MNMD - Psychedelic Drugs Prove Their Worth In Clinical Trials
Novel psychedelic drugs have continuously proven their worth in clinical trials. Just recently, one company revealed that it was in the process of finalizing its Phase 1 first-in-human clinical trial plan for its lead psychedelic drug for the treatment of major depressive disorder after receiving feedback from the UK Medicines and Healthcare products Regulatory Agency (MHRA). According to a recent report from Data Bridge Market Research, the psychedelic drug market is expected to grow from $2.99 billion in 2021 to $8 billion by 2029, representing a CAGR of about 13.3%. That means that psychedelic companies like Optimi Health Corp. ( CSE:OPTI ) ( OTCQX:OPTHF ) , Atai Life Sciences ( NASDAQ:ATAI ), Mind Medicine Inc. ( NASDAQ:MNMD ) ( NEO:MMED ), COMPASS Pathways plc ( NASDAQ:CMPS ), and Cybin Inc. ( NEO:CYBN ) ( NYSEAMERICAN:CYBN ) that already have clinical trials in progress are uniquely positioned to take a huge chunk of the market due to their first mover advantage.
Optimi Health Corp. ( CSE:OPTI ) ( OTCQX:OPTHF ) is a Canadian-based psychedelic drug developer backed by billionaire financier and Lululemon founder Chip Wilson. The company is licensed by Health Cana...
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