Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, announced on Thursday that the previously released positive topline data related to its clinical trial evaluating lysergic acid diethylamide (LSD) in the treatment of anxiety disorders has been published in a peer-reviewed scientific journal Biological Psychiatry.
“This paper further reinforces the positive preliminary evidence for LSD in patients who suffer from anxiety disorders,” said CEO Rob Barrow. “These results are encouraging and supportive of our proprietary MM-120 product candidate in its potential to one day offer a therapeutic benefit for patients suffering from GAD [Generalized Anxiety Disorder] after just a single-dose administration.”
The positive results of the trial were first released in May 2022, presented by the biotech firm’s collaborators Prof. Matthias Liechti and Dr. Friederike Holze at University Hospital Basel in London’s PSYCH Symposium.
Topline data showed a 65% clinical response in subjects treated with LSD while there’s only 9% clinical response in the placebo subjects. Further, effects were optimal after 2 weeks and were sustained up to 16 weeks.
Barrow added that phase 2b trial for MM-120 is ongoing and the firm believes the drug candidate “has a highly attractive commercial opportunity given its potential benefits for GAD patients.”
The firm’s share price has been gradually declining, falling 61% year-to-date on the Nasdaq. After trading consistently under the US$1.00 minimum bid requirement by the exchange, the firm finally completed the proposed 15-to-1 reverse split on August 29.
Mind Medicine Inc. last traded at $12.10 on the NEO.
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