MindMed Begins Phase 3 Study of MM120 for Major Depressive Disorder

Mind Medicine ( (MNMD) ) has provided an update.

MindMed has initiated the Phase 3 Emerge study, dosing the first patient with MM120 ODT for the treatment of Major Depressive Disorder (MDD). This study aims to evaluate the efficacy and safety of MM120 ODT compared to a placebo, with results expected in the second half of 2026. The Emerge study is part of a broader Phase 3 clinical development program that includes studies on Generalized Anxiety Disorder (GAD). This initiative reflects MindMed’s commitment to addressing the significant unmet needs in treating MDD, a condition affecting over 21 million adults in the U.S. annually.

Spark’s Take on MNMD Stock

According to Spark, TipRanks’ AI Analyst, MNMD is a Underperform.

Mind Medicine has strong liquidity but faces financial strain due to consistent losses and negative cash flows. Technical analysis indicates a downward trend, exacerbating concerns. The valuation reflects the typical challenges of a pre-revenue biotech firm, resulting in a lower overall score.

To see Spark’s full report on MNMD stock, click here.

More about Mind Medicine

Mind Medicine (MindMed) Inc. is a late-stage clinical biopharmaceutical company focused on developing novel product candidates to treat brain health disorders. The company is working on a proprietary, pharmaceutically optimized form of LSD, known as MM120 Orally Disintegrating Tablet (ODT), for conditions such as Major Depressive Disorder (MDD) and Generalized Anxiety Disorder (GAD).

YTD Price Performance: -25.73%

Average Trading Volume: 1,995,033

Technical Sentiment Signal: Strong Buy

Current Market Cap: $418.3M

See more insights into MNMD stock on TipRanks’ Stock Analysis page.