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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

7.69

Mkt cap

625M

Volume

4.6M

High

9.15

P/E Ratio

-4.16

52-wk high

12.22

Low

7.65

Div yield

N/A

52-wk low

2.41

MindMed reported a 2023 EPS of $(2.33) and a cash balance of $99.7 million as of December 31. The financial results indicate a significant loss per share but a strong cash position.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 12:07 pm

The article lists companies scheduled to report their earnings on February 28, 2024, including their expected earnings per share and revenue. It covers a wide range of sectors and provides a comprehensive overview of the financial performance expectations for these companies.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 11:24 am

Mind Medicine (NASDAQ:MNMD) is scheduled to release its quarterly earnings report on February 28, 2024, with an expected EPS of $-0.46. Analysts and investors are looking for an earnings beat and positive guidance for the next quarter. The company's past earnings performance shows a mixed record of beats and misses, with the share price reacting accordingly. Shares of Mind Medicine have increased by 60.09% over the last 52 weeks, indicating a generally positive outlook from long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 9:01 pm

A new study highlights the potential of psychedelics like LSD and magic mushrooms in improving sexual function. The FDA has accepted an NDA from Lykos Therapeutics for MDMA-assisted therapy for PTSD, marking a significant step towards integrating psychedelic therapies into mainstream medicine. Despite the growing interest and decriminalization efforts in several states, federal law still prohibits psilocybin. Canadian research supports psilocybin therapy for end-of-life distress, and a Washington doctor is challenging the DEA for approval to use it with terminally ill patients. The psychedelics sector, including companies like Numinus Wellness and various psychedelics stocks, shows signs of growth and investor interest.

Portfolio Pulse from Lara Goldstein

February 15, 2024 | 1:36 pm

Elon Musk's response to a Wall Street Journal article accusing him of using illicit drugs has sparked discussions. Meanwhile, Mind Medicine Inc. (NASDAQ:MNMD), a company developing psychedelic-inspired medicines, aims to transform mental health treatment. Despite a significant drop from its 2021 highs, MindMed's research into compounds like LSD and MDMA shows promise for treating various mental health issues without traditional pharmaceuticals. The company's stock has risen 12% in the past year but remains 94% below its peak.

Portfolio Pulse from Caleb Naysmith

February 05, 2024 | 5:04 pm

The FDA and the Reagan-Udall Foundation are hosting a virtual public meeting on psychedelic research to discuss clinical study design and development. The event will cover the FDA's guidance on psychedelic drug development, current research, and experiences from scientists in the field. The meeting will also address challenges in psychedelic studies, such as control conditions, dosing, and microdosing. Speakers from Mind Technology Inc. and Johnson & Johnson are included, with further discussions planned on regulatory considerations and real-world use of psychedelics.

Portfolio Pulse from Lara Goldstein

February 01, 2024 | 12:05 am

A new study suggests suggestibility plays a role in the antidepressant effects of psilocybin therapy. The EU has allocated $7M for psychedelic research for various disorders. In Australia, the first psychedelic-assisted medical treatments in 50 years were provided. Incannex Healthcare's CEO discussed the company's role in psychedelic-assisted therapies on the Benzinga Psychedelics Podcast. Psychedelics stocks showed varied performance, with COMPASS Pathways, GH Research, and Incannex Healthcare closing higher, while others like Seelos Therapeutics and Enveric Biosciences closed lower. The AdvisorShares Psychedelics ETF (PSIL) closed at $1.43.

Portfolio Pulse from Lara Goldstein

January 27, 2024 | 3:00 pm

MAPS Public Benefit Corporation, a subsidiary of MAPS, has raised over $100M in Series A funding to support FDA approval of MDMA for PTSD treatment. The U.S. Department of Veterans Affairs is funding psychedelic research for veterans with PTSD and depression. A list of 30 influential figures in psychedelics for 2024 was highlighted. Psychedelics policy reform is advancing in 13 states. Psychedelics stocks and ETFs showed varied performance, with some like GH Research and Atai Life Sciences closing higher, while others like Clearmind Medicine saw a decline.

Portfolio Pulse from Lara Goldstein

January 12, 2024 | 9:55 pm

Mind Medicine has filed a U.S. patent application (No. 20240010628) for the methods of manufacture of R-MDMA. This filing could potentially strengthen the company's intellectual property portfolio and provide a competitive edge in the development of therapeutic products based on R-MDMA.

Portfolio Pulse from Charles Gross

January 11, 2024 | 3:16 pm

The DEA has clarified that psychedelic mushroom spores are federally legal prior to germination as they do not contain psilocybin or psilocin. This clarification does not change the legal status of the spores, which are illegal in some states and may still be considered drug paraphernalia depending on their marketing or use. The DEA also discussed the legal status of marijuana seeds, delta-8 THC, and synthetic cannabinoids, indicating ongoing regulatory efforts and interpretations.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:41 pm

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