MindMed (NASDAQ:MNMD, NEO:MMED)’s shares moved higher after the biopharmaceutical company released positive topline data from its collaborators’ trial evaluating lysergide (LSD) in the treatment of major depressive disorder (MDD).
After spiking about 10% earlier in the day, MindMed (NASDAQ:MNMD, NEO:MMED) shares were trading up about 0.7% at US$3.12 shortly before 11am in New York.
The company said in a statement that the topline data from the double-blind, active-controlled Phase 2 trial demonstrated significant, rapid, durable and beneficial effects of LSD and its potential to mitigate symptoms of MDD.
The high-dose regimen in which patients received 100 µg at their first dosing day and 200 µg at their second dosing day four weeks later delivered statistically and clinically significant improvements on the primary endpoint, being the change in clinician-rated Inventory of Depressive Symptomatology scores six weeks after the first administration as compared to control, MindMed (NASDAQ:MNMD, NEO:MMED) said.
Clinically significant improvements observed
Data from the secondary endpoints were also encouraging, MindMed reported, noting that the investigational drug was generally well-tolerated.
The trial was carried out by MindMed collaborators Professor Matthias Liechti and Dr Felix Mueller at the University Hospital Basel and the University Hospital of Psychiatry.
"The statistically and clinically significant improvements observed in this study reinforce preliminary findings that have shown the clinical potential of lysergide in anxiety, depression and other brain health disorders,” commented MindMed CEO Robert Barrow.
“These positive findings are particularly relevant to our MM-120 program in generalized anxiety disorder (GAD), given the high degree of comorbidity of GAD and MDD.”
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