MindMed (MNMD) is a psychedelic medicine and therapy developer.
With the rise in mental health issues, and the growing awareness surrounding them, the company is working to cure depression, fight off alcoholism, and help people end their addictions to other, more dangerous, drugs out on the market.
Published research and studies show that psychedelics have the potential to help individuals suffering from major diseases ranging from Alzheimer’s to schizophrenia as well.
And with more active trials than any other biotech company in the space, the firm is making significant progress in creating psychedelic treatments for clinical use. Currently, it has several Phase I and Phase II trials active.
So far, no psychedelic treatment has made it to Phase III. This means that if MNMD makes any breakthrough, it could see a surge in share value in the coming years.
Still, with MNMD trading as a penny stock on the Nasdaq, there are risks to investing in the company. But with those risks, come massive potential gains.
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