UK Greenlights Phase 2 Clinical Trial On Mindset Pharma's Psilocin Drug For Major Depression
Portfolio Pulse from Lara Goldstein
Mindset Pharma (OTCQB:MSSTF) has received approval from the UK's Medicines and Healthcare Products Regulatory Authority to begin a Phase 2 clinical study on its novel psilocin prodrug, MSP-1014, for the treatment of Major Depressive Disorder. The study will assess the safety and efficacy of MSP-1014 and is expected to provide a strong efficacy signal for the drug. The company's CEO sees this as a significant step towards becoming a clinical-stage biotech company focused on novel and patentable psychedelic-inspired therapeutics.
June 27, 2023 | 7:54 pm
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Mindset Pharma's approval for a Phase 2 clinical study on its novel psilocin prodrug could potentially boost its stock as it signifies progress in the company's drug development and a step closer to becoming a clinical-stage biotech company.
The approval for the Phase 2 clinical study signifies progress in Mindset Pharma's drug development. This could potentially attract investors as it shows the company is one step closer to becoming a clinical-stage biotech company, which could lead to an increase in its stock price.
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