Mind Medicine assumed with a Buy at Roth Capital

Roth Capital analyst Jonathan Aschoff assumed coverage of Mind Medicine with a Buy rating and $25 price target. Aschoff expects Phase 2b and Phase 2a results in GAD and ADHD for MM-120 before YE23, the analyst tells investors in a research note. The company also expects MM-402, Mind Medicine’s synthetic R-enantiomer of 3,4-MDMA, to enter the clinic at least initially for autism spectrum disorder, with Phase 1 trial initiation is expected in 2023, Aschoff adds.