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MindMed reported positive Phase 2b clinical trial results for MM120 in Generalized Anxiety Disorder (GAD), receiving Breakthrough Therapy Designation from the FDA. Cash and cash equivalents were $252.3 million as of March 31, 2024. The Company is on track to initiate its Phase 3 program for MM120 in GAD in the second half of 2024. MindMed completed a $175.0 million offering, delisted from Cboe Canada, and continues trading on Nasdaq under the symbol 'MNMD'. The Company announced favorable results for MM120 and MM402 programs, with detailed plans and updates on clinical trials and FDA meetings.
MindMed presented Phase 2b study data of MM120 for Generalized Anxiety Disorder (GAD) at the APA Annual Meeting in New York. MM120 showed significant efficacy compared to placebo, with rapid and durable improvements in anxiety symptoms sustained for 12 weeks after a single dose. The study demonstrated a 65% clinical response rate and a 48% clinical remission rate. MM120 also improved depressive symptoms and was well-tolerated with mild to moderate adverse events. New epidemiology studies quantified the burden of GAD in the US.
MindMed, a clinical stage biopharmaceutical company, will host a conference call on May 8, 2024, to discuss first quarter financial results. The company is focused on developing novel treatments for brain health disorders.
