MindMed Begins Trading on Nasdaq

MindMed, a psychedelic medicine biotech firm, is now on the Nasdaq Capital Market. Trading of MindMed shares began on Tuesday under the symbol “MNMD.”

The company also trades on the Canadian exchange NEO (symbol: MMED) and in Germany (symbol: MMQ).

MindMed has been active in recent months. In October, the company announced a commitment to provide $5 million over five years for a psychedelic medicine research training program in collaboration with NYU Langone Health and NYU Grossman School of Medicine. In December, MindMed announced it had completed a pre-investigational new drug meeting with the FDA on its development of LSD-assisted therapy for the treatment of anxiety disorder.

The company has also launched a clinical trial to evaluate the use of MDMA and LSD in combination to determine whether the former can increase positive effects and reduce negative emotions and anxiety sometimes associated with the latter. A separate MindMed study, announced in February, is looking at a “neutralizer” technology that could create an “emergency shut-off switch” that shortens and stops bad effects of LSD used in psychedelic-assisted therapy.