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

A coalition of prominent researchers has urged the FDA to approve MDMA-based therapy for PTSD, highlighting its proven safety and efficacy. This comes as the FDA is set to rule on Lykos Therapeutics' MDMA therapy by August 11. The paper emphasizes the urgent need for effective PTSD treatments, citing high suicide rates among U.S. military veterans.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 6:51 pm

MindMed (MNMD) will be included in the Russell 2000 and Russell 3000 indexes, effective today. This inclusion is likely to increase the stock's visibility and attract more institutional investors.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 11:13 am

Ovax Inc. has secured $10 million in funding to develop a groundbreaking fentanyl vaccine aimed at preventing fatal overdoses. The startup, founded by JR Rahn, who previously founded Mind Medicine Inc. (NASDAQ:MNMD), plans to begin human trials early next year. The vaccine aims to neutralize fentanyl's effects before they manifest, unlike naloxone which reverses overdoses after they occur.

Portfolio Pulse from Maureen Meehan

June 26, 2024 | 10:58 pm

Cantor Fitzgerald analyst Charles Duncan has reiterated an Overweight rating on Mind Medicine (NASDAQ:MNMD).

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 4:31 pm

MindMed has completed an end-of-phase 2 meeting with the FDA and reached alignment on the Phase 3 development strategy for MM120 in treating Generalized Anxiety Disorder (GAD). The company plans to initiate the Phase 3 clinical program in the second half of this year.

Portfolio Pulse from Benzinga Newsdesk

June 20, 2024 | 11:13 am

Oregon's pioneering psilocybin industry is struggling to attract customers a year after its launch. Despite the initial excitement, the industry faces challenges such as regulatory hurdles, marketing restrictions, and competition. Some service centers have already closed, and more may follow. Entrepreneurs and facilitators are working to raise awareness and adapt to the competitive market.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 6:07 pm

FDA advisors rejected MDMA for PTSD treatment, causing a significant drop in psychedelic stocks. Cybin Inc (CYBN), Mind Medicine (MNMD), ATAI Life Sciences (ATAI), and AdvisorShares Psychedelics ETF (PSIL) all saw declines. The ruling is a setback for the industry, though the FDA is not bound by the advisory board's recommendation.

Portfolio Pulse from Aaron Bry

June 05, 2024 | 7:26 pm

Lands' End, Inc. (NASDAQ:LE) shares fell 9.3% to $12.60 after reporting a quarterly adjusted loss of 20 cents per share, which beat the analyst consensus estimate of 26 cents per share. The company also reported quarterly sales of $285.47 million, surpassing the analyst consensus estimate of $269.82 million. Other notable stock movements include Actelis Networks, Inc. (NASDAQ:ASNS) jumping 512% after announcing orders for cyber-hardened networking technology, and WalkMe Ltd. (NASDAQ:WKME) gaining 42.1% after entering into a definitive agreement to be acquired by SAP.

Portfolio Pulse from Avi Kapoor

June 05, 2024 | 5:04 pm

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.

Portfolio Pulse from Erica Kollmann

June 05, 2024 | 2:58 pm

RBC Capital analyst Brian Abrahams has reiterated an Outperform rating on Mind Medicine (NASDAQ:MNMD) and maintained a price target of $22.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 2:47 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.