Clinical-stage psychedelic medicine and biotech company Mind Medicine Inc MMEDF, also known as MindMed, is surging again Monday ahead of its Nasdaq debut.
The company's mission is "to discover, develop and deploy psychedelic inspired medicines and therapies to address addiction and mental illness," according to CEO J.R. Rahn.
Mind Medicine announced last Friday it will be uplisted to the Nasdaq on Tuesday, leading to a 40% rise in share price.
“The listing of our stock on the Nasdaq represents a significant milestone in our growth as a publicly-traded company,” Rahn said in a press release. "We believe this listing will increase our visibility in the marketplace, improve liquidity, broaden and diversify our shareholder base, and ultimately enhance long-term shareholder value."
See Also: How MindMed Uses Tech To Innovate, Deploy Psychedelic Mental Health Therapies
Trading will begin Tuesday on the Nasdaq under the new ticker symbol "MNMD." Rahn will appear on Benzinga's "Power Hour" show Thursday afternoon.
MindMed's stock is up another 36% to $4.80 at the time of publication.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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