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Benzinga
Benzinga
Business
Natan Ponieman

MindMed Shares Soar After FDA Approves First Commercial Clinical Trial On LSD In 40 Years

FDA MindMed MNMD

MindMed (NASDAQ:MNMD), a drug development company in the psychedelics space, announced on Tuesday that the FDA has allowed an investigational new drug application for a Phase 2b trial on a proprietary LSD analog.

Shares from the company peaked at $1.30 and closed the Tuesday trading session at $1.17, marking a 25% increase from the previous day.

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