Psychedelics Stock MindMed Debuts On Nasdaq

Mind Medicine Inc. MNMD commenced trading its subordinate voting shares on The Nasdaq Capital Market Tuesday, under the ticker symbol “MNMD,” as previously announced.  

The psychedelic medicine biotech company said it will continue to list on the Neo Exchange Inc. under the symbol “MMED,” while subordinate voting shares will transform from the OTCQB under the symbol “MMEDF” to “MNMD.”

MindMed will hold a live bell-ringing ceremony Thursday to celebrate the Nasdaq listing. 

When the company first confirmed last week that it had obtained all the requirements to list on the Nasdaq, CEO and co-founder J.R. Rahn said it's an important milestone in the company's development. 

“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,” the CEO said. 

MindMed's Recent Updates 

Recently, the company released the results of a study on MDMA dosing optimization using personalized medicine, which could help advance the medical benefits of the treatment while minimizing adverse reactions. 

Before that, MindMed released full-year 2020 earnings with a net and comprehensive loss of $35.1 million.

MNMD Price Action

MindMed shares were trading down 14.96% at $4.83 at last check Tuesday. 

Photo by Sander Mathlener on Unsplash.