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

HC Wainwright & Co. analyst Patrick Trucchio maintains a Buy rating on Mind Medicine (MNMD) but lowers the price target from $75 to $35.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 7:39 pm

Mind Medicine (MindMed) Inc. presented new studies at ISPOR 2024, demonstrating the significant economic and societal impact of Generalized Anxiety Disorder (GAD) in the U.S. The studies, based on data from the 2022 National Health and Wellness Survey, showed that GAD increases healthcare costs, decreases work productivity, and lowers health-related quality of life. The impact is more severe in undiagnosed cases. MindMed is developing novel treatments for GAD and other brain health disorders.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:56 pm

Mind Medicine (MNMD) reported a Q1 2024 GAAP EPS loss of $(1.14), missing the consensus estimate of $(0.53) by 115.09%. This represents a 75.38% increase in losses compared to the same period last year, where losses were $(0.65) per share.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:03 pm

MindMed unveiled Phase 2b data of MM120 for Generalized Anxiety Disorder at the APA Annual Meeting, showing significant clinical benefits over placebo. The drug achieved a 65% clinical response rate and a 48% remission rate at 12 weeks. Additionally, MindMed presented two new studies on the burden of GAD in the US.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 7:47 am

The article provides a comprehensive roundup of recent developments in the psychedelics field, including research findings, global regulatory perspectives, therapeutic applications, and business news. Key highlights include potential roles of psilocybin in dementia prevention and psychological flexibility, global legalization trends, and various companies' strategic moves such as voluntary delistings, partnership agreements, financial results, and patent filings related to psychedelic therapies.

Portfolio Pulse from Lara Goldstein

April 17, 2024 | 1:13 pm

Leerink Partners analyst Rudy Li initiates coverage on Mind Medicine (MNMD) with an Outperform rating and a price target of $20.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:30 pm

Roblox Corporation (RBLX) shares rose 2.6% following efforts to boost advertising sales. Other stocks like Dogness (DOGZ), Murano Global Investments (MRNO), and Aurora Cannabis (ACB) also saw significant gains. TAL Education Group (TAL) and others are expected to release financial results soon, contributing to their stock movements.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 2:56 pm

Simulations Plus, Inc. (SLP) shares surged 8.9% in pre-market trading after reporting Q2 earnings and sales above market expectations, and providing optimistic FY24 guidance. Other stocks like Destiny Tech100 Inc. (DXYZ), Cronos Group Inc. (CRON), MacroGenics, Inc. (MGNX), Mind Medicine (MindMed) Inc. (MNMD), Levi Strauss & Co. (LEVI), BlackBerry Limited (BB), Aurora Cannabis Inc. (ACB), and Lamb Weston Holdings, Inc. (LW) also saw significant pre-market gains following positive earnings reports, guidance updates, or previous session jumps.

Portfolio Pulse from Avi Kapoor

April 04, 2024 | 9:18 am

MindMed has announced a voluntary delisting of its common shares from Cboe Canada. However, its shares will continue to be listed on the Nasdaq. This move could streamline operations and potentially focus the company's trading activity on a more global platform.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 9:28 pm

Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

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