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

6.65

Mkt cap

466M

Volume

893K

High

6.65

P/E Ratio

-4.12

52-wk high

12.22

Low

6.22

Div yield

N/A

52-wk low

5.03

Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) for psychedelics R&D. A new bill in Congress aims to discourage federal intervention in states that legalize or decriminalize psilocybin mushrooms. Enthea, a healthcare benefits administrator, is expanding its network to include psychedelic-assisted therapies in health benefit plans. Magdalena Biosciences, Jaguar Health (NASDAQ:JAGX) and Filament Health (OTC:FLHLF) are developing plant-based medicines for mental health indications. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.70 on Sept. 18, slightly below previous openings.

Portfolio Pulse from Lara Goldstein

September 26, 2023 | 1:28 pm

The article discusses recent developments in the field of psychedelic medicine, including new data from MAPS PBC's Phase 3 clinical study of MDMA-assisted therapy for PTSD, a study suggesting that combining MDMA with psilocybin or LSD could reduce difficult trips, and the House Rules Committee's vote on psychedelics amendments. It also mentions Scotland's approval of a pilot safer drug consumption site, and various milestones in the psychedelic drugs market. The article also provides an update on the performance of the AdvisorShares Psychedelics ETF (PSIL) and several psychedelic stocks.

Portfolio Pulse from Lara Goldstein

September 18, 2023 | 10:06 pm

Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) through his Point72 asset management firm, which now owns over 8% of Cybin's stock. This is Point72's first public position in a psychedelics company. In other news, billionaire Blake Mycoskie has updated on his $100 million pledge for psychedelics research, stating that he has already donated $11 million, including investments in MindMed (NASDAQ: MNMD), atai Life Sciences (NASDAQ:ATAI), and MAPS PBC.

Portfolio Pulse from Lara Goldstein

September 18, 2023 | 7:10 pm

NY-based consulting firm Research Nester predicts the global market for psychedelic substances will grow at a CAGR of around 14% over the next 12 years, reaching $12 billion by 2035. The report features key players such as COMPASS Pathways, Silo Pharma, Numinus Wellness, Cybin, Mind Medicine, PharmaTher Holdings, atai Life Sciences, Jazz Pharmaceuticals, Janssen Pharmaceuticals, and Pfizer. The growth is attributed to increased demand for psychedelic drugs to treat mental health issues, reduced production costs due to the pandemic, and increased investment in R&D.

Portfolio Pulse from Lara Goldstein

September 12, 2023 | 8:35 pm

MindMed (NASDAQ:MNMD) has completed the enrollment and dosing phase of its Phase 2b trial, Study MMED008, which is researching the effectiveness of MM-120 in treating Generalized Anxiety Disorder (GAD). The trial recruited 198 participants across 20 clinical sites. The primary objective of the study is to establish the dose-response correlation among four MM-120 doses compared to a placebo. Top-line results are expected in Q4 2023.

Portfolio Pulse from The Dales Report

September 12, 2023 | 4:59 pm

MindMed has completed the enrollment for its Phase 2b trial of MM-120, a drug aimed at treating Generalized Anxiety Disorder (GAD).

Portfolio Pulse from Bill Haddad

September 12, 2023 | 11:37 am

The Usona Institute has shared positive results from its Phase 2 trial assessing a single 25mg synthetic psilocybin dose for adults with Major Depressive Disorder. COMPASS Pathways (NASDAQ:CMPS) has also shared results from research on its novel AI technologies to support proprietary COMP360 psilocybin treatment for Treatment-Resistant Depression. In the UK, drug policy reform is underway, with a report urging the reclassification of psilocybin mushrooms and other psychedelics to Schedule 2. Several US states are also moving reform bills concerning the study or legalization of psychedelic substances for therapeutic purposes. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.79 on September 5, recovering from the prior week’s $1.65.

Portfolio Pulse from Lara Goldstein

September 11, 2023 | 1:34 pm

Several mergers and acquisitions have been announced in the psychedelics sector. Cybin (NYSE:CYBN) is acquiring Small Pharma (OTC:DMTTF), Silo Wellness (OTC:SILFF) is buying NUGL Inc./Kaya Group (OTC:NUGL), and Mindset Pharma (OTC:MSSTF) is being acquired by Otsuka America Inc., part of Otsuka Holdings (OTC:OTSKF). Additionally, Psyched Wellness (OTC:PSYCF) is set to receive $7.5M in financing. The AdvisorShares Psychedelics ETF (NYSE:PSIL) has seen a slight increase in its share price.

Portfolio Pulse from Lara Goldstein

September 05, 2023 | 2:08 pm

A recent study published in the Journal of the American Medical Association suggests that a single dose of psilocybin, a psychedelic compound produced by certain types of mushrooms, may have lasting benefits for people with major depressive disorder. The study adds to the growing body of evidence supporting the potential efficacy of psilocybin for depression treatment.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 3:08 pm

Several studies and trials are set to assess the use of psilocybin-assisted therapy for various addictions and pain management. Former NHL player Kyle Quincey is building a psilocybin-assisted therapy center in Colorado. GH Research, Cybin, Enveric Biosciences, Red Light Holland, Incannex Healthcare, and Sunstone Therapies have made significant advancements in their respective programs. The AdvisorShares Psychedelics ETF has seen a consistent lowering trend in its price. GH Research, COMPASS Pathways, Mind Medicine, Bright Minds Biosciences, Enveric Biosciences, Silo Pharma, atai Life Sciences, Incannex Healthcare, FSD Pharma, and Seelos Therapeutics saw varied closing prices.

Portfolio Pulse from Lara Goldstein

August 28, 2023 | 8:07 pm

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