Psychedelic medicine and wellness company Mind Medicine (MMED.NE) has emerged as an interesting proposition for plenty of investors. Over the past few months, the Mind Medicine stock has been one of the best performers in the market has recorded gains of 1200% since September 2020.
Considering such stupendous gains made by the stock, it could be a good move if investors took a closer look at Mind Medicine. Last Wednesday, the company announced that it launched the Phase 1 study into its LSD neutralizer technology. The product in question is meant for shortening and reducing the effects of LSD on someone who might be undergoing LSD-based therapy.
It is a major development for Mind Medicine and the excitement among investors with regards to it is understandable. The company has collaborated with the Liechti Lab of University Hospital Basel for the clinical trial in question. It is believed that the Phase 1 study is going to be concluded by the end of 2021.