With anxiety, depression and opioid use disorder at an all-time high, the need for innovative treatments is critical. MNMD stock offers a promising pipeline of psychedelic-inspired medicines and therapies that could address these problems.
Mind Medicine (MindMed) is a clinical-stage drug development company seeking to apply psychedelics to societal issues like anxiety, cluster headaches and addiction. The company has a compelling pipeline that includes MDMA, LSD, psilocybin and an ibogaine derivative called 18-MC.
1. Improved mood
In recent years, microdosing has gained traction amongst people who want to use psychedelic drugs to improve their mental wellness. The growing popularity of this trend has given treatments like those being developed by MindMed a degree of legitimacy that was lacking before.
The company is developing a range of products to address an array of brain health conditions. These include anxiety, addiction, and adult ADHD. It is also working to make LSD, MDMA, and psilocybin-based therapies more accessible by using digital tools to help patients track their progress.
The news release contains forward-looking information within the meaning of applicable securities laws, including statements regarding the launching of MM061302, using existing consumer technology to create robust data sets, applying study data to machine learning, and maintaining patient privacy. The company does not intend to update publicly any forward-looking statement. Forward-looking statements are based on management’s current beliefs and judgment, and involve risks and uncertainties that could cause actual results or performance to differ materially from those contemplated in the forward-looking information.
2. Reduced anxiety
The recent resurgence of interest in microdosing is giving treatments like those being developed by MindMed a degree of legitimacy. The company’s focus is on mental wellness, with current trials and research covering anxiety, addiction, and adult ADHD.
MindMed is developing a new drug called MM-120, which is designed to treat generalized anxiety disorder. Currently, it’s in a phase two trial. That study is intended to establish a dosage range that could be tested in a larger phase three study. That study would compare the effectiveness of MM-120 against existing medications for anxiety.
MindMed is using Catalent’s Zydis oral delivery technology for the development of MM-120. This combination “could ultimately culminate in a shorter treatment session,” according to a press release from the company. The company is also partnered with various universities for R&D, including University Hospital Basel’s Liechti Lab, one of the world’s leading research centers for the pharmacology of psychedelic substances. Its drug development pipeline includes psilocybin, MDMA (Molly or Ecstacy), and DMT, which occurs naturally in many plants.
4. Increased focus
Psychedelic inspired medicines create a real opportunity to disrupt current approaches to treating serious brain health disorders such as addiction and mental illness. Mindmed is developing a diverse pipeline of next generation drug candidates that leverage the medicinal properties of the psychedelic substances LSD, psilocybin and MDMA, including an ibogaine derivative 18-MC.
The Company is currently enrolling patients in a placebo-controlled Phase 2a proof of concept trial of MM-120 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder (ADHD). IND-enabling studies are ongoing for MM-110, a nicotinic acetylcholine receptor antagonist, and a comparative Phase 1 pharmacokinetic/pharmacodynamic investigator-initiated trial of R/S-MDMA, several formulations of MDMA and psilocybin is underway through MindMed’s collaboration with University Hospital Basel in Switzerland.
Billionaires including hedge fund titan Steven Cohen, Tao Capital cofounder Michael Novogratz and heirs to the Hyatt hotel fortune Joby Pritzker and Bob Parsons have invested in MindMed. The Company recently acquired HealthMode, a digital medicine technology platform that provides artificial intelligence-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring.