What's Going On With MindMed And Psychedelic Stocks?
Portfolio Pulse from Erica Kollmann
Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) shares are trading lower after the FDA panel rejected the approval of MDMA therapy for PTSD. Other psychedelic stocks, including ATAI Life Sciences N.V (NASDAQ:ATAI) and COMPASS Pathways Plc (NASDAQ:CMPS), are also down. The FDA panel expressed concerns about the study designs submitted by Lykos Therapeutics.
June 05, 2024 | 2:58 pm
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NEGATIVE IMPACT
ATAI Life Sciences shares are down 6.55% following the FDA panel's rejection of MDMA therapy for PTSD. The decision raises concerns about the regulatory environment for psychedelic therapies.
The FDA's decision impacts the broader sector of psychedelic therapies, including ATAI Life Sciences, leading to a decline in share price due to increased regulatory concerns.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
COMPASS Pathways shares are down 11.5% after the FDA panel rejected MDMA therapy for PTSD. The decision highlights the regulatory challenges faced by companies in the psychedelic therapy space.
The FDA panel's rejection affects the entire psychedelic therapy sector, including COMPASS Pathways, resulting in a significant drop in share price due to regulatory concerns.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Mind Medicine shares are down 15% after the FDA panel rejected the approval of MDMA therapy for PTSD. The panel expressed concerns about the study designs, impacting investor sentiment.
The FDA panel's rejection directly impacts MindMed's prospects for its MDMA therapy, leading to a significant drop in share price. The regulatory setback is a major concern for investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100