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      Mind Medicine (MindMed) Inc. (MNMD) surged in the Pre-market; here is why? - Stocks Telegraph

      By Shariq Khan

      Published on

      January 25, 2022

      2:16 PM UTC

      Mind Medicine (MindMed) Inc. (MNMD) surged in the Pre-market; here is why? - Stocks Telegraph

      Mind Medicine (MindMed) Inc. (MNMD) stock gained in the pre-market after the Company announced that IND had been cleared. MNMD values at $1.05, gaining more than 12% from the previously closed value. At the end of the last trading session, the stock closed at around $0.93. The stock volume traded in the previous trading session was around 3.95 million shares.

      Reason for the stock gain

      The FDA has approved Mind Medicine (MindMed) Inc. (MNMD) Investigational New Drug (IND) application, allowing the Company to move forward with its Phase 2b dose-optimization trials of MM-120 for the treatment of generalized anxiety disorder.

      FDA removed the clinical hold on the IND following MindMed’s prompt requests for more information about the future study’s participant monitoring procedure. The Company is preparing for user participation, which is anticipated to begin in early 2022.

      The FDA approval of their Phase 2b clinical trials is a significant milestone for MindMeld and the industry. According to this investigation, anxiety symptoms may decrease after a single dose of MM-120, which is the first commercial research of LSD in almost 40 years. The findings will also help researchers better understand the clinical impacts of MM-120 and its fundamental modes of activation in its crucial Phase 3 clinical trials.

      According to the business, anxiety sufferers are one step closer to a new therapy paradigm with a clear regulatory path ahead of them.

      The effect on the stock gain

      As soon as the news hit the market, its stock surged. It is a breakthrough in the industry that the Company has successfully used LSD-based drugs to treat generalized anxiety disorder. Investors are responding positively to the news and are investing in its stock, due to which its stock surged in the market.

      Conclusion

      The new drug will bring a new revenue stream for the Company, and its share price will also increase. Its share price was low than $1.00, but today it gained more than $1.00, which is a good sign.

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