Mind Medicine (MNMD) Stock Might Consolidate Before Another Run-Up

Psychedelics based medicine manufacturer Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) (MMED.NE) seems to be on the path to recovery this morning and has jumped by 2% in the early period of trading.

Mind Medicine (MNMD) Stock Might Consolidate Before Another Run-Up

The company, which saw its stock decline by 40% from its recent peak, has not made any new announcement this morning. However, last week, the stock had been in the news after Mind Medicine announced the launch of a new program named Project Angie. The project is going to be focused on developing psychedelics like LSD for the purpose of treating pain.

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At this point in time, the company is working on two different products for treating pain. However, before starting Project Angie, the company is going to commission a study into the possibility of using LSD for the purpose of treating severe pain. It is a significant development for the company and it now remains to be seen if the stock can hold on to its momentum today.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.