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

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

Steve Cohen, owner of NY Mets, has purchased over 119 million shares of Bionomics Limited (BNOX) through his Point72 asset management firm, showing continued support for the biopharma sector. Bionomics Limited is a clinical-stage biopharmaceutical company based in Australia, currently trading on the Nasdaq and Frankfurt Stock Exchange. The company recently announced its plans to delist from the Australian Securities Exchange (ASX) following a U.S.-focused transformation plan. In other news, the AdvisorShares Psychedelics ETF (PSIL) opened at $1.62 on Monday, Oct. 2, and closed at $1.53 on Friday, Oct. 6.

Portfolio Pulse from Lara Goldstein

October 06, 2023 | 9:07 pm

Mind Medicine (MindMed) Inc (NASDAQ:MNMD) announced the upcoming presentation of preclinical data of MM-402, its proprietary form of the R-enantiomer of 3,4-Methylenedioxymethamphetamine (MDMA), in a model for autism spectrum disorder (ASD) at the 36th Annual ECNP Congress. The company plans to initiate its first clinical trial of MM-402 in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 11:31 am

The article discusses recent developments in the field of psychedelic therapies for mental health disorders. Small Pharma's (OTC:DMTTF) Phase 1b study on DMT and SSRIs for major depressive disorder (MDD) has released new findings. TheraPsil, a Canadian non-profit, has launched an MDMA-assisted psychotherapy training program. Apex Labs' psilocybin macrodose drug protocol has been approved for a Canadian veteran's treatment-resistant depression. The AdvisorShares Psychedelics ETF (NYSE:PSIL) has been on a slow downtrend. Other companies mentioned include GH Research (NASDAQ:GHRS), COMPASS Pathways (NASDAQ:CMPS), Mind Medicine (NASDAQ:MNMD), Enveric Biosciences (NASDAQ:ENVB), Bright Minds Biosciences (NASDAQ:DRUG), Silo Pharma (NASDAQ:SILO), Atai Life Sciences (NASDAQ:ATAI), FSD Pharma (NASDAQ:HUGE), Incannex Healthcare (NASDAQ:IXHL), Lucy Scientific Discovery (NASDAQ:LSDI), and Cybin Inc. (NYSE:CYBN).

Portfolio Pulse from Lara Goldstein

October 02, 2023 | 1:46 pm

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

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