In Australia’s first legal use of psilocybin for clinical care, researchers explored how it could help with demoralization—a form of existential distress common at the end of life. While not the same as depression, demoralization includes hopelessness, a loss of meaning, and desire for hastened death. The brief report highlights that psilocybin, combined with therapy, has shown lasting improvements in mood and meaning for patients with terminal illnesses, including effects lasting over 4 years after a single dose.