Mind Medicine Mindmed Inc. (NASDAQ: MNMD) stock gains by 11.29% at current trading. Mind Medicine Inc. is a psychedelic medicine biotech corporation that produces, manufactures, and distributes psychedelic-inspired medications and treatments to treat addiction and mental disease. MNMD is putting together a convincing drug discovery portfolio of psychedelic-based drugs. MNMD is pursuing the creation of the next wave of psychedelic-inspired drugs and therapies.
What is happening?
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Mind Medicine was listed on the NASDAQ on Tuesday of last week, leading its stock to burst by more than 50% compared to its pace earlier in the month. Investors should look forward to other big catalysts emanating from MindMed’s emerging technologies division and success in clinical trials over the next year without thinking about dilution from fundraising, given the present state of MNMD’s programs and its nearly $161 million in capital.
MNMD’s three flagship pipeline programs in phase 2 trials are by far the most significant catalysts for shareholders. Two of these projects use LSD to treat disorders including attention deficit hyperactivity disorder and paranoia, while the third uses a compound containing ibogaine, a naturally occurring psychoactive present in some herbs, to treat addiction. The LSD-for-anxiety trial’s Phase 2b will begin in Q4 of this year. MindMed will have to file an investigational new drug patent with the US Food and Drug Administration first. If the trial is approved by the Food and Drug Administration, investors may foresee a significant increase in stock price.
MNMD has plans to start a phase 2a proof of concept trial to see how microdosing LSD and psilocybin (magic mushrooms) can help adults with ADHD. The findings of its phase 1 trial for addiction using a compound extracted from ibogaine, however, may have the greatest possible stock effects. If all goes according to plan, investors should know by the end of the year whether the project will go on to the next step, provided that the trial is set to end in the third quarter.
MNMD is also working on a number of research initiatives that will enable it to extend its pipeline in the future. MindMed released new data on its customized MDMA (ecstacy) therapy initiative in early April. “The dosage of MDMA can be adjusted using predictors including body weight, sex, age, genetics, personality trait tests, and mood before drug administration,” according to the findings. If you’re a pharmacologist or a medical specialist, you may think the result is self-evident. For MindMed’s purposes, though, it’s a critical bit of information that will serve as the basis for further clinical trials into the use of MDMA to treat psychiatric disorders.