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The latest announcement is out from Mindbio Therapeutics Corp. ( (TSE:MBIO) ).
MindBio Therapeutics Corp. has announced the nearing completion of its Phase 2B trial for its lead candidate drug, MB22001, a microdose formulation of LSD designed for at-home use in treating Major Depressive Disorder. The results of this trial are crucial as MindBio is the only company with approvals for take-home use of psychedelic medicine in late-stage trials, potentially advancing MB22001 to Phase 3 trials and commercialization. The company has also established a new subsidiary, MindBio Therapeutics Labs Pty Ltd, to explore research opportunities in Australasia, backed by convertible loans from Shape Capital Pty Ltd and CEO Justin Hanka. Additionally, MindBio has issued 61,500,000 Restricted Stock Units under its Omnibus Incentive Plan to directors, officers, insiders, employees, and consultants in lieu of cash compensation.
More about Mindbio Therapeutics Corp.
MindBio Therapeutics Corp. is a clinical-stage biopharmaceutical company focused on developing novel psychedelic-based medicines for mental health disorders. The company is pioneering microdosing to provide safe, effective, and scalable treatments for conditions such as depression and anxiety, with a mission to improve global mental health outcomes through innovative, evidence-based treatment that is accessible and affordable.
Average Trading Volume: 236,808
Technical Sentiment Signal: Sell
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