The experimental drug developed by Australia-based Bionomics (ASX:BNOX) to treat post-traumatic stress disorder (PTSD) has shown promising results in a mid-stage study.

The company’s U.S.-listed shares quadrupled to $4.78, reaching a six-month high.

The introduction of the new treatment, BNC210, has helped minimize the severity of PTSD symptoms.

BNC210 has not only displayed improvements in reducing depressive symptoms but also has improved sleep.

The reception to BNC210 was positive overall; the drug was well tolerated by subjects during the study.

Bionomics (ASX:BNOX) confirmed its intention to conduct further studies on BNC210 for the treatment of PTSD.

However, it should be noted that before this upward trend, Bionomics' U.S.-listed shares had fallen by approximately 79% YTD.

Bionomics (ASX:BNOX) is an Australian bio-pharmaceutical company that specializes in developing innovative therapies for cancer and diseases of the central nervous system.