Psychedelic Drugmaker Mindmed Stumbles In Nasdaq Debut, Ceo Says 'still Very Early Innings'

by finance.yahoo.com posted 4months ago 48 views
MindMed’s (MNMD) Nasdaq debut Tuesday made it the second psychedelic drug developer to be listed on a major U.S. stock exchange. UK-based Compass Pathways (CMPS) went public on the Nasdaq in September, while last week Peter Thiel-backed ATAI Life Sciences filed for an IPO. Shares fell 29% in their first day of trading on the Nasdaq, but that’s after they ran up 65% Friday and 33% Monday on the OTCQB market in anticipation of the up-listing. The stock continues to trade on Canada’s NEO Exchange (MMED) and in Germany (MMQ).