MindBio Therapeutics chief executive officer Justin Hanka.
MindBio Therapeutics chief executive officer Justin Hanka. (Source: MindBio Therapeutics)
  • Psychedelic stock MindBio Therapeutics is revealing positive top-line data from its pioneering microdosing clinical trial to treat depression
  • The drug candidate, a form of LSD, led to a 60 per cent reduction in depressive symptoms among the 20 participants with no severe or serious adverse events
  • MindBio Therapeutics is a biotech and biopharmaceutical company developing treatments for mental health conditions
  • MindBio Therapeutics is down by 79.31 per cent year-over-year and by 53.85 per cent since inception in May 2023

Psychedelic stock MindBio Therapeutics (CSE:MBIO) is revealing positive top-line data from its pioneering microdosing clinical trial to treat depression.

The trial – the world’s first with regulatory approvals for take-home use and handling of a psychedelic medicine by trial patients – demonstrated safe and effective use of MB22001, a proprietary titratable form of lysergic acid diethylamide (LSD), over an eight-week period, including clinically significant reduction in depression measured using MADRS (Montgomery Asberg Depression Rating Scale), a global standard in the psychiatric space.

Among the 20-patient cohort suffering from major depressive disorder, 60 per cent reported a reduction in depressive symptoms, while 53 per cent were remitted from depression, with no treatment-related severe or serious adverse events.

These robust results are in line with the company’s phase-1 trial, which yielded positive safety and tolerance data and significant improvements in mood among 80 healthy individuals.

MindBio has collected tens of thousands of data points spanning three years of clinical trials, including psychometric data, speech analytics, sleep, biometric, activity data, EEG, ECG and DNA sampling on the road to building a proprietary treatment model for depression.

The company is also in the middle of a phase 2B trial for late-stage cancer patients suffering from existential distress, a common end-of-life ailment often treated with anti-depressants.

“We are delighted to share that MB22001 showed rapid and statistically significant improvements, with 60 per cent reduction in depressive symptoms and 53 per cent of patients experiencing complete remission from depression,” Justin Hanka, MindBio’s chief executive officer, said in a statement. “The treatment resulted in an impressive mean 14.1 point drop in the Montgomery-Asberg Depression Rating Scale. These phase-2 trial results are transformative for the company as it takes its next steps into late-stage pharma.”

MindBio Therapeutics is a biotech and biopharmaceutical company developing treatments for mental health conditions.

MindBio Therapeutics (CSE:MBIO) last traded at C$0.06 per share. The stock is down by 79.31 per cent year-over-year and by 53.85 per cent since inception in May 2023.

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