Welcome to our dedicated page for Mind Medicine (MindMed) Common Shares news (Ticker: MNMD), a resource for investors and traders seeking the latest updates and insights on Mind Medicine (MindMed) Common Shares stock.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) is a biopharmaceutical company based in New York, specializing in the development of psychedelic-inspired medicines and therapies, known as psychoplastogens. The company's core mission is to address major mental health issues like addiction and mental illnesses through innovative treatments.
MindMed is at the forefront of a growing industry, assembling a comprehensive drug development pipeline focused on psychoplastogens. These substances have shown great potential in treating brain health disorders, and MindMed is committed to rigorous scientific research to unlock their therapeutic benefits.
One of the company's most significant recent achievements is the positive data from its Phase 2b clinical trial of MM120 (lysergide d-tartrate) for treating generalized anxiety disorder (GAD). The trial results indicated a substantial improvement in participants, with 48% achieving remission and 65% showing clinically meaningful improvement four weeks after a single dose. This breakthrough has led the U.S. Food and Drug Administration (FDA) to designate MM120 for GAD as a breakthrough therapy, reflecting the significant unmet medical need in this area.
MindMed collaborates extensively with other organizations and clinical research sites, such as Numinus Wellness Inc., to advance its clinical trials. With a research network spanning 20 sites and involving 198 participants, MindMed ensures robust and reliable clinical data.
The company's approach is unique, focusing purely on the effects of its treatments without the interference of other medications or therapies. This has allowed for a clear understanding of the efficacy and potential of their psychedelic-inspired medicines.
Financially, MindMed is well-positioned to continue its pioneering work. The company leverages its partnerships and collaborations to support its research and development efforts, aiming to bring these novel treatments to market.
With a vision to transform mental health care, MindMed is leading the way in integrating psychedelic-assisted therapies into mainstream clinical practice. The company’s ongoing projects and positive clinical outcomes signal a promising future in addressing some of the most prevalent mental health disorders.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced the appointment of Dr. Suzanne Bruhn and Dr. Roger Crystal as independent members of its Board of Directors, effective August 11, 2022. Their extensive experience in life sciences and product development is expected to aid MindMed in advancing its product candidates aimed at treating brain health disorders. Dr. Bruhn, formerly of Tiaki Therapeutics, and Dr. Crystal, CEO of Opiant Pharmaceuticals, bring significant expertise to the board. The company also announced Dr. Halperin Wernli's retirement from the board while continuing her role as President.
Mind Medicine Inc. (NASDAQ: MNMD) reported its Q2 2022 financial results, highlighting the advancement of its Phase 2b dose-optimization trial for MM-120, targeting generalized anxiety disorder (GAD). The company announced positive safety results for MM-110, aimed at opioid withdrawal. As of June 30, 2022, cash and equivalents stood at $105.7 million, adequate to support operations into 2024. The net loss for Q2 2022 was $17.1 million, significantly reduced from $44.5 million in Q2 2021. Leadership changes were notable, including the appointment of Schond L. Greenway as CFO and two new independent board members.
On August 11, 2022, FCM MM Holdings, LLC, led by co-founder Dr. Scott Freeman, urged Mind Medicine (NASDAQ:MNMD) to adopt a new strategic plan. The proposals include a focus on core drugs MM-110 (18-MC) and MM-120 (LSD), reducing annual cash burn from $45 million to under $25 million, and halting the at-the-money equity offering. FCM believes these changes could expedite MM-120's market entry from eight years to four. With 5.6% of MindMed's shares, FCM is committed to enhancing shareholder value.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced a 1-for-15 reverse share split, aimed at meeting Nasdaq's minimum bid price requirement and facilitating future business needs. Post-split, approximately 28.4 million shares will be outstanding, with trading set to begin on August 29, 2022. Existing warrants and options will be adjusted correspondingly. Shareholders will not need to take action for holdings via brokers, while those with physical certificates will receive further instructions from Computershare. The company's focus remains on developing treatments for brain health disorders.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced it will host an earnings call on August 11, 2022, at 4:30 p.m. EDT to discuss its financial results for the quarter ended June 30, 2022, alongside a business update. The company focuses on developing innovative products targeting brain health disorders, including psychiatry and addiction. Stakeholders can join the call via telephone or watch the webcast, which will also be archived for 30 days.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced its participation in the Canaccord Genuity 42nd Annual Growth Conference, set for August 8-11, 2022, in Boston, MA. The management team will present on August 10 at 11:00 a.m. ET with an in-person format along with investor meetings. A live webcast will be accessible, and a replay will be available for 90 days on their website. MindMed is focused on developing innovative treatments for brain health disorders, targeting critical neurotransmitter systems.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced the results of its annual general and special meeting of shareholders held on June 1, 2022. All five management nominees were successfully elected as directors, with percentages of votes ranging from 89.04% to 96.72%. KPMG LLP was appointed as the company's auditor for the coming year. Additionally, shareholders approved an alteration to the company's share structure, eliminating Multiple Voting Shares and re-designating Subordinate Voting Shares as Common Shares. This strategic move aims to streamline the company's capital structure.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced its participation in the Jefferies Global Healthcare Conference in New York from June 8-10, 2022. CEO Robert Barrow will present on June 10, 2022, at 12:45 p.m. ET. The event includes an in-person presentation and one-on-one investor meetings. A webcast of the presentation will be available at this link, with a replay for 90 days on MindMed's website. MindMed focuses on developing treatments for brain health disorders.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced the appointment of Schond L. Greenway as Chief Financial Officer, effective May 23, 2022. Greenway brings over 20 years of experience in investment banking and corporate advisory, particularly in the life sciences sector. His expertise in US biotech capital markets is expected to advance MindMed's mission of developing innovative therapies for brain health disorders. With numerous near-term milestones ahead, the company aims to enhance its pipeline targeting conditions like anxiety, addiction, and autism.
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) announced positive topline results from its Phase 1 trial of MM-110, a treatment for opioid withdrawal. Conducted on 108 healthy volunteers, the trial demonstrated that MM-110 was well-tolerated, with no serious adverse events reported. The findings support advancing to a Phase 2a trial, set to begin in Q2 2022. The study indicates MM-110's potential in addressing the opioid crisis, focusing on safety, tolerability, and neurocognitive effects. This progress builds on previous studies suggesting the drug's effectiveness in reducing withdrawal symptoms.
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