Mentioned:
MNMD +3.19% CYBN -5.49%
A Phase III clinical trial for LSD has started dosing patients. Will it change the future of how anxiety is treated?
What’s happening:
- MindMed (NASDAQ: MNMD) has officially begun dosing the first patients in their Phase III clinical trial for MM120 ODT for the treatment of generalized anxiety disorder
Why it matters:
- MindMed’s novel drug MM120 ODT is pharmaceutically optimized form of LSD and this is the first Phase III clinical trial ever that is focused on validating LSD as a potential therapeutic treatment for anxiety
- Psychedelic drug developers have been getting closer than ever to regulatory approvals, with multiple companies starting Phase III clinical trials including Cybin (NYSE: CYBN) recently launching their Phase III clinical trial for major depressive disorder
Going deeper:
- MindMed previously earned a Breakthrough Therapy designation from the United States Food and Drug Administration for MM120 ODT
The intrigue:
- Psychedelic science and research has been continuing to ramp up of late, with the United States Department of Veteran Affairs just recently announcing their first funding commitment to a psychedelic medicine study in more than seven decades
