Latest news with #MindMedicine
Yahoo
6 days ago
- Business
- Yahoo
Why Mind Medicine Gave Investors a Powerful Buzz in May
Connecticut lawmakers advanced a bill that would decriminalize psilocybin if ultimately passed. Investors were also cheered by a C-suite appointment. 10 stocks we like better than Mind Medicine (MindMed) › Mind Medicine (NASDAQ: MNMD), a healthcare company that's looking to develop treatments based on psychedelic compounds, was something of a sleeper stock in May. Several positive developments pushed the highly specialized enterprise's share price higher, to the point where it closed the month up almost 14% in price. The main driver of this gain was a small step forward in the decriminalization of psilocybin. That's the psychoactive compound that Mind Medicine -- or MindMed, as it's known for short -- is aiming to develop into substances that can help treat certain psychological disorders. That tiny movement forward came from the Connecticut House of Representatives, which in mid-May passed a bill that would drastically change the legal status of psilocybin. It now must go through a process that includes a vote in the state Senate before it can become law. In its current form, the bill would decriminalize the substance, chiefly found in so-called "magic" mushrooms, to the point where possession of a small amount would be punishable only by a $150 fine. That's quite a shift from the current regime, in which violators can be sentenced to jail time. The vote in the House was narrow, however, with 74 in favor versus 65 against, and Gov. Ned Lamont rejected an earlier psilocybin decriminalization bill, so this wasn't exactly a slam dunk. Still, MindMed investors saw it as a win that there's continued movement on nudging the substance toward at least a soft form of legalization. Company management is clearly anticipating movement on the decriminalization front, whether or not the Connecticut effort is successful. Toward the end of May, the company announced it had appointed a new CFO. Brandi Roberts wasted little time in formally taking up the position several days later. Roberts has significant experience as a CFO in various businesses in the life sciences sector, which should help boost the credibility and viability of Mind Medicine. According to the company, her experience also includes bringing her previous employer, Longboard Pharmaceuticals, to its initial public offering and later being instrumental in its sale to Denmark-based peer H. Lundbeck. Things were looking up for MindMed in May, but we should always bear in mind that as a company focused on a substance that is currently illegal throughout the U.S., it remains a very speculative investment. I like its uniqueness, and I feel that if the legal framework shifts it could do quite interesting work. But this is a stock for investors with high risk tolerance only. Before you buy stock in Mind Medicine (MindMed), consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Mind Medicine (MindMed) wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $657,385!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $842,015!* Now, it's worth noting Stock Advisor's total average return is 987% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Mind Medicine Gave Investors a Powerful Buzz in May was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
27-05-2025
- Business
- Business Wire
MindMed Strengthens Executive Team with Appointment of Brandi Roberts, CPA, as Chief Financial Officer
NEW YORK--(BUSINESS WIRE)--Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (the "Company" or "MindMed"), a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced the appointment of Brandi L. Roberts as its Chief Financial Officer (CFO), effective June 2, 2025. In her new role, Ms. Roberts will join MindMed's executive leadership team where she will oversee all aspects of financial strategy, capital planning, accounting, investor relations and information technology as the Company advances its clinical development and commercial priorities for its lead product candidate MM120 orally disintegrating tablet (ODT) for generalized anxiety disorder (GAD) and major depressive disorder (MDD). 'Brandi joins MindMed at a pivotal moment for the company, bringing with her a powerful combination of financial acumen, strategic vision, and deep biotech sector expertise,' said Rob Barrow, Chief Executive Officer of MindMed. 'Her proven track record leading public companies through transformative milestones, including initial public offerings (IPO), business development and investor engagement makes her a valuable addition to our organization. As we accelerate toward the potential commercialization of MM120 ODT, her understanding of the healthcare landscape and executional strength will be instrumental in advancing our strategy, driving growth, and delivering long-term value for both patients and shareholders.' 'MindMed is leading a true paradigm shift in mental health treatment, and I'm excited to collaborate with a team renowned for its exceptional depth and breadth of experience in drug development,' said Ms. Roberts. 'With MM120 ODT, the company is advancing a potential breakthrough for the millions of people in the U.S. suffering from GAD and MDD. Joining MindMed is an extraordinary opportunity to continue building a robust financial infrastructure that matches the strength of the Company's science; delivering a comprehensive strategic financial vision built to support innovation, agility, and access with the goal of helping patients and making a meaningful impact in addressing the mental health crisis.' Ms. Roberts has more than 25 years of financial leadership experience within the life sciences industry. Most recently, she served as CFO and Executive Vice President of Longboard Pharmaceuticals, where she helped lead the company through its IPO, multiple financings, and ultimately, its $2.6 billion acquisition by Lundbeck in 2024. Throughout her career, Ms. Roberts has played pivotal roles in scaling operations, supporting clinical development, and managing investor relations with leading investors, funds, and analysts. She has held CFO roles at Lineage Cell Therapeutics, REVA Medical, and Mast Therapeutics, and senior finance positions at Alphatec Spine, Inc., Artes Medical, Inc., Stratagene Corporation, and Pfizer, Inc. Ms. Roberts received her MBA from the University of San Diego and her B.S. degree in business administration in Accounting and Finance from the University of Arizona. She is a Certified Public Accountant in the State of California and currently serves on the board of advisors for Life Science Cares San Diego and the board for the Association of Bioscience Financial Officers Southwest chapter. Inducement Grants under Nasdaq Listing Rule 5635(c)(4) In connection with her appointment as Chief Financial Officer on June 2, 2025, MindMed will grant Ms. Roberts on such date inducement awards consisting of (i) an option to purchase 500,000 common shares of the Company (the "Option") and (ii) 125,000 performance share units (the 'PSUs') (assuming achievement at target levels of performance) that, if earned, will be settled in MindMed common shares upon vesting. The Option will have an exercise price equal to the closing price of MindMed's common shares on May 30, 2025, the last trading day on which MindMed's common shares will trade prior to the date of the grant and will vest over a four-year period with 25% vesting on the first anniversary and the remaining 75% vesting in 36 equal monthly installments over the three-year period thereafter, subject to her continued employment. The PSUs will vest on the third anniversary of the grant date, subject to continued service through the vesting date. Actual earned PSUs can range from 0%-200% of the target number of PSUs and will be based on the achievement of certain performance metrics as measured at the end of the three-year performance period. The inducement awards to Ms. Roberts will be granted as a material inducement to her entering into employment with MindMed and were approved by MindMed's Compensation Committee on May 21, 2025, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The awards were granted outside MindMed's equity incentive plans. About MindMed MindMed is a late-stage clinical biopharmaceutical company developing novel product candidates 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 product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health. MindMed trades on NASDAQ under the symbol MNMD. Forward-Looking Statements Certain statements in this news release related to the Company constitute "forward-looking information" within the meaning of applicable securities laws and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "will", "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe", "potential" or "continue", or the negative thereof or similar variations. Forward-looking information in this news release includes, but is not limited to, statements regarding the Company's beliefs regarding potential benefits of MM120 ODT for GAD and MDD; the size of the addressable market for MM120 ODT for treatment of GAD and MDD; the Company's plans to appoint Ms. Roberts as CFO effective June 2, 2025, and to grant her inducements awards in connection therewith. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including history of negative cash flows; limited operating history; incurrence of future losses; availability of additional capital; compliance with laws and regulations;legislative and regulatory developments, including decisions by the Drug Enforcement Administration and states to reschedule any of our product candidates, if approved, containing Schedule I controlled substances, before they may be legally marketed in the U.S.; difficulty associated with research and development; risks associated with clinical studies or studies; heightened regulatory scrutiny; early stage product development; clinical study risks; regulatory approval processes; novelty of the psychedelic inspired medicines industry; ability to maintain effective patent rights and other intellectual property protection; as well as those risk factors discussed or referred to herein and the risks, uncertainties and other factors described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 under headings such as "Special Note Regarding Forward-Looking Statements," and "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and other filings and furnishings made by the Company with the securities regulatory authorities in all provinces and territories of Canada which are available under the Company's profile on SEDAR+ at and with the U.S. Securities and Exchange Commission on EDGAR at Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
Yahoo
22-05-2025
- Business
- Yahoo
Why Mind Medicine Stock Vaulted More Than 8% Higher Today
One state's House of Representatives just voted in favor of decriminalizing psilocybin. This is the compound the company is trying to develop into medicines. 10 stocks we like better than Mind Medicine (MindMed) › Investors had a good mind to plow money into Mind Medicine (NASDAQ: MNMD) stock on Tuesday. Shares of the psychedelic-focused biotech, which also goes by the name of MindMed, provided a nice high by rising more than 8% in price on a legislative development. That performance contrasted well with the S&P 500 index's 0.4% drop on the day. Late on Monday, Connecticut's House of Representatives approved a bill to decriminalize psilocybin, the psychoactive compound found in so-called "magic" mushrooms. The vote was narrow, with 74 of the state's lawmakers in favor and 65 against. The proposed law will be put in front of the state Senate for review and an eventual vote. If it passes, the New England state's law on psilocybin would change drastically. Possession of up to a half-ounce of the compound would subject a violator to only a $150 fine, without any time in jail. Speaking on the House floor, Democrat state representative Steve Stafstrom made statements that might have come from MindMed's public relations department. "Psilocybin is a product which has been shown to be an effective therapeutic for various mental illnesses, including treating PTSD, addictions, depressions and anxiety disorders," he said, in advance of criticizing the state's currently punitive measures for violators of current law. Broadly speaking, the American public is in favor of decriminalizing drugs and psychoactive substances thought to be more beneficial than harmful. The Connecticut House vote is yet another example of how the tide is turning in favor of de facto legalization, a process that is already well advanced in many jurisdictions throughout the country. This trend bodes well for MindMed and others involved in psychedelic medicine. Before you buy stock in Mind Medicine (MindMed), consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Mind Medicine (MindMed) wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $642,582!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,879!* Now, it's worth noting Stock Advisor's total average return is 975% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Mind Medicine Stock Vaulted More Than 8% Higher Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Mind Medicine (MindMed) Inc. (MNMD): Analysts See 285% Upside Potential
We recently published an article titled . Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) was one of the stocks that was covered in that article. Wall Street analysts believe MNMD has a 285% upside potential over the next 12 months. A biopharmaceutical researcher proficiently using laboratory instruments. Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is a clinical-stage biopharmaceutical company dedicated to pioneering innovative treatments for brain health disorders. With a focus on addressing the therapeutic needs of patients suffering from anxiety, depression, autism spectrum disorders, and other severe mental health challenges, MindMed explores the promising potential of psychedelics and other compounds. The company's approach is rooted in cutting-edge research, aiming to develop transformative solutions that improve patients' quality of life by targeting the underlying mechanisms of these disorders. A key candidate in MindMed's pipeline is MM120, a proprietary form of lysergide D-tartrate. This compound has gained considerable attention for its potential efficacy in treating generalized anxiety disorder (GAD) and major depressive disorder (MDD). Currently in Phase 3 clinical trials, MM120 has shown remarkable promise in addressing symptoms of anxiety and depression. Preliminary results from earlier trials indicate a rapid onset of therapeutic effects, with the benefits enduring for at least 12 weeks without requiring adjunct psychotherapy. This durability and reliability have positioned MM120 as a groundbreaking candidate in the realm of mental health treatments. MindMed's financial stability bolsters its ability to advance clinical programs efficiently. The company reported a strong cash position of $273 million, ensuring a robust financial runway to sustain operations and progress its trials. During the first quarter of 2025, CEO Rob Barrow reaffirmed MindMed's commitment to furthering its clinical programs, specifically emphasizing the pivotal Phase 3 trials for MM120 ODT. These trials, named Voyage, Panorama, and Emerge, are strategically designed to refine the therapeutic applications of MM120, aiming to deliver comprehensive solutions for GAD and MDD. Top-line results from these trials are eagerly anticipated by 2026, which could mark a significant milestone in the field of mental health treatment. With a solid cash balance of $245.5 million as of March 31, 2025, MindMed remains well-equipped to operationally sustain its progress through 2027. Analysts on Wall Street have expressed optimism regarding the company's growth trajectory, projecting a twelve-month average share price of $24.50, offering an upside potential of 291.37%. Overall, Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) ranks 8th on our list of 13 Best Multibagger Stocks to Invest in Now. While we acknowledge the potential of MNMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MNMD and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Best Low Volatility Stocks to Buy Now and Starter Stock Portfolio: 12 Safe Stocks to Buy Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
24-04-2025
- Business
- National Post
MindMed to Report First Quarter 2025 Financial Results on May 8, 2025
Article content NEW YORK — Mind Medicine (MindMed) Inc. (Nasdaq: MNMD), (the 'Company' or 'MindMed'), a late-stage clinical biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced that it will host a live webcast at 8:00 a.m. ET on Thursday, May 8, 2025 to report financial results for the first quarter ended March 31, 2025, and discuss recent business updates. Article content Article content Listeners can register for the webcast via this link. Analysts wishing to participate in the question and answer session should use this link. A replay of the webcast will be available via the Investor Relations section of the MindMed website, and archived for at least 30 days after the webcast. Those who plan on participating are advised to join 15 minutes prior to the start time. Article content Article content MindMed is a late-stage clinical biopharmaceutical company developing novel product candidates 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 product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health. MindMed trades on NASDAQ under the symbol MNMD. Article content Article content Article content Article content
