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Psychedelic Medicine; the Run on Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) (FRA: MMQ)

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Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) (FRA: MMQ) is an exciting Company making big moves in Psychedelic medicine that has seen a wild ride up the charts In recent months; the Company has some exciting irons in the fire including a planned Phase 2a study of its 18-MC product, in opioid addiction by the end of this year. MindMed and the University Hospital Basel’s Liechti Lab also recently announced they are combining MDMA and LSD in a groundbreaking Phase 1 clinical trial, scheduled to start in Q4 of this year in Basel, Switzerland. MindMed is fully funded and is focused on up-listing its shares to the NASDAQ; to that end the Company has submitted its application to NASDAQ Capital Markets and has appointed Canaccord Genuity Corp as financial advisor. Kevin O’Leary of Shark Tank fame is an inportant investor in MindMed.

The powerful rise of MindMed comes on the heels of Compass Pathways historic $100 million initial public offering on the NASDAQ Psychedelic medicine is getting noticed by investors since famed Silicon Valley billionaire investor and PayPal co-founder Peter Thiel led an $80 million round of funding for psychedelic-focused biotech company Compass Pathways; Compass is the first company to receive breakthrough therapy designation from the FDA for psychedelic medicine as a therapy for treatment-resistant depression.

Mind Medicine (MindMed) Inc (OTCMKTS: MMEDF) (FRA: MMQ) is a psychedelic medicine biotech company that discovers, develops and deploys psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a compelling drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies. MindMed trades on the Canadian exchange NEO under the symbol MMED. MindMed is also traded in the United States under the symbol MMEDF and in Germany under the symbol MMQ.

MindMed and the University Hospital Basel’s Liechti Lab are combining MDMA and LSD in a groundbreaking Phase 1 clinical trial, scheduled to start in Q4 of this year in Basel, Switzerland. Combined MDMA-LSD treatments have the potential to create next-generation psychedelic assisted therapy paradigms.  MindMed recentlyreceived approval from the ethics committee at the University Hospital Basel to undertake an interim readout and analysis of the Phase 2a study using LSD assisted therapy for anxiety disorders being conducted in Switzerland by Dr. Matthias Liechti and Dr. Peter Gasser. MindMed in partnership with the Liechti Lab will conduct this interim analysis of the Phase 2a clinical trial data in Q1 2021.

MindMed is conducting a Phase 2a Proof of Concept study evaluating microdoses of LSD for the treatment of Adult ADHD has successfully reached an agreement on the study protocol with both the Swiss and Dutch health authorities. MindMed’s clinical and technical operation teams are in the process of producing and preparing the GMP LSD material necessary to begin dosing for the Phase 2a commercial drug trial. MindMed’s clinical and regulatory team has recently completed a pre-IND briefing package and submitted it last week to the FDA in preparation for a pre-IND call with the FDA in December. Data from a recently completed Phase 1 dose range finding study by the Liechti Lab together with multiple other Phase 1 studies conducted both in patients and healthy volunteers over the past 10 years helped define the dosing regimen proposed by MindMed to the FDA for the proposed Phase 2b clinical trial.

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MMEDF

Mind Med is fully funded moving forward; the Company closed another financing on October 30 bringing its cash reserves to USD $37.8 million ($50.1 million CAD) to enable continued progress of its clinical trial pipeline of psychedelic inspired medicines and experiential therapies. In November the Company completed a $25 million offering with Canaccord Genuity Corp as lead underwriter.

Recently management stated it is evaluating an expanded United States investor base through an up-listing on the NASDAQ Capital Market. As part of this up-listing strategy in the United States, MindMed has submitted an application to list its subordinate voting shares on NASDAQ.  The listing of MindMed’s shares on NASDAQ will be subject to a number of regulatory requirements, including review of the company and acceptance for listing by NASDAQ.

MindMed has established a new digital medicine division known as Albert. Albert is in the process of assembling and recruiting a leading team of technologists, therapists, and clinical drug development experts to help the company research, develop and build an integrated technical platform and comprehensive toolset aimed at delivering psychedelic inspired medicines and experiential therapies combined with digital therapeutics. Digital therapeutics are defined as evidence-based therapeutic interventions for patients to prevent, manage, or treat a mental disorder or disease. Pairing digital tools, such as wearables and the latest in machine learning, with psychedelic assisted therapies, can give healthcare providers the ability to optimize and better understand the patient journey and therapeutic outcomes from pre-care through to after-care.

MindMed’s clinical team under the leadership of President and Head of Clinical Dr. Miri Halperin Wernli is designing an experimental clinical trial that pairs non-hallucinogenic psychedelic inspired medicines such as microdoses of LSD with digital therapeutics to track, engage and influence patient behavior. MindMed intends to announce full details of this clinical trial once MindMed and its scientific collaborators finalize the protocol design for submission to relevant health regulators.

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MindMed has also successfully submitted a pre-IND briefing package to the FDA for its Project Lucy, a potential Phase 2b Efficacy Trial evaluating LSD Assisted Therapy in anxiety disorders. In addition, the company has now reached an agreement with University Hospital Basel Liechti Lab to conduct an interim analysis anticipated in Q1 2021 for its Phase 2a clinical trial of LSD assisted therapy for anxiety disorders currently ongoing in Switzerland. MindMed has aplanned Phase 2a study of its 18-MC product, in opioid addiction by the end of this year. MindMed and the University Hospital Basel’s Liechti Lab also recently announced they are combining MDMA and LSD in a groundbreaking Phase 1 clinical trial, scheduled to start in Q4 of this year in Basel, Switzerland. The run on Mind Medicine comes on the heels of Compass Pathways historic $100 million initial public offering on the NASDAQ. Psychedelic medicine is getting noticed and the space is heating up and getting noticed after PayPal co-founder Peter Thiel led an $80 million round of funding for psychedelic-focused biotech company Compass Pathways. MindMed is fully funded with $37.8 million in cash reserves and is focused on up-listing its shares to the NASDAQ; to that end the Company has submitted its application to NASDAQ Capital Markets and has appointed Canaccord Genuity Corp as financial advisor. We will be updating on MindMed when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MindMed.

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Disclosure: we hold no position in MindMed either long or short and we have not been compensated for this article.

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LAVA Therapeutics (NASDAQ: LVTX) Gammabody™ Platform Gains Momentum

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LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc. chose a lead candidate.

LAVA Therapeutics N.V. (NASDAQ: LVTX) shares soared 106% as the company announced that Janssen Biotech, Inc., a part of the Janssen Pharmaceutical Companies of Johnson & Johnson, chose a lead candidate aimed at an undisclosed tumor-associated antigen for further development towards clinical settings.

GAMMABODY™ PLATFORM

LAVA primarily focuses on revolutionizing cancer therapy by developing its Gammabody™ platform. This platform enables them to create bispecific gamma delta T cell engagers that can activate a specific subset of gamma-delta T cells called Vγ9Vδ2 (Vgamma9 Vdelta2) T cells. By utilizing this approach, they aim to enhance the natural recognition of tumors, guide Vγ9Vδ2 T cells to target the tumor cells directly and trigger a cascade of immune responses.

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What sets their Gammabody™ drug candidates apart is their exceptional performance and safety profiles observed in preclinical studies. Compared to other bispecific T cell engager approaches, their candidates have demonstrated superior efficacy and preferred targeting tumor cells. This targeted approach has the potential to minimize toxicity in healthy tissues.

In May 2020, LAVA entered into a research collaboration and license agreement with Janssen, a subsidiary of the Janssen Pharmaceutical Companies of Johnson & Johnson. This collaboration aimed to discover and develop novel bispecific antibody-based gamma delta T cell engagers for cancer treatment. The agreement was facilitated by Johnson & Johnson Innovation, emphasizing their commitment to fostering innovation in the field.

As part of the collaboration, LAVA had the opportunity to receive potential milestone payments and royalties based on the successful development, regulatory approvals, and commercialization of the candidates. This incentivized LAVA to actively pursue the discovery and advancement of promising lead candidates. 

The collaboration represents a remarkable milestone many early-stage biotech companies aspire to achieve. Partnering with a program brings numerous benefits, including reduced risk of dilution through milestone payments as the trials advance and streamlined commercialization once the product receives approval.

Under the terms of the agreement, Janssen will assume responsibility for the selected candidate’s future clinical development, manufacturing, and commercialization. This includes bearing the costs and expenses associated with these activities.

Stephen Hurly, LAVA Therapeutics’s president and chief executive officer, expressed satisfaction with Janssen’s selection of a lead candidate for clinical studies. He emphasized LAVA’s pioneering role in developing gamma-delta bispecific antibodies through their proprietary Gammabody platform. This platform and LAVA’s extensive expertise in bispecific antibody development position them at the forefront of advancing novel therapies for cancer patients.

In summary, LAVA Therapeutics’ collaboration with Janssen has reached a significant milestone in selecting a lead candidate for further development toward clinical studies. This progress underscores LAVA’s dedication to leveraging its Gammabody platform and expertise in bispecific antibody development to revolutionize cancer treatment.

We will update you on LVTX when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Onfolio Holdings (NASDAQ: ONFO) Unleashing the Power of AI

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Onfolio Holdings Inc (NASDAQ: ONFO), a technology services company, has recently introduced an advanced generative AI search function for its subsidiary, MightyDeals.com.

Onfolio Holdings Inc (NASDAQ: ONFO), a technology services company, has recently introduced an advanced generative AI search function for its subsidiary, MightyDeals.com. The implementation of this innovative AI tool, powered by chatGPT-style Large Language Models (LLMs), has resulted in a surge of 105% in the company’s stock price and sparked tons of investor interest. The company has a 3.28M float and, at the time of writing, has traded 20x that amount, with a colossal 60M shares exchanging hands.

Revolutionizing User Experience and Driving Stock Surge

With the integration of AI search on MightyDeals.com, customers can now use natural language to describe the products they seek, simplifying the buying process. The AI tool utilizes contextual understanding and description analysis of hundreds of active deals to generate instant search results based on users’ queries. By enhancing the user experience, Onfolio Holdings anticipates increased user return rates, higher site interaction rates, and elevated revenues for MightyDeals.com. This groundbreaking development has attracted positive attention, significantly increasing Onfolio Holdings’ stock price.

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Evaluating Financial Performance

While the stock surge indicates investor enthusiasm, assessing Onfolio Holdings’ financial performance is crucial for comprehensive investment analysis. The positive earnings growth of +44.44% and revenue growth of +22.74% contribute to the company’s optimistic outlook. However, investors should be cautious of the negative net profit margin of -190.75% and the lack of available price/book ratio data. Monitoring the company’s financial performance leading up to the next reporting date on August 30, 2023, is advised to understand its profitability and overall stability better.

Investment Outlook and Future Prospects

Considering the stock surge and optimistic price forecasts, Onfolio Holdings has promising prospects. Analysts offer a median target price of $3.00 for the company’s stock, signaling an expectation of significant growth within the next 12 months. However, it is essential to note that Onfolio Holdings operates at a loss. Investors should thoroughly evaluate the company’s long-term growth potential and weigh the potential returns against the inherent risks before making investment decisions.

About MightyDeals.com

Mighty Deals is a free daily deals website aimed at creative professionals focusing on products and services for web designers and developers. The site offers fantastic deals on quality fonts, templates, apps, add-ons, plug-ins, ebooks, icons, and more. The site provides discounts on packages which usually range between 50%-97% off but are only available for a limited time. MightyDeals.com boasts an exceptional return rate from its users and is one of Onfolio Holdings’ highest revenue-generating subsidiaries.

About Onfolio Holdings Inc.

Onfolio acquires and manages a diversified portfolio of online businesses across a broad range of verticals, each with a niche content focus and brand identity. Onfolio acquires firms that meet its investment criteria, being that such businesses operate in sectors with long-term growth opportunities, have positive and stable cash flows, face minimal threats of technological or competitive obsolescence, and can be managed by our existing team or have strong management teams largely in place. The Company excels at finding acquisition opportunities where the seller has not fully optimized their business. Onfolio’s experience and skillset allow it to add increased value to these existing businesses.

Conclusion

Onfolio Holdings’ introduction of the generative AI search function for MightyDeals.com has increased the company’s stock price, reflecting the market’s positive response to this innovative technology. The enhanced user experience and the potential for increased revenues have positioned Onfolio Holdings as a leader in the tech industry. However, investors must carefully consider the company’s financial performance and evaluate its long-term growth potential before making investment decisions. Monitoring the company’s performance to the next reporting date will provide valuable insights into its financial health and stability.

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by James from Pixabay

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Enveric Biosciences (NASDAQ: ENVB) Pioneering the Future of Anxiety Disorder Treatment

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Enveric Biosciences, Inc. (NASDAQ: ENVB) shares surged 78% this morning upon approval of some fantastic news.

Enveric Biosciences, Inc. (NASDAQ: ENVB) shares surged 78% this morning upon approval of some fantastic news. The United States Patent and Trademark Office has granted them a notice of allowance for their patent application concerning a groundbreaking chemical compound called EB-373. This compound is being developed to address the treatment of anxiety disorders.

The forthcoming patent, titled “C4-Carbonothioate-Substituted Tryptamine Derivatives and Methods of Using,” encompasses claims for the composition of matter of a family of revolutionary prodrug derivatives of psilocin. Enveric’s lead product candidate, EB-373, stands out among these derivatives. A Notice of Allowance signifies that the USPTO has determined that a patent should be granted based on the submitted application.

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Enveric’s commitment to innovation extends beyond EB-373. They have also submitted additional patent applications to the USPTO, exploring psilocin prodrugs with unique crystalline molecular structures. Moreover, they have taken proactive steps to pursue global coverage of the EVM201 and EVM301 Series through companion Patent Cooperation Treaty and non-US national patent applications. Encouragingly, positive International Search Reports and written opinions have been received under the Patent Cooperation Treaty for most of these applications.

Joseph Tucker, Ph.D., Enveric’s director and CEO, underlined the significance of the USPTO’s favorable decision concerning their lead candidate, EB-373. He highlighted the innovative designs of their psilocin prodrugs within the EVM201 series, differentiating them from conventional counterparts like psilocybin. These novel designs hold the potential to deliver more rapid therapeutic effects, precise control, and reduced gastrointestinal side effects. Tucker emphasized that securing a robust intellectual property portfolio for their new chemical entity prodrugs is pivotal to Enveric’s value proposition and integral to their business strategy of developing cutting-edge small-molecule therapeutics to address mental health disorders.

We will update you on ENVB when more details emerge, so make sure you are subscribed to Microcapdaily to know what’s happening in the markets!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Gino Crescoli from Pixabay

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