MindMed (Nasdaq: MNMD) (NEO: MMED) (DE: MMQ) (the “Company”) is an industry-leading biotech company engineering psychedelic-inspired therapies. The company is developing a combinatorial approach to treating mental illnesses with hallucinogenic (e.g., LSD) and non-hallucinogenic (aka “microdosing”) therapies in clinical settings. MindMed's core philosophy is that a coordinated effort between therapists, drug developers, and patients is needed to develop personalized, precision treatments on a patient-by-patient basis.
The company believes that symptom management is unacceptable, and patients deserve treatments that put an end to their mental afflictions. To this end, MindMed has formed a network of partnerships to aggregate patient data to drive insights and develop breakthrough therapies in the quickly evolving industry of mental wellness. MindMed is focused on delivering immediate impact through comprehensive, holistic treatment programs and integrated tool sets that empower therapists to focus on what they do best: reveal the subconscious traumas that underlie mental illnesses with the aid of “experiential” (aka “hallucinogenic”) doses of psychedelics and employ cognitive behavioral therapies patients’ thought patterns.
New research published in Psychological Medicine shows that lysergic acid diethylamide (LSD) makes people learn faster when receiving feedback and enhances exploratory behavior. These findings could help shed light on the underlying cognitive mechanisms behind the potential therapeutic effects of LSD. LSD-assisted psychotherapy has shown promise in the treatment of conditions such as anxiety, depression, and post-traumatic stress disorder. MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. MindMed is currently conducting two Phase 2 studies on its LSD product candidate, one for General Anxiety Disorder (GAD) and one for ADHD. MindMed (Nasdaq:MNMD) shares have been moving higher in recent days as the company continues to advance its Phase 2b study evaluating MM-120 (MindMed’s novel LSD formulation) for General Anxiety Disorder.
MNMD is flirting with the trigger level of a multi-month cup & handle chart pattern. A confirmed weekly close above $3.70 will target an additional ~40% of upside. MindMed recently announced that Cedar Clinical Research has enrolled and dosed 19 clinical trial participants for the Phase 2b study to date. CCR also recently began enrolling volunteers for this trial at a second research clinic – in Murray, Utah. The MindMed study aims to enroll up to 200 participants who will receive a single administration of 25 micrograms, 50 micrograms, 100 micrograms or 200 micrograms of MM-120 or placebo. Topline results are expected to be announced by MindMed in late 2023. MindMed also announced that its management team will host an Analyst Day in New York City on Tuesday, June 20th, 2023 that will focus on the MM-120 program in generalized anxiety disorder (GAD).
MindMed’s 2023 Analyst Day
Date and Time: June 20th, 2023 at 9:30am ET
Registration: Virtual Registration Link
Audio webcasts and replays of available presentations will be accessible on MindMed’s Investor Resources website for up to 90 days following the event.
Author owns shares of MindMed at the time of publishing and may choose to buy or sell at any time without notice.
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