Analysts - Psychedelics Industry Potential $400 Billion Annual Revenue Looking at the H.C. Wainwright's analysis / industry update. Mind Medicine; MNMD; Buy; $5 price target (lowered from $10 /share). MindMed ended 2Q22 with cash and investments of $98M, which is expected to be sufficient to meet its operating requirements beyond key development milestones into 2024 according to the latest 10-Q filing. On August 11, MindMed announced progress on MM-120, a proprietary and pharmaceutically optimized form of lysergic acid diethylamide (LSD), which advanced to Phase 2b in generalized anxiety disorder (GAD) though also announced a pause to clinical development of zolunicant, a non-psychedelic form of ibogaine, which we had believed to be among the most valuable programs in the mental healthcare space primarily as it had potential to address the out of control opioid epidemic in America. However, on the 2Q22 earnings call, management noted that additional preclinical work would be needed to advance zolunicant in opioid use disorder (OUD); MindMed is to seek nondilutive sources of capital and/or a collaboration prior to advancing the program; as such, we have, for now, removed the program from our estimates. On the positive side, the Phase 2b dose-optimization trial evaluating MM-120 (Project Lucy) is expected to dose the first patient in 3Q22 with top-line data expected in late 2023. As such, in our August 16 update, issued today, we reduced our price target to $10 from $5 to reflect the removal of zolunicant from our estimates Separately, we note that Investigational New Drug (IND)-enabling studies evaluating MM-402, an R-enantiomer of MDMA, are ongoing, with a Phase 1 clinical trial expected to initiate in 2023; MM-402 is expected to be evaluated as a potential treatment for the core symptoms of autism spectrum disorder (ASD). For additional details on the strategic update, refer to our August 16 update entitled, Potential Blockbuster LSD Program Progressing; 18-MC Addiction Program to Be Partnered; Lowering Price Target to $5 . For additional details on LSD in anxiety, refer to our May 11 update entitled Positive Phase 2 Top-Line Results for LSD in Anxiety Provides Positive Read Through to MM-120; Reiterate Buy , and to our August 5, 2021, initiation of coverage report entitled Building the Mental Healthcare Treatment Paradigm of the Future; Initiating With a Buy and $10 Price Target . https://hcwco.bluematrix.com/sellsi...c71b9470-8122-49bc-a2ee-c43b0e9c7445&mime=pdf
I just bought 100 shares of MNMD. With some analysts predicting price targets in the $5 to $10/share range, I figured, 'why not?'
What's amazing is that if the data my brokerage is supplying is correct, todays MNMD volume accounts for over 30% of the total outstanding shares!?! That's a lot of profit taking.
Mind Medicine Stock Is Surging. A Student Who Made $110 Million Trading Bed Bath & Beyond Could Be Why https://www.wsj.com/livecoverage/stock-market-news-today-08-18-2022/card/NQvGjDZxgOXAhDzu43nR
Mind Med stock soars 52% after young investor who made $110 million on Bed Bath & Beyond names it as key holding https://www.marketwatch.com/story/m...ath-beyond-names-it-as-key-holding-2022-08-18
MindMed Announces First Patient Dosed in Phase 2b Trial of MM-120 in Generalized Anxiety Disorder https://www.prnewswire.com/news-rel...n-generalized-anxiety-disorder-301612131.html NEWS PROVIDED BY Mind Medicine (MindMed) Inc. Aug 25, 2022, 07:30 ET NEW YORK, Aug. 25, 2022 /PRNewswire/ -- Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED) (the "Company" or "MindMed"), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, today announced first patient dosing in its Phase 2b dose-optimization trial of MM-120, a pharmaceutically optimized form of lysergic acid diethylamide (LSD), for the treatment of Generalized Anxiety Disorder (GAD). "The initiation of our Phase 2b clinical trial, the largest well-controlled clinical trial of LSD ever conducted, represents a major milestone for MindMed and for the many patients suffering from GAD," said Robert Barrow, Chief Executive Officer and Director of MindMed. "This exciting next step in the advancement of LSD builds on the positive topline data presented by our partners at University Hospital Basel in May 2022, which demonstrated the rapid, durable, and statistically significant effects of LSD and its potential to safely mitigate symptoms of anxiety and depression. The results of our Phase 2b trial will guide the dose selection and development strategy for our pivotal Phase 3 clinical trials, as we continue our efforts to bring a new potential treatment to the millions of people living with GAD." The Phase 2b trial in patients diagnosed with GAD is a multi-center, parallel, randomized, double-blind, placebo-controlled, dose-optimization study. The trial plans to enroll 200 participants who will receive a single administration of up to 200 µg of MM-120 or placebo. The primary objective is to determine the reduction in anxiety symptoms 4 weeks after a single administration of MM-120, compared across the five treatment arms. Key secondary objectives, measured up to 12 weeks after the single administration, include assessments of safety and tolerability as well as quality of life. More information about the trial is available on our website (mindmed.co) or on clinicaltrials.gov (identifier NCT05407064). About Generalized Anxiety Disorder (GAD) GAD is a chronic, often debilitating mental health disorder that affects approximately 6% of U.S. adults in their lifetimes. Symptoms of GAD include excessive anxiety and worry that persists for over six months, which can lead to significant impairments in social, occupational and other functioning, according to the National Institute of Mental Health (NIMH). While there is substantial diagnostic overlap between GAD, Major Depressive Disorder (MDD) and other major mental health disorders, there has been very little innovation focused on the treatment of GAD in the past several decades. About MindMed MindMed is a clinical stage biopharmaceutical company developing novel products to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine and acetylcholine systems. MindMed trades on NASDAQ under the symbol MNMD and on the Canadian NEO Exchange under the symbol MMED.
Full UHB Phase 2a findings published "LSD produced long-lasting and notable reductions of anxiety and co-morbid depression symptoms up to 16 weeks." https://www.biologicalpsychiatryjournal.com/article/S0006-3223(22)01553-0/fulltext
Psychedelics And Mental Health: What Does The Science Say? https://www.forbes.com/health/mind/what-is-psychedelic-therapy/
Lawsuit - Freeman vs Hurst Package Freeman lawsuit - motion to seal / redact filed. Unredacted Paperwork: https://www.dropbox.com/sh/lmul15e3...Harl3oNTQyVa?dl=0&preview=Freeman+Lawsuit.pdf Redacted Paperwork: https://www.dropbox.com/sh/lmul15e3...qPDa/California Complaint - REDACTED.pdf?dl=0
If the allegations are true, sounds like this Hurst guy should be hung upside down from the CN Tower, by wet tissue paper.
I think we will see that... the recent price action is fear. This company is going to go crazy in due time.
I would probably agree - IF - and that looks like a fairly questionable IF now - this Hurst scammer hasn't poisoned the water. Psychedelic therapeutics have a pretty substantial PR burden to begin with. I hope this fraudster hasn't created a situation where the company won't ever be taken seriously.
LSD trial shows promising results for Generalized Anxiety Disorder https://psychedelichealth-co-uk.cdn...results-for-generalised-anxiety-disorder/amp/
LSD-assisted therapy induces rapid and lasting reductions in anxiety and depression symptoms, according to new research https://www.psypost.org/2022/09/lsd...sion-symptoms-according-to-new-research-63870
