Streetbeat News

MNMD

Mind Medicine (MindMed) Inc.

https://www.mindmed.co

Industry

Biotechnology

Mind Medicine (MindMed) Inc., a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders related to psychiatry, addiction, pain, and neurology. The company develops MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder, as well as for the treatment of chronic pain; and MM-110, an a3ß4 nicotinic cholinergic receptor antagonist that has completed phase 1 for the treatment of opioid withdrawal. It also develops MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine for the treatment of core symptoms of autism spectrum disorder. The company is headquartered in Vancouver, Canada.

Open

9.00

Mkt cap

569M

Volume

5.5M

High

9.85

P/E Ratio

-4.54

52-wk high

12.22

Low

7.73

Div yield

N/A

52-wk low

2.44

Mind Medicine's stock price surged after a Q3 update confirmed unchanged clinical timelines. The market's bullish stance is also influenced by a competitor's recent difficulties, positioning Mind Medicine as a favored choice in the psychedelics sector.

Portfolio Pulse from

November 10, 2024 | 3:15 pm

Mind Medicine (MindMed) Inc. held its Q3 2024 earnings call, discussing financial results and corporate updates. Key participants included company executives and analysts from various financial institutions.

Portfolio Pulse from

November 08, 2024 | 1:15 am

The DEA is proposing significant increases in production quotas for marijuana compounds and psychedelics like psilocybin and ibogaine to support research and clinical trials. This move reflects growing interest in these substances for medical and scientific purposes.

Portfolio Pulse from Benzinga Newsdesk

September 23, 2024 | 5:41 pm

Canaccord Genuity has maintained its Buy rating on Mind Medicine (NASDAQ:MNMD) but has lowered the price target from $16 to $14.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 2:19 pm

The global psychedelic drugs market is expected to grow by $1.37 billion from 2024 to 2028, driven by mental health disorders and AI integration. Key players include AbbVie, ATAI Life Sciences, COMPASS Pathways, Johnson & Johnson, Pfizer, and Mind Medicine. Despite growth potential, regulatory challenges and ethical concerns remain.

Portfolio Pulse from Juan Spínelli

September 05, 2024 | 4:53 pm

HC Wainwright & Co. has maintained a Buy rating on Mind Medicine (NASDAQ:MNMD) and increased the price target from $35 to $55, indicating a positive outlook for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 12:02 pm

Mind Medicine (MNMD) reported a Q2 2024 GAAP EPS of $(0.26), beating the estimate of $(0.33). The company has a cash balance of $243.1M and recently closed a public offering of $75M in gross proceeds, which is expected to provide a cash runway into the first half of 2026.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 11:07 am

Mind Medicine (MindMed) (NASDAQ:MNMD) announced a public offering of 9.29 million shares at $7.00 per share, aiming to raise $75 million. The proceeds will support R&D, working capital, and general corporate purposes. The offering is expected to close on August 12, 2024. MindMed also issued a new patent for MM120, extending IP protection through 2041. Shares traded 2.32% lower at $6.75 during Monday's pre-market session.

Portfolio Pulse from Nina Zdinjak

August 12, 2024 | 4:15 pm

Mind Medicine shares are trading lower following the announcement of a $75 million public offering of common shares and pre-funded warrants.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 4:53 pm

MindMed has announced the pricing of a public offering of 9.29 million common shares at $7.00 per share and 1.43 million pre-funded warrants at $6.999 per warrant, expecting to raise approximately $75 million. The funds will be used for research and development as well as general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 12:45 pm

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