Mind Medicine Inc (OTC: MMEDF) is currently one of the leading operators in the psychedelic medicine biotech industry but recently, the company’s stock suffered a significant decline.
After having hit its highest level in 52 weeks two months back, the stock has declined by as much as 45%. However, in recent days, the stock has been in recovery mode and it might just be the sort of situation in which investors might start taking a big interest in the company.
Towards the end of March, the company announced its financial results for the full year 2020. The company reported that it had assets to the tune of $85.6 million as of December 31, 2020. That also included cash of $80.1 million. On the other hand, the company had a cash burn of $24.2 million for the year. In the full year, Mind Medicine ended up making a total loss of $35.1 million. Investors could consider keeping track of any news about the company at this point.
Writing for business and finance publishers has become his passion over the last decades after he completed a master’s degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.