Shares of MindMed (NASDAQ: MNMD) were up in morning trading on Friday after the clinical-stage biopharmaceutical company announced positive topline data from a double-blind, investigator-initiated trial evaluating lysergide in the treatment of Major Depressive Disorder (MDD).
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The topline data demonstrated the “significant, rapid, durable and beneficial effects of lysergide and its potential to mitigate symptoms of MDD.” In the trial, patients after receiving 100 µg at their first dosing day and 200 µg at their second dosing day (separated by four weeks) showed “statistically and clinically significant improvements on the primary endpoint.”
Robert Barrow, CEO of MindMed commented, “The statistically and clinically significant improvements observed in this study reinforce preliminary findings that have shown the clinical potential of lysergide in anxiety, depression, and other brain health disorders. These positive findings are particularly relevant to our MM-120 programming generalized anxiety disorder, given the high degree of comorbidity of GAD and MDD.”
Over the past five trading sessions, MNMD stock has gained by more than 10%.
