Biotechnology company engaging in developing and deploying psychedelics infused drugs to treat mental conditions Mind Medicine (MindMed) Inc. is set to start trading on NASDAQ on April 27 making it the second United States psychedelics company to go hit the stock markets after Compass Pathways PLC. (CMPS)
U.S based psychedelics companies are now seeking listing on the stock markets at a time when the psychedelics sector has been making remarkable breakthroughs. Atai Life Sciences has also filed for listing this will see the company become the third U.S psychedelics company to get listed on the stock markets.
Atai Life Sciences filed for its initial public offering with the market regulators last week.
Citing the co-founder and chief executive of MindMed, JR Rahn, believes growth of psychedelics companies and the industry at large is tied to rampant mental challenges awareness during the pandemic.
The chief executive also hops listing on the capital markets will give the company access to expand and penetrate the psychedelics industry deeper.
The CEO says often people confuse cannabis companies with psychedelics companies “Our company’s objective is not to make your Burning Man experience more pleasurable, our objective is to treat mental health,” added Rahn.