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Tag: Mind Medicine

  • Mind Medicine (MindMed) Inc. (MNMD) Rebounds after Reaching its 52-week Low

    Mind Medicine (MindMed) Inc. (MNMD) Rebounds after Reaching its 52-week Low

    On January 13, Mind Medicine (MindMed) Inc. (MNMD) stock rebounded in the after-hours following its decline to its 52-week low.

    During the regular trading session, MNMD stock suffered a loss of 5.79% at its close of $1.14. The stock recovered most of its losses in the after-hours as it gained 5.26%. Consequently, MNMD was trading at $1.20 per share in the after-hours with 16.66K shares exchanging.

    The neuro-pharmaceutical company, Mind Medicine (MindMed) Inc. was founded in 2019 and is based in New York, NY. Currently, its 420.74 million outstanding shares trade with a market capitalization of $509.65 million.

    What’s going on?

    On January 13, the MNMD stock fell down to its new 52-week low of $1.12 at a volume of 2.93 million shares. The big dip in the stock might have been taken as a good buying opportunity by investors. Hence, the stock made a comeback in the after-hours session, recovering most of its losses of the day.

    Reviewing the stock movements, MNMD has decreased by 8.80% in the past five days alone. Also, the stock has lost over 30.9% last month and 63.52% last year. Currently, the stock stands at a loss of 17.39% year to date.

    What happened before?

    On January 07, the company announced that Stephen Hurts has resigned from his role as a Director of its Board. While the CEO of MNMD, Robert Barrow thanked him for his contributions, Mr. Hurst shared his positive hope for the company’s future. He shared his confidence in the company’s team for continued progress towards its goal.

    MNMD’s 18-MC

    The company was conducting its Phase 1 clinical trial of 18-MC for treatment linked to opioid use disorder. Further, the trial evaluated the safety, tolerability, and pharmacokinetics along with effects on the cognitive activity of 18-MC in healthy volunteers.

    18-MC is MNMD’s non-hallucinogenic proprietary derivative of ibogaine.

    On January 04, the company announced the completion of the trial and expects topline results in early 2022. In addition, the company also expects to commence a Phase2a proof-of-concept study in early 2022, in people undergoing opioid withdrawal.

    MNMD’s Q3 Financial Highlights

    In the third quarter of 2021, the company suffered from a net and comprehensive loss of $24.3 million and $74.6 million, respectively. Comparatively, in the third quarter of 2020, the same were $8.6 and $21.4 million, respectively.

    MNMD ended the quarter with total assets of $178.6 million including cash of $145.9 million.

  • Mind Medicine (MindMed) Inc. (MNMD) is going up. Why?

    At last check, the Mind Medicine stock is up 3.16 percent in premarket trading and could continue to rise as researchers look at the effects of LSD on anxiety, pain, and adult ADHD. If the company continues to succeed, it might get access to multibillion-dollar mental health markets, such as the $4.7 billion anxiety industry and the $9.5 billion ADHD market.

    The R(-)-MDMA Program by MindMed adds to the company’s drug development pipeline

    The initiation of a program to produce R(-)-MDMA for the treatment of social anxiety and functioning in diagnoses such as Autism Spectrum Disorder has expanded the pipeline of a major biotech business developing psychedelic-inspired treatments (ASD). This program represents a significant expansion and diversity of MindMed’s pipeline, and it advances the company’s aim of developing novel solutions that help patients and meet unmet medical needs.

    ASD is characterized by social anxiety and deficits in social functioning, and it affects about 2% of people in the United States. There are currently no authorized medicines for ASD’s basic symptoms, and there is a substantial unmet need for innovative medications to help persons with the disorder. The expense of ASD is expected to reach $461 billion in the United States by 2025, underscoring the need for and possibility for innovative therapies. According to the National Institute of Mental Health, roughly 12% of the general population in the United States suffers with Social Anxiety Disorder at some point in their lives.

    MDMA, a racemic combination of two physically distinct stereoisomers, R(-) and S(+), is being developed for the treatment of Post-Traumatic Stress Disorder (PTSD), and has shown statistically significant favorable outcomes in a crucial Phase 3 experiment. In addition, participants with ASD demonstrated strong and statistically significant improvements in social anxiety and functioning after receiving short-term MDMA treatment in a pilot clinical experiment.Preclinical data suggests that the R(-) enantiomer of MDMA retains the acute pro-social and empathogenic advantages of racemic MDMA while exhibiting fewer symptoms of stimulant action, neurotoxicity, hyperthermia, and abuse liability. This favorable profile suggests that R(-)-MDMA could be used for purposes other than racemic MDMA, such as novel, more accessible delivery modes and repeat dosing.

    In terms of safety, the business has high confidence in the R(-) enantiomer, owing to its positive preclinical pharmacology and the amount of prior human dosing of the racemic combination, which provides valuable insight into R(-)-MDMA’s projected safety and tolerability. MindMed intends to progress its R(-)-MDMA development program in the United States and the European Union, with the first clinical trials expected to begin in 2022. MindMed and the Liechti Lab at University Hospital Basel (UHB) propose to start a comparative pharmacokinetics and pharmacodynamic clinical trial of R(-)-MDMA, S(+)-MDMA, and R/S-MDMA in 2022 as a major initial investigation.

    This double-blind, placebo-controlled crossover trial in healthy volunteers will investigate differences in acute and long-term effects of MDMA and its two enantiomers, and will give crucial information on the best treatment paradigm for R(-)-MDMA.

    Q2 Financial Results 2021 

    As of June 30, 2021, the company’s total assets were $194 million, including $157 million in cash. For the quarter ended June 30, 2021, net cash used in operating activities was $12 million. For the quarter ending June 30, 2021, there was a net and comprehensive loss of $36 million.

    Sphere Health and MindMed have announced a strategic research collaboration 

    Sphere Health, a physician-founded employee benefits provider focused on treatments for people with severe mental illness, has agreed to collaborate with a leading biotech company developing psychedelic-inspired therapies to collect and analyze multimodal data in order to improve the understanding of a variety of biomarkers associated with mental illnesses such as anxiety and affective disorders.

    MindMed and Sphere Health are collaborating on MM061302, a project that will employ existing consumer technologies to create a robust data collection that can be used to generate more accurate machine learning techniques to detect biomarkers that are associated with and predict anxiety and depression symptoms. The findings of the study can be utilized to better understand mental health diseases and may aid in the development of future digital technologies to help both people with mood disorders and the professionals who care for them.

    Study data can also be de-identified and linked at the subject-level to other data sets, preserving patient privacy while providing additional insights based on real-world data, thanks to a collaboration with MindMed’s colleague Datavant.

  • Best Penny Stocks for 2021

    Are penny stocks the right start for you to invest in stocks? What are the best penny stocks under $5 in 2021? Not sure if you should make a decent investment in penny stocks or rather spend all your savings on the cherry-picked blue-chip stocks?

    Here’s the CODE to remember while investing in stocks.

    People often look at billion-dollar companies with premium share prices of $500 to consider them valuable. However, this is a common misconception because the stock’s share price does not always have something to do with the value of the stock. In reality, price holds very little sway compared to the value of the stock. Instead, it’s the value of the stock and potential in stock’s fundamentals and metrics that define if the present value of the stock makes it worth it or not.

    In other words, stocks under $5 in price can make you the same percentage of profit as a $500 stock can. All you have to do is know the right trends, developments, and measures for investing in the best stocks.

    In this article, we are going to give you the 5 penny stocks of the year that have the best potential to make you rich. We will also provide you with the key measures to learn how to invest in valuable penny stocks.

    Ocean Power Technologies (OPTT)

    First on our list of $5 stocks is Ocean Power Technologies (OPTT), which was the latest target of the raging meme stock phenomenon. It is a leading company in renewable wave energy technology. Its proprietary technology allows it to convert ocean waves into electrical energy. As the world drives towards global green and renewable energy, OPTT stock is going to see big future gains. OPTT stock is valued at 130 million and reported a strong liquidity position of $80.4 million cash in total for the fiscal quarter ended on 30th January 2021. OPTT increased efficiency by reducing its operating expense by 4.3% to $2.78 million in the quarter ended on 30th January. It has recently acquired a technology company for offshore engineering services known as trident technology. OPTT aims to expand its customer base and technology installation-deployment contracts, making this a very potent stock to invest in.

    Atlantic American Corporation (AAME)

    Next on our list of $5 stocks is Atlantic American Corporation (AAME). It is one of the best performing life insurance companies in 2021 that offers insurance products like life, health, property, and casualty insurance policies. The company has a market cap of 86.971 million. Atlantic was affected by the disruption caused by the pandemic, which led to a material decline in capital markets. But despite that, AAME managed to increase its premium revenue to $46.1 million in the first quarter of 2021. Operating loss was reduced to $2.0 million. According to the company’s income statement, the stock had an ROI of 112% for its investors since the start of the year. The company reported $200 million in 2020 and is expected to increase its revenue growth in 2021 since the effect of the pandemic is fading. AAME stock, which has a $0.02 quarterly dividend, is appropriate for income investors since it issues a dividend quarterly.

    Sesen Bio (SESN)

    The third stock in the list of under $5 stocks is Sesen Bio (SESN). It is a late-stage clinical company that uses the proprietary treatment of cancer using Targeted Fusion Protein Therapeutic. SESN has been churning revenue and increasing share price for the past 12 months. The share price started at 1.30 dollars this year and is currently around the 4 dollar mark. The price of the SESN stock has risen by 472% from the past year. The market cap is at 722.607 million dollars. Its lead candidate is the real-money maker, which is known as Vicineum. Vicineum is going through trials and tests to treat bladder cancer as well as head and neck cancer. This broad cancer treatment showed a 71% non-recurrence rate in Phase 2 trials. It is also expected to gain regulatory approvals by 2021 in the US and by 2022 in Europe. Therefore, investors can jump on this bandwagon and expect it to cross the $5 mark after the approval period.

    AmpliTech Group (AMPG)

    Fourth, on our list of investing in penny stocks is AmpliTech Group (AMPG). This stock is known as the 5G revolution stock. 5G industry is still relatively a very early stage market. But that is exactly what makes this stock a potentially profitable long-term buy option. Its diversified portfolio, including the internet of things, space technology, and defense technology, will immediately get a boost in contract demands and revenue once fused with 5G technology. In addition, the company has a debt-to-equity ratio of 0.24, which shows that majority of the company’s operations have not been funded by debt but own capital. Currently, the AMPG stock is almost touching the $5 mark. According to Investopedia, this $45.877 million market cap stock will exit the penny stock category by a strong margin once the 5G starts rolling and is expected to grow 30% in the near term thanks to a recent $23 million capital raise from winning a contract from Fortune 100 defense contractor. In the first quarter of 2021, the company reported a backlog of $2.4 million.

    Mind Medicine (MNMD)

    Our final selection for the under $5 stock is a euro pharmaceutical stock that is as significant, if not more, as the rest of the 4 penny stocks. It is called Mind Medicine (MNMD). It has a competitive advantage in the pharmaceutical sector because it targets and deals with psychedelics. MNMD stock is currently under the $4 mark. The company has a solid debt-to-equity ratio of 0.07. The total equity has risen by a whopping 855% in the quarter ending on 30th January compared to the prior quarter. This 847.955 million dollars valued company will see significant boosts once it gains regulatory approvals, an observed trend in biotech stocks. The company is offering experiential therapy through LSD administration for treating mental health issues. This psychedelic stock is only possible in this timeline because of growing acceptance and approvals by local and state regulators to use drugs for medicinal or recreational purposes. Because of this, Mind Medicine believes it can target an addressable market that could grow by $16 trillion by 2030.