MindMed stock jumps 4.5% after psychedelics company reports positive findings in trial of LSD as treatment for major depressive disorder

The stock of psychedelics company Mind Medicine Inc.
MNMD,
+0.97%
rose 4% Friday, after the company’s Swiss research partners reported positive results from a Phase 2 trial of LSD as a treatment for major depressive disorder, or MDD. The trial involving 61 patients showed “rapid, durable and beneficial effects” of LSD in mitigating the symptoms of MDD, the company said in a statement. The high dose regimen involved giving patients 100 ug on the first dosing day, followed four weeks later by a 200 ug dose. The primary endpoint was to show statistically and clinically significant improvements using the clinician-rated Inventory of Depressive Symptomatology, or IDS, scores six weeks after dosing compared with the control group. The research was conducted by Prof. Matthias Liechti and Dr. Felix Mueller, MindMed collaborators at University Hospital Basel and the University Hospital of Psychiatry. The data has direct relevance to MindMed’s MM-120 program as a treatment for generalized anxiety disorder, which is in a Phase 2 dose-finding trial. MindMed stock has gained 47% in the year to date, while the S&P 500
SPX,
-0.47%
has gained 7%.