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On the latest interview with JR. Just so everyone know. CIBC is a commercial bank not an investment bank even CMPS doesn’t even have it. They are the first to get that! Video is up regarding the interview
Cash on hand is now $144M
Nasdaq article!!
“First, MindMed has already applied to be listed on the NASDAQ. If it is approved and listed early next year, the stock will likely appreciate in value and experience a higher trading volume. That supports the argument for buying it right now.”
https://www.nasdaq.com/articles/up-1130-in-2020-is-mindmed-still-a-buy-2020-12-23
Boom 5k shares added!! Thank you for the dips weak hands
Correct me if I’m wrong. But from the investor deck... 18mc and LSD studies should have some updates this time any day now.
Tripple digit for both $$$
Pfizer over here making healthcare workers faint after vaccination. Smh
There is like about 8 days trading days for the year. Would be nice if uplist drops before Christmas or after new yrs
Anyone know anything about the OTCQB application? Kinda went quiet
Sideways trading. Building a good bottom
Exactly!
Can’t believe there are still weak hands on here. This is the 3rd time Canacord funding trials. They have money for future trials. You are looking at one of the biggest companies in the psychedelic sector. 4 horseman they say. Compass, Mindmed, ATAI & one more
Somehow this was on the rvvtf news:
Mind Medicine (MindMed) Inc. (OTCQB: MMEDF) (NEO: MMED) announced last week that "it has closed its previously announced bought deal short form prospectus offering, including the exercise in full of the underwriter's over-allotment option (the "Offering"). In connection with the Offering, the Company issued 18,170,000 units of the Company (the "Units") at a price per Unit of CAD $1.90 (the "Issue Price") for gross proceeds of CAD $34,523,000. The Offering was conducted by Canaccord Genuity Corp., as lead underwriter, and Eight Capital.
Each Unit comprises one subordinate voting share of the Company (a "Subordinate Voting Share") and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Subordinate Voting Share at an exercise price of CAD $2.45 until December 11, 2023. If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Subordinate Voting Shares on the NEO Exchange Inc. is greater than CAD $4.00 per Subordinate Voting Share for the preceding 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is at least 30 days following the date of such written notice. The Warrants will be listed for trading on the facilities of the NEO Exchange Inc. (the "NEO") under the symbol "MMED.WA", subject to the final approval of the NEO.
Since the founding of Mind Medicine Inc. in May 2019, MindMed has now raised a total of CA$121.4M (US$94.8M) in investment capital before fundraising and deal expenses.
MindMed Co-Founder & Co-CEO, J.R. Rahn said, 'The COVID-19 pandemic has made it clearer than ever that the current global mental healthcare system demands more comprehensive solutions to address multiple mental health and addiction crises around the world. This successful upsized financing from investors offers further validation that psychedelic medicines are being viewed as a promising new frontier in mental health treatments. As we advance and design this new treatment paradigm in mental health and addiction, we believe that interlacing digital therapeutics alongside regulated psychedelic drug development through rigorous science at the FDA and other regulatory bodies will be integral to advancing the potential healing of millions of patients globally.'
The Company intends to use the net proceeds of the Offering for investment in its digital medicine division, additional microdosing research and development, as well as general working capital and corporate purposes, including to further fund its ongoing programs.
Post-financing, the Company now has cash reserves of CA$85M (US$66.4M) to enable development of its digital medical division Albert and continued progress of its clinical trial pipeline of psychedelic inspired medicines and experiential therapies.
With Albert, the Company aims to build an integrated digital platform to improve patient safety, outcomes, and clinical trial design. By pairing digital tools, such as wearables and the latest in machine learning, with psychedelic assisted therapies, MindMed can optimize and better understand the patient journey and therapeutic outcomes from pre-care through to after-care.
Its high af
This is booming even without Nasdaq news. Their trials and timed perfectly who know by the time this is uplisted it’s already double digits.
We skipping $4 again today and knock on $5??
Imperial College Of London To Study Illegal Psychedelic Compound In First-Ever Clinical Trial
Clinical trials on the hallucinogenic drug DMT for the treatment of depression are expected to start in January.
According to The Guardian, the UK's Medicines and Healthcare Products Regulatory Agency (MHRA) gave the green light to the Imperial College of London, in partnership with neuropharmaceutical research company Small Pharma, to begin the trials.
DMT, a strong, short-acting hallucinogenic compound, remains illegal in the UK as in most countries around the globe. It is best known as the active ingredient in ayahuasca, a hallucinogenic drink traditionally used as a spiritual medicine in shamanic ceremonies among indigenous communities in South America.
Studying DMT for Depression
This would be the first time DMT is studied in the treatment of clinical depression.
The institutions stated that the essays will be based on recent clinical research on psilocybin, the active psychedelic compound in magic mushrooms.
In its initial phase, 32 healthy volunteers will be given DMT in order to understand the minimum dose needed to achieve a psychedelic effect. After that, the drug will be administered to 36 separate patients, who have been diagnosed with clinical depression.
The parties still await Home Office approval given the scheduled condition of the drug.
DMT vs Psilocybin: Small Pharma CEO Peter Rands said that DMT's intense, short-acting psychedelic effect could become a viable alternative to psilocybin treatment in cases where patients cannot participate in the long sessions required by the latter.
A typical psilocybin 'trip' will last between two to four hours. In a medical setting, that's accompanied by four more hours of psychotherapy in order to integrate the experience into the patient's life.
DMT typically has an onset and offset time of just 15 to 30 minutes, allowing for faster sessions within the long-term treatment.
More Research Is On Its Way: Earlier this year, New York-based MindMed (MEO: MMED) (OTCQB: MMEDF) announced it will begin studying DMT's correct dosing and duration in a Phase 1 clinical trial conducted in collaboration with University Hospital Basel in Switzerland.
More companies are also looking at clinical research on DMT.
On Wednesday, Entheon Biomedical (CSE: ENBI), a Canadian company focused on studying DMT's medicinal potential, closed a drug-supply agreement with Psygen Labs Inc.Entheon will receive DMT for future formulation, preclinical and clinical research, aimed at receiving post-approval commercialization of the drug. The company expects to start clinical trials on DMT by late 2021, in association with the Centre for Human Drug Research in the Netherlands.
Photo by cottonbro from Pexels.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Volume, market cap and this thing just wanna skip $3 today
There is definitely some talks about canadian holders seeing US equity on their accounts. Is this it?
Is MindMed Creating The Tesla Of Mental Health? Thoughts From CEO JR Rahn, Investor Kevin O'Leary
Mind Medicine (OTC: MMEDF) Co-Founder and CEO J.R. Rahn and investor Kevin O'Leary spoke this week at the inaugural Benzinga Global Small Cap Conference.
O'Leary on MindMed: O'Leary for long had avoided the cannabis sector, despite getting numerous deals offered to him. Cannabis still being a Schedule I narcotic has deterred O'Leary from investing in the space.
The psychedelic industry being used as a medicine for depression, anxiety and opioid addiction, however, attracted O'Leary to the space.
O'Leary met the CEO and Board of Directors for MindMed and told them he was interested in the company if they tackled treatments for mental illness and addiction instead of pursuing recreational drugs.
'I got on board in a big way. I became a spokesman for the sector," O'Leary said, noting investing in the psychedelic and biotech space can be risky. 'What I liked about MindMed was they had multiple opportunities, multiple trials, multiple ideas, multiple markets.'
MindMed has outperformed every one of O'Leary's other investments in 2020.
'That's the one I put my big bet on,' he said, calling Rahn a rock star.
Related Link: MindMed Submits Application To Cross-List On NASDAQ
Rahn on MindMed: Rahn came to the psychedelics space after personal struggles with alcoholism and drug addiction.
'MindMed is a biotech company that happens to be developing psychedelic medicines to treat big problems in society,' Rahn said.
MindMed is focused on FDA trials to prove that the company's treatments are safe to be used.
'We may be creating effectively the Tesla of mental health,' he said.
Unemployment rising during the pandemic is causing addiction rates and mental illness rates to go up, according to Rahn, who said 11% of Americans considered suicide in the month of June.
"That's our addressable market," he said "This market is going to get bigger out of COVID-19.'
MindMed wants to marry psychedelics and digital therapeutics. Psychedelics could be a $100 billion market by some estimates.
Price Action: Shares of MindMed were up 20% on Wednesday to $2.88. Shares have risen 577% in the last six months.
For more on MindMed, check out Benzinga's interview with Rahn last month.
Photo courtesy of Neo Exchange Inc. and Spencer Xiong Photography.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Pullback as expected but atleast we are above $2 all week!
Remember this was under $1 too long then just blew thru $2 in days. Now we’re hitting $3s? Damn
One word.... HISTORIC!!!!
Thank you! Yes you can still trade any your respective exchanges. I was just wondering why they took down the Canadian symbol on their Twitter description
No idea or preparing for Nasdaq??
The $MMED is gone. It use to have both the canadian and us symbols
Look at Mindmed’s Twitter description what do you not notice
Looks next week should be a good start $2 M-F
MM signal 6 Means keep price increasing
Aftermarket buy?
Pomp podcast interviews Kevin O’Leary check around 15:30
We have news:
MindMed Files Preliminary Prospectus In Connection With Bought Deal Equity Financing
https://www.otcmarkets.com/stock/MMEDF/news/MindMed-Files-Preliminary-Prospectus-In-Connection-With-Bought-Deal-Equity-Financing?id=281890