Mindset Pharma leading the charge to advance psychedelic medicines to treat mental illness
- Mindset Pharma says further preclinical results for its MSP-4018 drug candidate demonstrate strong efficacy and improved safety profile
- Maxim Group hikes price target for Mindset Pharma to US$1.50 after the company develops a specialized preclinical rodent model
- Mindset Pharma say latest results further validate lead candidate's comparison to psilocybin
Quick facts: Mindset Pharma Inc
Price: 0.84 CAD
Market Cap: $60.66 m
About the company
Mindset Pharma is a drug discovery and development company focused on creating optimized and patentable next-generation psychedelic medicines to treat neurological and psychiatric disorders with unmet needs. The company was established to develop next-generation pharmaceutical assets that leverage the breakthrough therapeutic potential of psychedelic drugs. Mindset is developing several novel families of next generation psychedelic compounds, as well as an innovative process to chemically synthesize psilocybin along with its own proprietary compounds.
How it is doing
Mindset Pharma Inc has announced that preclinical proof-of-concept data comparing its clinical candidate, MSP-4018, against 5-MeO-DMT further demonstrate strong efficacy and an improved safety profile as a next-generation psychedelic medicine.
Mindset, a drug discovery and development company focused on creating next-generation psychedelic medicines to treat neurological and psychiatric disorders, said due to the strong preclinical efficacy and safety data in support of MSP-4018, combined with its expedited manufacturing process, it believes its Family 4 clinical candidate has the potential to provide a safer and more scalable therapeutic alternative to its first-generation 5-MeO-DMT.
“We believe this preclinical data will enable us to quickly advance this novel compound into human clinical trials,” CEO James Lanthier said in a statement.
Mindset’s Family 4 compounds are DMT and 5-MeO-DMT-inspired novel drug candidates that offer a broad range of pharmacological diversity suitable for in-clinic settings. The company has run a battery of specialized in-vitro and in-vivo tests on its patent-pending novel compounds to select the optimal psychedelic drug candidates for progressing towards human clinical trials.
Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF, FRA:9DF), a drug discovery company focused on creating next-generation psychedelic medicines to treat neurological and psychiatric disorders, announced that its lead candidate MSP-1014 was comparable to psilocybin assessed using a drug discrimination assay.
The Toronto-based company said the results suggest that MSP-1014 induces a “similar perceptual state to psilocybin, further confirming the viability of MSP-1014 as a therapeutic analog of first-generation psilocybin” as the company advances MSP-1014 into the clinic.
Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF, FRA:9DF). has selected Treatment-Resistant Depression (TRD) and End of Life Cancer Angst as initial target indications for its lead clinical candidate MSP-1014.
The company said MSP-1014 is a novel patent-pending drug candidate that, based on preclinical data, shows potential to be a safer second-generation psilocybin-like therapy with decreased potential for side effects.
What the brokers say
Maxim Group has increased its price target for Mindset Pharma Inc. to US$1.50 from US$1.00 and repeated its 'Buy' rating on the stock after the company recently announced that it has developed a specialized preclinical rodent model for its next-gen psychedelic drug pipeline in collaboration with InterVivo Solutions.
In a note to clients, Maxim's analysts said: "Mindset is making progress across its families of next-gen psychedelic compounds, demonstrating improved pharmacological and safety profiles across preclinical studies. With a new model in hand to better evaluate these effects in vivo and potentially accelerate testing, we believe there is increased value in the company's next-gen pipeline."
They added: "Based on the preclinical data confirming the target profiles of Mindset's families of psychedelic compounds, we have modestly increased the platform value in out years for the company's next-gen compound platform. The net result is an increase in our price target to $1.50 USD, from $1.00 USD."
What management says
Mindset Pharma Inc (CSE:MSET, OTCQB:MSSTF, FRA:9DF) (CSE:MSET) (OTCQB:MSSTF) (FRA:9DF) CEO James Lanthier and Chief Scientific Officer Joseph Araujo tell Proactive that its lead candidate MSP-1014 was comparable to psilocybin assessed using a drug discrimination assay.
Araujo and Lanthier explain how the Toronto-based company's results suggest that MSP-1014 induces a “similar perceptual state to psilocybin, further confirming the viability of MSP-1014 as a therapeutic analog of first-generation psilocybin” as the company advances MSP-1014 into the clinic.
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