Mind Medicine Inc. (MNMD) announced significant progress in their Phase 2 trial, which explored the use of LSD as a treatment for generalized anxiety disorder (GAD). This trial focused on MM-120 and its standalone effects, without any additional psychotherapeutic intervention. The results demonstrated a statistically significant improvement in scores compared to placebo by week four.
Measuring participants using the Hamilton Anxiety rating scale, the trial showcased a reduction of 21.3 points or a 7.6-point enhancement over the placebo for a 100 mg dose. Mind Medicine’s CEO, Robert Barrow, expressed enthusiasm about the results, stating, “We are excited by the strong positive results for MM-120 in GAD, particularly given that this is the first study to assess the standalone drug effects of MM-120 in the absence of any psychotherapeutic intervention.” These findings represent a significant advancement in their mission to introduce an innovative treatment for the millions suffering from GAD.
Looking ahead, Mind Medicine plans to hold an end-of-phase 2 meeting with the Food and Drug Administration in the first half of 2024. They anticipate advancing MM-120 to a Phase 3 trial. The company’s stock trading was temporarily halted upon the release of this news. Year-to-date, their stock has experienced a 47% increase, whereas the S&P 500 has gained 22.6%.
