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That's strange...I haven't seen any "howls" lately. Very weird? LMAO
Trust me...we can disagree on specific impacts and the precise cause behind MindMed share price moves, but I love this company and have been deep in DD since last March and invested heavily since last April...and I do my research...pretty sure I called the uplist eligibility/timing accurately...albeit I was a few days premature with my hopes of a Bicycle Day announcement...I’m a MindMed lover, not a hater, just feeling like this board doesn’t see that for some reason.
That was a factor...but the boards were bursting with Nasdaq uplist rumors and people were FOMO chasing the run-up...that was a bigger factor in the overall run-up in my opinion...perhaps not the daily on 12/14...but overall.
Clearly MindMed and the entire sector had more than just the unsupported and factually false rumor of an uplist behind it, but my point was it ran that high in December when the company had way less cash, less advanced trials, no partnership with Mindshift, no acquisition of Heathmode, no pending IND on Project Lucy, no near-term results on Phase 1 of 18-MC, no pending Atai IPO which will be a strong catalyst for the entire sector (in my opinion), and no “actual” uplist to Nasdaq with the heightened visibility/investor access/creditability that entails...point being...I’ve been in MindMed and heavy on DD since last summer...but now...who knows where the next 4-8 weeks could take us.
It ran to a USD $5 ATH in December based solely on a completely false (and non-DD based) narrative of an imminent Nasdaq uplist. This time Nasdaq is actually happening and happened after a strong sell-off since February based on zero negative facts/info related to the company (everything, including trial progress, acquisitions, and the company's cash position has improved since the fall), and better yet, it is likely to be followed by (1) the Atai IPO which I predict will crush the market cap of Compass at its peak on Day 1; (2) IND submission to the FDA (for Project Lucy) later this summer; (3) trial data from the expanded phase 1 of 18-MC (highly likely to be positive based on preliminary reports from earlier this year), all of which are strong positive catalysts in their own right. Not to mention the "special shareholder's meeting" to be held on May 27th...not sure what will be discussed and decided on then...but likely something positive (and big) based on my prior experience.
Definitive statement as to why the Controlled Substances Act will not hinder MindMed's Nasdaq uplist (excerpt from MindMed's amended 10-F- link to the full SEC filing is also below):
https://sec.report/Document/0001104659-21-048731/?_gl=1*rbp0ll*_ga*X3I1amFoXzBfZXRhWGxBT1VfN2VBWGRRMUdwbVdtaDdOcEFMdk83YjF6OUhjdnVfOTc0VEV6RDlOWml3SmhnMQ
The United States federal government regulates drugs through the Controlled Substances Act (21 U.S.C. § 801 et seq.) (the “CSA”), which places controlled substances in a schedule. Certain psychedelic drugs, including lysergic acid diethylamide (“LSD”), ibogaine, methylenedioxy-methylamphetamine (“MDMA”), dimethyltryptamine (“DMT”) and psilocybin are classified as Schedule I drugs. While ibogaine is a Schedule I drug in the United (continued on next page)?
TABLE OF CONTENTS (continued from cover) States, MindMed is not developing or working on ibogaine directly. Rather, MindMed works with a non-hallucinogenic synthetic derivative of the psychedelic substance ibogaine, known as “18-MC”, which is a synthetic organic molecule designed around a common coronaridine chemical backbone, which is also common to a number of plant-based medicinal compounds, including ibogaine. 18-MC was the result of a rational drug design program aimed at generating a molecule with anti-addictive properties that lacked the hallucinogenic properties and other toxicities seen with plant-based ibogaine. At this time, 18-MC is not a Schedule I substance in the United States and MindMed does not foresee it becoming a Schedule I substance due to its non-hallucinogenic properties. Certain other jurisdictions have similarly regulated certain psychedelic drugs, including Australia and Switzerland. The United States Food and Drug Administration has not approved LSD, ibogaine, MDMA, DMT, psilocybin, or 18-MC as drugs. MindMed is focused on developing and commercializing psychedelic inspired regulated medicines. While MindMed is focused on programs using psychedelic inspired compounds and classic psychedelics, MindMed does not have any direct or indirect involvement with the illegal selling, production or distribution of any substances in the jurisdictions in which it operates. The Corporation is a neuro-pharmaceutical drug development company and does not advocate for the legalization of any psychedelic substances and does not deal with psychedelic substances except within laboratory and clinical trial settings conducted within approved regulatory frameworks. MindMed’s products will not be commercialized prior to applicable regulatory approval, which will only be granted if clinical evidence of safety and efficacy for the intended uses is successfully developed.
Atai IPO filed with the SEC. The sector’s next leg up is about to begin.
https://www.renaissancecapital.com/IPO-Center/News/80981/German-psychedelics-startup-ATAI-Life-Sciences-files-for-a-
Amen brother.
MindMed is not engaged in any activity that is considered illegal in the US, and thus like Compass is eligible for uplist to the Nasdaq. MindMed's drug trials are being conducted legally in various jurisdiction's around the world, including many in Switzerland, and the trials are being conducted in accordance with FDA requirements and with open, on-going, and continuous discussions with the FDA.
And then there were none...the last mandatory hurdle to uplisting on the Nasdaq Capital Market falls...now our fate lies solely within the discretion of the Nasdaq uplist committee.
Yes it is...coincidence...or synchronicity?
Good to know..it would have to be an announcement post-market close though...as the 90 consecutive days doesn't hit until end of the session tomorrow. That being said...can you imagine the opening price on Monday...it would be a massive gap up from Friday's closing price. That would be something!
Monday announcement...Friday uplist. Unlikely to happen that soon, although it is possible, but it would be great if it does.
The notification by Nasdaq virtually coincides with the announcement to limit to the greatest extent possible any nonpublic leakage. Thus, once MindMed hears from Nasdaq the announcement will be issued virtually simultaneously (i.e., within a very short period of time thereafter). Also, trading on info as clear cut and traceable as approval of an uplist application is virtually 100% assured of leading to an investigation of insider trading. Thus, you won't see any action on the stock until the announcement hits, but once it hits, the SP will react quickly and retailers will be left waiting in the wings if they are trying to "tim" their entry/re-entry.
Who doesn’t...and hopefully this one will be extra, extra, special...or as the Beatles once sang...maybe we’ll see Lucy in the Sky with Diamonds.
Hey BubbalnSC....we get it...you don’t like the stock or think MindMed has value...same goes for you Wolfie...simple solution...don’t invest in the company...you can’t possibly be taking all of this time out of pure generosity to “educate us against our ignorance”...if you don’t like the company, don’t buy the stock and move along to doing due diligence on a company you actually care to invest it...that way you can stop wasting your time and ours.
And then there were 2. 1 more day down, 2 to go. We will be out of the minor leagues very soon. Friday, 4/16, USD $2+ market close. Onward and upward.
I only counted the 5 listed holiday closure days on the OTC website from 12/07/20 on (Xmas day, New Year’s Day, MLK, President’s Day, and Good Friday), but accounting for those 5 takes us through Friday close for 90 consecutive days of USD $2+.
By my calculations it's actually after close of the OTC market this Friday, 4/16, accounting for all weekends and holidays (Xmas day, New Year's Day, MLK, President's Day, and Good Friday), and starting with 12/07/2020 the first day MMEDF closed at USD $2 or above on the OTC. It hopefully shouldn't matter, but just wanted to point that out as only open market days count in the 90 consecutive day calculation. Also, it's conceivable that Nasdaq could delay approval of the uplist until MMEDF meets both the "market value of listed securities standard" and the "equity standard" for uplist to the Capital Market tier of Nasdaq, in which case the uplist would be delayed to early June (as MindMed began operations at the end of May, 2019- although it was first publicly listed in spring of last year via a reverse merger with a Canadian mining company). Just wanted to share the above.
Agreed. RVVTF’s COVID treatment is virtually worthless now, with vaccine rollouts well under way.
Believe me, given that current drugs impacting MindMed’s addressable markers show little to no long-term efficacy, these drugs will be prescribed and sold, in massive quantities. Trials and FDA approval are the only barriers to massive profitability and market cap for MindMed. Significant hurdles, mind you, but ones that all early stage biotech companies must cross- and most don’t have very significant “soft” data sets showing efficacy for their drugs pre-trials. MindMed does.
Fully agreed. All early stage biotechs, by their very nature, have no revenues and burn cash through trials. Either the person in question knows nothing about biotech investing, or they have a competing “conflict of interest” from an investment standpoint. It’s all about “pipeline and potential (addressable market)” for early stage biotechs, and MindMed excels in both areas. GLTA.
It might be smaller in size, but it’s much, much more lucrative. Recreational amounts to a commodity, with profit margins thinned considerably by the numerous players that can enter the marker once legalized. Whereas with psychedelic pharma, you’re seeing a lot of “fly by night” players “entering the psychedelic pharma” game now, but the vast majority of those will be gone in 2-3 years, or swallowed up by the bigger players (Atai, MindMed, Compass, etc.). The handful of winners that are left will profit handsomely, just like non-psychedelic biotechs do, likely through lucrative deals with Big Pharma companies (e.g., perhaps Johnson & Johnson for 18-MC based on the previously listed FDA trial contacts for MindMed’s 18-MC trial, both of whom worked for a J&J subsidiary). There’s a reason why Big Pharma companies, not commodity producers/sellers, are some of the biggest and most profitable companies in the world. Choose your investments wisely in this space, avoid getting tempted by the “flash in the pan” get rich quick micro-caps, wait patiently, and you shall be rewarded handsomely if you hold a long-term winner- which I firmly believe MindMed to be.
Atai IPO planned for next few weeks:
“Billionaire Thiel led a $125 million investment round into ATAI last November and a $157 million round into the company in March. It is now planning an IPO in the next few weeks, according to two sources close to ATAI.“
https://www.google.ca/amp/s/www.cnbc.com/amp/2021/04/09/atai-takes-majority-stake-in-brain-computer-interface-start-up-psyber.html
It’s trading days Jim...not calendar days...which means the market has to actually be open for the stock to “close above USD $2” on any given day...factoring in weekends, and all listed holidays, 90 consecutive days closing above USD $2 on the OTC will be met at market close on 4/16...based on 12/07 as the first day with a USD $2+ closing price on the OTC.
Atai IPO likely to happen in the second half of May or June. An unidentified company source (spoke on condition of anonymity) gave that range and a Q2 IPO target in an article a couple of months back. Nothing certain until the announcement, but Q2 seems logical and other reports have stated “late spring 2021” as well, which aligns with the timing above. And yes, agreed on “he who shall not be named”.
It’s 90 consecutive days with a closing price of USD $2 or higher...but once met...yes...it’s good at that point even if it falls below...but note that there is also uplist qualification via the equity standard...and MindMed will be eligible under that standard come May (when it hits 2 years of operating history) assuming it has a closing price of USD $3 or higher...which it will when the Atai IPO hits...much higher. You can check the exact requirements out at the source (Nasdaq) on page 9 of the link below;
https://listingcenter.nasdaq.com/assets/initialguide.pdf
It’s time for MindMed to finally “graduate” from the “minor leagues” (the OTC), and move on to where it rightfully belongs, the “major leagues” (Nasdaq). Once there, then we begin the journey towards clinching our division (SP = $15-$20+), and finally winning the World Series (SP = $50+).
GE Jim-
MindMed’s uplist application was for the Nasdaq-CM (Capital Market tier). The uplist application explicitly stated that...see my earlier post (copied below):
MindMed applied for uplist under the Nasdaq-CM (Capital Market tier), the uplist application clearly reflected that...and yes...close of the market on April 16th is when MindMed meets the “90 consecutive days with a closing price of USD $2 or above” on the OTC under the “market value of listed securities” standard (1 of 4 alternative ways to qualify for uplist to the Nasdaq-CM). MindMed will also meet the equity standard in May when it has two years of operating history (it was started in May 2019, although not publicly traded until last spring via a reverse merger with a Canadian mining company). Look for an uplist announcement any time after the market close on 4/16. We will be there very soon. GLTA.
1.1 million shares...and I’m not going anywhere. See most of you on the other side.
Oh...and just to be clear...April 16th accounts for all intervening weekends and holiday closures of the OTC market...early “pre-holiday” market closures will not impact the 90 consecutive day (closing price of USD $2 or above) calculation for MindMed. The Nasdaq finish line is close...just hold tight...it will be here soon.
MindMed applied for uplist under the Nasdaq-CM (Capital Market tier), the uplist application clearly reflected that...and yes...close of the market on April 16th is when MindMed meets the “90 consecutive days with a closing price of USD $2 or above” on the OTC under the “market value of listed securities” standard (1 of 4 alternative ways to qualify for uplist to the Nasdaq-CM). MindMed will also meet the equity standard in May when it has two years of operating history (it was started in May 2019, although not publicly traded until last spring via a reverse merger with a Canadian mining company). Look for an uplist announcement any time after the market close on 4/16. GLTA.
Trial delays and extensions happen, and although these are never positives, it’s only trial failures (from an efficacy standpoint) that ultimately doom an early phase biotech stock (particularly one as cash rich and as trial-diversified as MindMed). The unique thing about this space is that many of the drugs in pipeline have massive amounts of broader data supporting the likelihood of longer term positive trial outcomes, even though the precise application/method/molecule (in the case of 18-MC) hasn’t been studied, which makes each of these trials much less risky than traditional pharma drug trials. This fact, coupled with MindMed’s extremely diverse (and ever expanding) pipeline, means the risk of total failure across all drugs/applications/molecules is extremely low. One successful drug/treatment, even if with respect to non-patentable (and thus of a more limited IP protected nature), will take this company to a $4-$5B market cap (minimum). Multiple successes, or one fully patent-protected molecule (like 18-MC), and a $10B market cap will look like an absolute bargain. GLTA.
MindMed 20%+ upswing on the day = wolf muzzle
Anybody who takes profits before the following three events occurs is crazy (in my opinion):
(1) Atai IPO; (2) Nasdaq uplist; and (3) FDA IND decision on Project Lucy (currently targeted for Q3 2021). The first of these will send the whole sector roaring up, especially with media coverage and Peter Thiel’s ownership, like the Compass IPO did last fall. Atai was recently valued, via a private valuation on account of its most recent capital raise, at $2B+...at what market cap do you think the market will value Atai at post-IPO (I predict $3-$5B- and it doesn’t take a genius to figure out what that would do to the MMEDF share price, as Atari’s closest comparable with a current market cap of $800M). Hold, or buy more, unless you’re a trader. GLTA.
Don’t let any howling in the night scare you away, this stock is poised for 3-4X returns by year-end (if not more) from current levels. Due your DD, and you’ll be happy that you did. I’ll everyone on the Nasdaq between now and end of May.
YOU UNDERSTAND! Ahhhhoooooo!
Prediction again: share price of $10-$15 by year-end post uplist, Atai IPO, and FDA (Project Lucy) and trial updates. I hope everyone here that doesn’t have fur is still onboard.
Just go straight to the source at Nasdaq. See page 9 and the associated uplist requirements chart in the link below. MindMed applied for uplist to the Capital Market tier of Nasdaq (Nasdaq-CM). Just FYI. It will meet both the “equity standard” (in May after it reaches 2 years of operations- operations began in May of 2019) and “market value of listed securities standard” (in April once it hits 90 consecutive days with a closing price of $2 or above) in April/May. It’s easier to go directly to the source to cut through any false information.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Agreed. Uplist is coming, and coming soon...it will happen between now and May...as the 90-consecutive days closing at or above USD $2 requirement should be met in mind-April (accounting for market closures on weekends/US holidays) and the equity standard will also be met in May when MindMed hits 2 years of operating history. Contrary to any howls that may come in response to this post, the company started operations in 2019, which is the date that matters for the equity standard (even though it was not publicly traded until last spring via a reverse merger with a Canadian mining company).