Mind Medicine (MindMed) Inc MNMD

Alternate Symbol(s): N.MMED.WS | N.MMED.WA | N.MMED.WR | N.MMED

Healthcare

Mind Medicine (MindMed) Inc. is a clinical-stage biopharmaceutical company, which is engaged in developing products to treat brain health disorders. It is developing a pipeline of product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways. This specifically includes pharmaceutically optimized product candidates derived from the psychedelic and empathogen drug classes, including MM-120 and MM-402, the Company's product candidates. MM120, is a proprietary, pharmaceutically optimized form of lysergide D-tartrate that it is developing for the treatment of generalized anxiety disorder (GAD). MM-120 is also being studied in a subperceptual repeat administration dosing regimen for the treatment of attention deficit hyperactivity disorder (ADHD). MM-402, also referred to as R(-)-MDMA, is the Company's form of the R-enantiomer of 3,4-methylenedioxymethampheta (MDMA), which the Company is developing for the treatment of autism spectrum disorder (ASD).

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Mind Medicine (MindMed) Inc > Mind Medicine (MNMD) Stock: Why It Surged Over 70% Today

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Comment by MrVerbatim9800on Aug 18, 2022 10:50am

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Post# 34904713

RE:Mind Medicine (MNMD) Stock: Why It Surged Over 70% Today

Love it..... ;)

yanster2419 wrote: https://pulse2.com/mind-medicine-mindmed-mnmd-stock-why-it-surged-over-70-today/

Mind Medicine (MindMed) (MNMD) Stock: Why It Surged Over 70% Today

By Amit Chowdhry Today at 8:33 AM

Pulse 2.0

• The stock price of Mind Medicine (MindMed) (MNMD) surged over 70% pre-market today. This is why.

The stock price of Mind Medicine (MindMed) (MNMD) surged over 70% pre-market today. Investors appear to be responding to a report that is trending on the media today about a 20-year-old university student that made a $110 million profit with a one-month bet on Bed Bath & Beyond stock – which also mentions MindMed.

The 20-year-old Jake Freeman and his family had acquired nearly 5 million shares in Bed Bath & Beyond for under $5.50 per share in July for a total of about $25 million in value. Then Bed Bath & Beyond soared about 500%, driven by discussions about the stock on Reddit. Some of the posts on Reddit were reportedly written by Freeman.

Freeman is an applied mathematics and economics student at the University of Southern California. And he said he was shocked at the speed of the rally in Bed Bath & Beyond’s shares.

Freeman had regularly worked as an intern at New Jersey-based hedge fund Volaris Capital. Through Freeman’s Freeman Capital Management (FCM) fund, he raised the $25 million stake in Bed Bath & Beyond from family and friends. Plus he also gets help from his uncle Dr. Scott Freeman, a former pharma executive who also works at FCM. Dr. Freeman is also a co-founder and former chief medical officer of MindMed.

About a week ago, it was revealed that FCM sent a letter to the board of directors of Mind Medicine calling on the company’s Board to adopt a new strategic plan proposed by FCM including refocusing on its core drugs, cutting cash burn, and terminating the at-the-money equity offering. In the letter, Dr. Freeman also offered to provide MindMed his expertise as a director on MindMed’s board.