Most Since 2022 As Frozen Housing Market Crushes Sofa Demand
La-Z-Boy shares suffered their steepest decline in 4.5 years on Wednesday after the furniture maker's second-quarter guidance missed expectations, providing even more evidence that weak housing turnover has suppressed demand for big-ticket discretionary goods such as sofas and recliners. With mortgage rates elevated and home prices near record levels, affordability remains severely stretched, keeping transaction volumes depressed, thus limiting replacement purchases that typically drive furniture demand.
La-Z-Boy forecasted second-quarter sales of $475.7 million, down 3% from a year earlier and well below the $537 million average analyst estimate tracked by Bloomberg. It forecast an adjusted operating margin of 3.9% to 4.8% and a reported operating margin ranging from negative .4% to 4.5%.
KeyBanc Capital Markets analyst Bradley Thomas said the company issued sales and implied earnings guidance below consensus, pressured partly by continued investment.
The soft guidance followed a weaker-than-expected first quarter. Adjusted earnings came in at 43 cents a share, compared with 47 cents one year ago and below the 49-cent analyst estimate. On a reported basis, La-Z-Boy lost 6 cents a share, compared with earnings of 44 cents a year earlier.
Sofas and recliners are considered highly deferrable purchases - non-essential goods. The stock's 14% plunge suggests investors view the dismal evidence as further evidence that households are delaying discretionary spending and that the trend will persist, with the 30-year fixed mortgage rate remaining around 6.7%.
The broader read-through is that dismal housing conditions have also dampened home-improvement demand at Home Depot and Lowe's, as confirmed in this week's earnings. Wayfair, RH, and Williams-Sonoma have also experienced sluggish demand for big-ticket household items.
La-Z-Boy is another canary in the coal mine, warning that America's frozen housing market continues to dampen consumer demand for big-ticket items. Last week, July retail sales were a major disappointment, with discretionary categories seeing sharp pullbacks. This all comes as the national average for gasoline at the pump is over $4 per gallon, continuing to dent consumer sentiment.
Tyler Durden Wed, 08/19/2026 - 11:10