Mind Medicine's share price has responded very strongly to a third quarter update that contained very little new information. The market appears to have moved to a bullish stance following confirmation that clinical timelines have not been changed. With a key competitor recently running into difficulties, Mind Medicine may now be the favored play in the psychedelics sector.
Mind Medicine (MindMed) Inc. (NASDAQ:MNMD ) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Stephanie Fagan – Chief Corporate Affairs Officer Rob Barrow – Chief Executive Officer Dan Karlin – Chief Medical Officer Conference Call Participants Madhu Yennawar – Leerink Partners James Nevin – RBC Capital Markets Charles Duncan – Cantor Francois Brisebois – Oppenheimer Patrick Trucchio – H.C. Wainwright Michael Okunewitch – Maxim Group Sumant Kulkarni – Canaccord Genuity Operator Good afternoon, and welcome to Mind Medicine Third Quarter 2024 Financial Results and Corporate Update Conference Call.
Mind Medicine (MindMed) Inc. is advancing MM-120 for GAD with two phase 3 trials, VOYAGE and PANORAMA, starting in late 2024 and early 2025. MM-120 is also being tested for MDD in the phase 3 EMERGE study, starting in the first half of 2025, with data expected in late 2026. The company has secured funding through 2027, following a public offering, and burns approximately $24.5 million in cash per quarter.
Mind Medicine (MindMed) Inc. (NASDAQ:MNMD ) Q2 2024 Earnings Conference Call August 13, 2024 8:00 PM ET Company Participants Robert Barrow - CEO Daniel Karlin - CMO Reid Robison - Senior Principal Investigator, Cedar Clinical Research Conference Call Participants Elaine Kim - Cantor Fitzgerald Brian Abrahams - RBC Capital Markets Rudy Li - Leerink Partners LLC Daniel Hultberg - Oppenheimer Christopher Chen - Robert W. Baird Sumant Kulkarni - Canaccord Genuity Operator Good morning, and welcome to the Mind Medicine Second Quarter 2024 Financial Results and Corporate Update Conference Call.
MindMed Inc. MNMD, -0.87% said Tuesday it's on track to launch Phase 3 clinical trials with up to 440 people starting later this year for its treatment of generalized anxiety disorder (GAD) through use of lysergide D-tartrate (LSD) in a clinical setting. MindMed is working on FDA approval for an anxiety therapy using LSD.
The Food and Drug Administration rejected Lykos' application to treat PTSD with MDMA therapy. Atai, Compass Pathways, and MindMed are sliding in the wake of the decision.
The FDA's decision on MDMA therapy for PTSD is imminent, impacting MindMed investors and the psychedelic medicine industry. An FDA advisory committee voted against approving MDMA therapy, causing market volatility and uncertainty for psychedelic stocks. Major psychedelic stocks like MindMed have the fundamentals and growing FDA support to withstand a negative FDA decision on MDMA therapy.
Here is how Mind Medicine (MindMed) Inc. (MNMD) and ResMed (RMD) have performed compared to their sector so far this year.
Here is how Mind Medicine (MindMed) Inc. (MNMD) and ResMed (RMD) have performed compared to their sector so far this year.