Phenylpiracetam (Phenotropil) is a nootropic of the racetam family, and as its name suggests it is a phenyl- derivative of piracetam. Phenylpiracetam is reported to be more neuroprotective than piracetam is, but also possesses psychostimulatory properties and is reported to enhance physical performance.
There is a fair bit of research to suggest that phenylpiracetam is effective, like other racetam drugs, in attenuating the rate of and symptoms of cognitive decline. Many of these studies use phenylpiracetam for over one month's time, and the benefits seen may only apply to organic causes of cognitive decline (dementia and stroke) rather than traumatic brain injury.
There is only one rat study noting cognitive enhacement in otherwise healthy young rats, and this study only noted benefit with the R-isomer (the racemic mixture, which is commonly sold, failed to outperform control). While cognitive enhancing propertes of phenylpiracetam in youth cannot be ruled out, they are possibly distinct from the psychostimulatory properties (which occur with said racemic mixture and the R-isomer).