Mar 22, 2022

Has MindMed Hit A Double-Bottom?

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Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, will hold its earnings call next Monday morning (March 28, 2022), at 8:30 a.m. EST.

Individuals may participate via telephone by dialing (877) 407-0789 (domestic) or (201) 689-8562 (international) and using conference ID 13728028. The webcast can be accessed live here or on MindMed's Investor Resources webpage. The webcast will be archived on the company's website for at least 30 days after the conference call.

MNMD (Daily)

After seeing its share price fall ~60% in the last year, MNMD's chart is showing a potential chart pattern double-bottom

About MindMed

MindMed is a clinical-stage biopharmaceutical company developing novel products to treat brain health disorders, with a particular focus on psychiatry, addiction, pain and neurology. The company currently has 8 ongoing/planned Phase 2 studies and 4 ongoing/planned Phase 1 studies.

MindMed is expected to release top-line results from its Phase 1 trial of its 18-MC psychedelic-inspired NCE (new chemical entity) for opioid withdrawal any day now, and may discuss the results during the earnings call next Monday. MNMD is then expected to rapidly move into a Phase 2a trial of 18-MC for opioid withdrawal. In addition, MindMed will be imminently initiating a Phase 2b trial for LSD in generalized anxiety disorder (GAD).

In total, MindMed has nearly 50 patent applications filed covering more than 30 NCEs.

MNMD's chart is offering a constructive technical setup at a time when the medical psychedelics sector is highly out of favor among investors. The combination of potential positive Phase 1/2 results from its pipeline of clinical stage NCEs in 2022, and a solid chart-pattern bottom, offers an enticing trade setup in MNMD.


Author owns MindMed shares at the time of publishing and may choose to buy or sell at any time without notice.


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