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• #Novamind stock reddit update

Compass Pathways estimates it can receive up to 7.5 years of intellectual property protection in the U.S. It could also receive market exclusivity, as regulatory authorities have not previously approved psilocybin for treating any kind of depression. If approved, it would also be able to protect and commercialize its findings.Įven though there is nothing new about psilocybin, the company's synthetic variant has received patents. If not, then the company would likely trade at near $0 levels, as it only has about $196.5 million in cash compared to a market cap of $1.98 billion.īased on the results of previous investigations, I think the company has a fair shot of advancing COMP360 to success in later-stage clinical testing. If it proves that COMP360 can treat depression, it would be able to tackle a worldwide patient market amounting to over 320 million people and become a multiple-bagger stock. Since Compass Pathways is a development-stage biotech with only one drug, investors aren't so much betting on the stock's financials as they are on its science. The substance also caused psychedelic effects that generally correlate with therapeutic benefits. Previously in phase 1, it found COMP360 did not cause serious adverse events when given to healthy volunteers. Its phase 2 results will likely come out by late 2021. Compass Pathways is taking the findings one step ahead. The clinical trials are limited by their small scale, as they only enrolled a total of 120 patients altogether. In addition, the efficacy provided by psilocybin bested that of commercially available antidepressants such as citalopram (Celexa), fluoxetine (Prozac), and sertraline (Zoloft) by a very wide margin in comparison to historical studies. Stock accelerators Novamind’ s 52 week stock price high is 2.34 CAD which valued company at 100M it was at a time of hype in cannabis/psychedelic market with Democrats winning election and hope of new legislation since then it slid yet market signs suggest a combination of factors among many are in play as potential accelerators in.

The results had robust statistical significance. Vinco Ventures (BBIG) - The second-most mentioned stock on Reddits. In four out of five clinical trials (the other lacked efficacy data) evaluating psilocybin for treating psychological distress and depression, patients who took the substance demonstrated remarkable relief. Walmart (WMT) - A recession-proof stock according to co host of Benzingas. Recent scientific studies, however, have demonstrated otherwise. It is still being labeled as a Schedule I substance, a classification usually reserved for drugs with high abuse potential and no medical benefits, such as heroin. In 1971, the Nixon administration outlawed psilocybin as part of the War on Drugs initiative. COMP360 consists of synthetic psilocybin (colloquially known as "magic mushrooms"), a substance known to cause hallucinations and induce effects akin to spiritual awakening. The hype surrounding Compass Pathways stems from COMP360, which is under phase 2 investigation for targeting treatment-resistant depression (TRD). In a statement on February 22, Novamind also welcomed its inclusion in the ETF, a milestone achieved less than two months after the company went public on January 5, 2021. Yet based on past, quality of mgmt and timing in market seems very realistic.Image source: Getty Images. And the kicker to apply to list on Nasdaq. Frankly, that could very well be the trigger for much wider support. Numinus To Acquire Novamind For 20.74M In Stock - Benzinga. Bill Mitoulas, Investor Relations Email: bill.

Samantha DeLenardo, VP, Communications Email: medianovamind.ca. Contact Information Novamind Yaron Conforti, CEO and Director Telephone: +1 (647) 953-9512. In fact I could see Novamind using opportunity to execute a $20M private placement priced at $2 (clean with no warrants)to demonstrate institutional support for this valuation. r/Novamind: Novamind Investors Club (CSE: NM OTC: NVMDF FSE: HN2) Content here should. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visitnovamind.ca. My guess is that with above the $2 price point is now realistic.

#Novamind stock reddit update

YE report to show qe# of $2.4M and YE of $6M+ (eOct28)Įxpansion update for 2022 showing growth to at least 25 clinics in at least 3 states (e Oct 22)Īnnouncement of big name addition to Board of Directors (e Nov)Īnnouncement of 2 new clinical trials (by end of Oct) Novamind’ s 52 week stock price high is $2.34 CAD which valued company at $100M - it was at a time of hype in cannabis/psychedelic market with Democrats winning election and hope of new legislation- since then it slid yet market signs suggest a combination of factors among many are in play as potential accelerators in next 30 days:ĭenver report on psilocybin (Nov 9) expected to be national news