Mind Medicine (MindMed) Inc (MNMD)

[MomsSpaghetti]

Psych Sector Quick Overview:

At the moment, there are (I think) 28 publicly traded companies in the sector. They are pretty much all penny stocks, except for Compass and Mind Med. This is a nascent sector and most likely an extended play given the time it takes for the drugs to come to market. Basically the sector can be divided into three main groups: 1) Drug Developers, 2) Clinic Companies, and 3) Recreational Companies. Many companies blend these different categories but the one we are looking at today is predominantly in the drug development space. The drugs they are working on can be classified into two distinct categories: 1) Classical psychedelic compounds (Psilocybin, LSD, DMT, etc.) and 2) Novel psychedelic compounds (Derivatives and Novel Formulations). MindMed is focused on developing a blend of these two. There's an incredible wealth of research that has gone into these substances and how they are presumed to be far more effective than traditional therapy options in treating a variety of psychological disorders and ailments. In fact, Ketamine is already being used in assisted therapy in many places around the world. The sector had quite the run last fall and early into the new year. Looking like there might be another run based on a couple of big-name catalysts in the coming weeks. Because of the volatility and anecdotal hype, plenty of people have likened the sector to weed. But anyone who has felt the benefits of these drugs knows it's not the same. Sure, most of the companies are going to fail, and many don't have a lot to offer at all. However, MindMed is one of the biggest names, with the biggest backers and the most expansive drug pipelines, so it's nice to think they are in a league of their own.