12 Best Psychedelic Stocks to Buy in 2025

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8. Mind Medicine (MindMed) Inc. (NASDAQ:MNMD)

Number of Hedge Fund Holders: 21 

Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) is a clinical-stage biopharma company focused on creating new treatments for brain health disorders and stands eighth among the 12 best psychedelic stocks to buy in 2025.  It is creating a variety of product candidates that impact important neurotransmitter pathways, some with and some without perceptual effects, to become a leader in this sector. With its pipeline, which is intended to enhance patient outcomes in difficult neurological disorders, the company is attempting to solve issues related to brain health.

On November 7, Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) released updates on its clinical studies and financial performance for the third quarter of 2024. To assess MM120 ODT, a kind of lysergide D-tartrate (LSD), for generalized anxiety disorder (GAD), the business is getting ready for its first Phase 3 trial, Voyage, which was scheduled for late 2024. A second GAD trial, called Panorama, is scheduled for 2025.

Additionally, in early 2025, it intends to begin Emerge, its first Phase 3 trial of MM120 ODT for major depressive disorder (MDD). Initial results from these GAD and MDD trials are expected by the business in 2026.

MM402, a modified version of MDMA intended to treat autism spectrum disorder (ASD), is another advancement made by Mind Medicine (MindMed) Inc. (NASDAQ:MNMD). More research is planned to evaluate MM402’s potential to lessen ASD symptoms after a Phase 1 study was finished in October 2024. The FDA has classified MM120 as a breakthrough therapy for GAD because of the high unmet needs, particularly in patients who are resistant to treatment.

The amount of cash and cash equivalents held by the corporation increased from $99.7 million at the end of 2023 to $295.3 million as of September 30, 2024. More than a year after the first Phase 3 data readout for MM120 ODT in GAD is expected, Mind Medicine (MindMed) Inc. (NASDAQ:MNMD) anticipates using this money to fund operations through at least 2027.

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