Thursday, Mind Medicine Inc. (MNMD) revealed that the FDA has granted breakthrough designation to its MM120 also known as the lysergide d-tartrate program for treating generalized anxiety disorder. Following this news, the stock is up 45%.
The company stated that the FDA breakthrough designation will accelerate the therapy's development, having already met its primary endpoint in the Phase 2 trial. The Phase 2b trial, which utilized an MM120 100 ug dose, exhibited a 65 percent clinical response rate and a 48 percent clinical remission rate sustained through week 12 compared to a placebo.
MindMed plans to convene an End-of-Phase 2 meeting with the FDA in the first half of 2024 and commence a Phase 3 clinical program in the latter half of the same year.
MNMD is trading on the Nasdaq at $8.61, up 45.02% or $2.67 per share.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.