Psychedelics based medicine developer Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) (MMED.NE) had recently hit its lows but now it seems to be on the road to recovery. On Tuesday, the Mind Medicine stock jumped by 6% and took its gains from its recent lows to as much as 20%.
As a matter of fact, the company made a key announcement yesterday as well that might have led to the gains. Mind Medicine announced yesterday that it signed a letter of intent with The Chopra Foundation with regards to raising public awareness and education about the effect of psychedelics-based medicines on mental health issues.
In addition to that, this initiative is also going to work on removing stigmas and also work research in relation to approaches to mental well-being. As part of the joint research activities, Mind Medicine is going to look into ways in which therapists could be armed with digital measurement technologies.
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.