Why MindMed Is Rising In Pre-market?

Mind Medicine (MindMed) Inc. (MNMD) said the FDA has cleared the company's Investigational New Drug application, allowing its phase 2b dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder to proceed. The company said it is working with study investigators and clinical trial sites to prepare for participant enrollment, which is expected to start in early 2022.

The company said the previously announced clinical hold on the IND was lifted following its rapid responses for additional information related to the participant monitoring protocol in the upcoming study.

Shares of Mind Medicine (MindMed) were up 11% in pre-market trade on Tuesday.

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