Psychedelics Stock MindMed Skyrockets On The News Of Nasdaq Trading

Mind Medicine Inc. MMED MMEDF MMQ confirmed Friday it will commence trading on the Nasdaq Capital Market under the ticker symbol “MNMD” on April 27th.

The psychedelic medicine biotech company reported its subordinate voting shares have obtained the necessary authorization to list on Nasdaq. MindMed will continue to list on Neo Exchange Inc., and its subordinate voting shares will remain listed on the OTCQB until trading on the Nasdaq begins.

“The listing of our stock on the Nasdaq represents a significant milestone in our growth as a publicly-traded company,” J.R. Rahn, CEO and co-founder of MindMed, stated. “We believe this listing will increase our visibility in the marketplace, improve liquidity, broaden and diversify our shareholder base, and ultimately enhance long-term shareholder value.

See also: How to Invest in Cannabis Stocks

“I would like to thank our employees, management, directors and our many collaborators for their hard work in making MindMed a member of the Nasdaq exchange, an important step that will help facilitate our mission to discover, develop and deploy psychedelic inspired medicines and therapies to address addiction and mental illness.”

Recently, the company released the results of a study on MDMA dosing optimization using personalized medicine, which could help advance the medical benefits of the treatment, while minimizing adverse reactions at the same time.

Somewhat earlier, MindMed reported full-year 2020 earnings with a net and comprehensive loss of $35.1 million.

MindMed’s shares were trading 39% higher at $2.96 at the time of writing.

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