The Shroom Boom Continues as Investors Scramble to Find the Next Big Psychedelic Stock Opportunity - This Company Already Has Multiple Phase 2 Clinical Trials
On Friday, June 12, 1970, Major League Baseball pitcher Dock Ellis, who played for the Pittsburgh Pirates, became a baseball legend. Ellis threw a no-hitter, which is a perfect game in baseball terminology, and he did it while he was tripping on LSD.
It’s quite a remarkable story, and truly an amazing accomplishment altogether, and part of a bigger story surrounding the ties between PEDs and how they’ve been boosting elite athletes’ success for centuries. But while in the past the focus has been on how these performance enhancing substances can enhance physical performance, for obvious reasons, little attention has been given to how certain substances can help combat other issues, such as anxiety, depression, addiction, and even brain trauma.
A recent episode of HBO’s Real Sports with Bryant Guembel highlighted the lives of four athletes who have seen life-altering benefits from the use of psychedelics. Each of the former professional athletes, Daniel Carcillo (NHL), Kerry Rhodes (NFL), Ian McCall (UFC), and Dean Lister (UFC) played tough, gruelling sports that took a toll on both their physical bodies and their mental health.
Chronic traumatic encephalopathy, or CTE, is a progressive and fatal brain disease associated with traumatic brain injuries (TBIs), including concussions and repeated blows to the head.1 CTE is commonly seen in athletes that engage in highly physical, Gladiator-style sports, such as football and boxing. While it’s not likely that spectators will stop watching these physically combative sports any time soon, the need for therapeutic treatments and alternative medicines is in high demand.
Validation for these radical alternatives is garnering interest from major medical institutions. For example, John Hopkins University recently launched the Center for Psychedelic and Consciousness Research and already has the UFC interested, after another one of their fan favorite athletes was declared permanently disabled.2 Notably, cities are beginning to decriminalize the use of psychedelics: Denver, Oakland, Santa Cruz, Somerville, and Vancouver (Canada), have already done so, and now the entire state of Oregon has not only decriminalized psilocybin but legalized it for therapeutic use.3
In addition, the FDA has recently given three psychedelic therapies, including MDMA Assisted Therapy and Psilocybin Assisted Therapy, a Breakthrough Therapy Designation, potentially speeding up a future approval of a psychedelic medicine.
One Leading Psychedelic Company is Focused on Creating Next-Gen Medicines to Address a Growing Global Mental Health Crisis
Mind Medicine (MindMed) Inc. (NEO: MMED, FRA:MMQNEO: MMED, 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 was the first company to go public in the psychedelic medicine space and is a pioneer in the psychedelics market. It is backed by big-name investors including Kevin O’Leary, the notorious Dragon’s Den and Shark Tank investor, and Bruce Linton, the founder and former CEO of Canadian cannabis producer Canopy Growth.
There’s been a strong interest for MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) stock, with the company recently closing an upsized financing of C$92.1 million,4 having raised a total of C$237.2 million to date. Not only has the Company successfully attracted retail investors, but there is also strong institutional interest, with the leading psychedelics market investment bank Canaccord Genuity sponsoring MindMed and providing analyst coverage.
With a war chest of cash, MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) is focused on assembling a compelling pipeline of innovative treatments based on psychedelic substances, including Psilocybin, LSD, MDMA, DMT, and an Ibogaine derivative, 18-MC.
As 40% of US citizens experienced a mental health issue or substance abuse addiction during the current health crisis, and a further 11% considered suicide, MindMed. (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) is preparing three separate phase II clinical trials; one focused on using LSD Assisted Therapy for Anxiety, another using smaller amounts of LSD known as LSD microdosing for Adult ADHD, and the last is focused on the $700 billion a year opioid crisis using the Company’s Ibogaine derived molecule, 18-MC, to create a potential “antibiotic for addiction.”
The MindMed. (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) executive team brings extensive pharmaceutical industry experience to the company’s groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies
- Company is fully-funded with C$183 million in cash, to execute on its plans.
- Pioneers in establishing a new category of medicine to address growing mental health crisis (40% of US has mental health illness or addiction, 11% considered suicide, according to CDC)
- Robust development pipeline, with $100+ billion dollar total addressable market of new asset class of medicines
- First company in history with a clinical trial combining LSD and MDMA.
- Growing library of intellectual property, with a strong research and development team in Switzerland and US
- Potential for Breakthrough Therapy Designation on Phase 2 clinical trials
- Seasoned Leadership Team and Roster of High-Profile Stakeholders (Bruce Linton, Kevin O’Leary)
While mainstream news has been focused on a myriad of hot-button topics such the US election, the global pandemic, and civil unrest, major news outlets have for the most part brushed over a deeper and growing health crisis potentially far bigger than the pandemic itself that has been brewing, and could have far-reaching consequences for society for years to come.
We are in the midst of a growing global mental health crisis that may prove to be more impactful than a virus. Anxiety already plagues over 40 million Americans5 and more than 284 million people worldwide,6 and the pandemic is only making things worse. A recent poll conducted in mid-July reported that 53% of adults in the United States said their mental health has been negatively impacted due to worry and stress over the pandemic. This is where companies like MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) are looking to step in.
Many adults are also reporting specific negative impacts on their mental health and wellbeing, such as difficulty sleeping (36%) or eating (32%), increases in alcohol consumption or substance use (12%), and worsening chronic conditions (12%), due to worry and stress over the coronavirus.7
Putting it all together, it’s shocking how damaging this mental health crisis could prove to be to society, with prolonged effects that will likely impact peoples’ work productivity, family relationships, and overall contribution to society. To cope, people have been turning to legal substances like alcohol, which is a depressant that has long-lasting negative effects on the brain and body and can worsen the symptoms of anxiety and depression, and prescription anti-depressants and sleeping pills that are highly addictive.
But now, psychedelics, which were once the subject of great controversy and negative stigma, are quickly becoming legitimized as a treatment for a wide range of mental health and addiction issues. We are experiencing a revival of scientific and clinical research into alternative psychedelic therapies, which are emerging at the forefront of innovation in the treatment of mental health issues.
Mind Medicine Inc. (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) is using substances like psilocybin (an active ingredient in “magic mushrooms”), LSD, and MDMA (also known as “E”) to combat psychiatric conditions like anxiety, opioid withdrawal, and attention deficit disorder (ADHD). While treatments for some of these mental disorders already exist, many are not curative, nor are they completely effective in all patients – many also carry with them side effects that can be detrimental.
MindMed is developing formulations of psychedelic substances that can bypass the negative side effects of existing prescription medications. When used under the appropriate therapist guidance and setting, these psychedelic substances show promise for substantially improving well-being and reducing mental health issues, alongside an excellent safety profile.
And, the Company is soon entering Phase II Clinical Trials for not one, but three psychedelic programs: 18-MC (an Ibogaine Derivative) for opioid withdrawal treatment, Microdose LSD for Adult ADHD, and LSD Assisted Therapy for Anxiety Disorders.
Most recently, MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) officially launched Project Lucy, a commercial medical development program for the treatment of anxiety disorders.8 The company plans to initiate a Phase 2b human efficacy trial of LSD, which is focused on experiential or “hallucinogenic” doses of LSD, administered by a therapist. Project Lucy is the first experiential, psychedelic-assisted therapy in MindMed’s development pipeline, offering investors a unique and potentially very lucrative opportunity.
But that’s just one area where MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) is making serious progress. The company is also entering Phase II Clinical Trials for the use of 18-MC (an Ibogaine derivative), for addiction treatment, which seeks to address the ongoing opioid epidemic that is affecting millions of Americans and has cost the US economy trillions of dollars so far. In fact, the opioid crisis was estimated to cost American society approximately $631 billion between 2015 and 2018.9 And just like anxiety and depression, the opioid crisis has only been getting worse during COVID-19, especially with more people turning to meds to overcome pandemic-related stress.
MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) is the only publicly listed Psychedelics company that has not one, but THREE Phase II Clinical Trials in progress. In addition, the company is collaborating with Leading Psychedelic Researchers in Switzerland and the Netherlands, and has purchased and received an Exclusive License to ONE OF THE LARGEST portfolios of data on both LSD and MDMA as potential medicines. MindMed is conductingMultiple Ongoing Phase 1 Trials on DMT, MDMA, LSD, MDMA-LSD, and Psilocybin with one of the leading research labs globally for psychedelic R&D in Basel, Switzerland, the birthplace of LSD.
In comparison to Compass Pathways, which broke into the public markets psychedelics game last year when it IPO’d in September as the first psychedelics company on a big US exchange, MindMed has a potential major leg up thanks to having more trials than Compass. Compass currently has only one, singular trial ongoing, for the use of psilocybin therapy on treatment-resistant depression – and if that trial isn’t successful, Compass doesn’t have anything to fall back on as of yet.
Why does the number of trials a company has planned or ongoing matter? Well, it comes down to having more skin in the game. Just like any biotech or pharmaceutical company, the more clinical trials a psychedelics-focused company has, the more molecules it is working with and the more formulas it can develop – the greater amount of chances it has of bringing its products into commercialization. In other words, the more “shots on goal” a psychedelics company has, the more chances it has to net a big win. And so far, Mind Medicine (MindMed) Inc. (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) is ahead of the game.
The Pandemic is Ushering in This Next Trillion-Dollar Industry According to The Economist
While 70% of American hospitals still fax and mail patient records and 60% of US counties do not have a SINGLE psychiatrist, it’s becoming obvious that there’s a growing need for change fast. Innovative digital medicine platforms are needed to scale and launch psychedelic medicines and new approaches to mental healthcare. In fact, McKinsey estimates that global digital-health revenues—from telemedicine, online pharmacies, wearable devices, and so on—will rise from $350 billion last year to $600 billion in 2024. Large parts of America’s $3.6 trillion health-care market are in for a complete digital makeover and MindMed is leading the charge with a potential solution for Mental Healthcare capable of scaling psychedelic medicines and measuring patient outcomes for various mental illnesses. MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) recently launched a digital medicine division, Albert, named after the inventor of LSD, to build out this much needed infrastructure.
MindMed will also be acquiring HealthMode, a leading machine learning digital medicine company. HealthMode uses AI-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. MindMed plans to incorporate HealthMode into Albert, which will help to further MindMed’s goal of integrating digital medicine into the psychedelics industry, creating an all-encompassing digital mental health platform for psychedelics medicine.
MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) Co-Founder and Co-CEO J.R. Rahn said, “We believe that the next frontier in psychedelic medicine will be to quantify with great precision psychedelic assisted therapy’s impact on patient populations. This new division [Albert] will not only build apps, technologies and other platforms to help the patient, but hopefully also make the medical community comfortable with this novel treatment paradigm for mental health and addiction by measuring the potential value to their patient populations and ultimate savings to insurers.”
Recent advancements in digital therapeutics have the potential to enable a real-time assessment of efficacy in both clinical trials and real-world settings, leading to a more robust understanding of the value of a treatment and long-term impact on patient outcomes.
Why Peter Thiel, Silicon Valley, and Wall Street are Piling Money into Psychedelic Therapies and Mental Healthcare
While psychedelic medicine is gaining momentum in the scientific community, it’s also attracting Silicon Valley and Wall Street investors – great news for companies like MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ).
Peter Thiel, the iconoclastic Silicon Valley investor and Facebook board member, is a key figurehead for multiple sectors and is now actively investing in the psychedelics market. Thiel has been backing a German company called ATAI Life Sciences, which had the largest ever private financing round for a psychedelics medicine biotech company, after the US Food and Drug Administration approved Johnson & Johnson’s ketamine-like nasal spray for depression. They’ve since raised another $125 million dollars to advance their own pipeline and invest in other psychedelic companies.
One such company is Compass Pathways, which was the first psychedelic drug developer to list on the NASDAQ and is now valued at US$1.6 billion as of January 29, 2021. The explosion of interest in the sector has continued to attract multiple new initial public offerings and institutional interest.
Investment banks such as Canaccord Genuity Corp, Eight Capital, CIBC, and Gravitas Securities have led multiple financings raising many millions of dollars for new psychedelic companies going public.
As earlier noted, heavyweight investors, Kevin O’Leary (Shark Tank) and Bruce Linton (Canopy Growth) are also backing the industry as founding investors in Mind Medicine (MindMed) Inc. (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ), which has raised a total of roughly C$237.2 million dollars (US$183.8 million). Not only is MindMed a leader as one of the earliest psychedelic companies to go public, it’s also attracted significant investments to capitalize on it’s robust drug pipeline. Having a lot of capital is extremely important for a psychedelic company especially, because it means having the money to fund clinical trials, which are known to be quite expensive. MindMed clearly demonstrates that it’s able to raise the capital needed to fund these all-important trials.
One signal that demonstrates that this trend is early, and here to stay is the global launch of Horizons ETFs ‘Horizons Psychedelic Stock Index ETF’. This is the first ETF offering dedicated exposure to the psychedelics sector. As larger institutions seek exposure to the sector, they will turn to indexing and naturally, all the companies included in the ETF will benefit. MindMed (NEO: MMED, FRA:MMQNEO: MMED, FRA:MMQ) happens to be one of the core holdings, making up approximately 9.80% of the index.1
Leadership Team: The Perfect Blend of Technologists, Acclaimed Scientists, Mental Health Experts, and Successful Entrepreneurs
JR Rahn – Co-Founder, Director & Co-CEO. Rahn is a former Silicon Valley tech executive who realized that transformational solutions to mental illness and addiction might lie in psychedelic medicines. After 2 years of his own research and investment in psychedelic research, he partnered with drug development veteran Stephen Hurst to start MindMed in 2019. Before starting MindMed, Rahn worked in market expansion and operations at Uber, after which he was backed by the Silicon Valley tech accelerator Y Combinator for his company Upgraded, which partnered with Apple to provide device financing for Apple customers in Europe.
Dr. Miri Halperin Wernli, PhD – (President). Dr. Halperin Wernli is a senior pharmaceutical and biomedical executive with over 30 years of strategic and operational leadership in the biopharmaceutical industry and a deep understanding of clinical psychiatry and of drug and product development in heavy regulated environments. Dr. Halperin Wernli co-founded Creso Pharma, a cannabis company listed on the Australian Stock exchange (ASX). Dr. Halperin Wernli is a skilled clinician in child and adult psychiatry and an experienced Pharmaceutical leader with skills and broad expertise in Drug Development, Regulatory Affairs, Project & Portfolio Management, Development Finance & Controlling, and Corporate Strategy and Governance.
Rob Barrow, PhD – Chief Development Officer. Mr. Barrow is an accomplished pharmaceutical executive and clinical pharmacologist with over a decade of experience leading drug development programs in a variety of disease areas. Mr. Barrow previously served as Director of Drug Development & Discovery at Usona Institute, where he oversaw preclinical, clinical and regulatory development efforts for all of Usona’s development programs. Prior to joining Usona, Mr. Barrow served as Chief Operating Officer of Olatec Therapeutics where he oversaw the execution of numerous early- and late-stage clinical trials in the fields of analgesics, rheumatology, immunology, and cardiovascular disease. In addition, he has been responsible for the design and execution of preclinical research programs for new molecular entity drugs in CNS conditions such as multiple sclerosis, Alzheimer’s Disease, and Parkinson’s Disease. Mr. Barrow holds a Masters degree in Pharmacology from The Ohio State University and a Bachelor of Science degree from Wake Forest University, where he graduated summa cum laude.
Donald Gehlert, PhD – Chief Scientific Officer. Dr. Gehlert has extensive experience in drug discovery and expertise in key functional areas of exploratory development and disease biology. During his career at Lilly, he led or participated in teams that introduced 19 molecules into the Lilly pipeline including both small and large molecule therapies. He also participated on Phase I and II clinical development teams that designed and delivered translational proof of concept studies in the areas of ADHD, obesity, AUD, depression, pain, and migraine. He’s a co-author on 182 publications and a co-inventor on 15 issued and pending patents.
- MindMed is a leading pure-play psychedelics company with multiple programs in Phase 2 Clinical Trials.
- At the forefront of medicine creating a new biotec asset class, which is focused on treating mental health.
- MindMed has the broadest and most diversified pipeline of psychedelics drugs
- Fully-financed with C$183 million in cash to advance scientific pipeline through FDA process.
- Seasoned management team and board with an extensive amount of industry experience attached to a variety of companies and approved drugs, including Lilly, Nektar, BVGH, Strattera, NuGen, Onyx, Roche, Pfizer, Nexavar, Allelix, SGC, Y Combinator, and Uber.
- Support from high-profile investors, and scientific advisory board members, including Canopy Growth founder and former CEO Bruce Linton and Shark Tank host Kevin O’Leary.
- Second largest holding in the ‘Horizons Psychedelic Stock Index ETF’ at 9.80%.
IMPORTANT NOTICE AND DISCLAIMER
This website is owned and hosted by Market Tactic Media Ltd. Articles appearing on this website should be considered paid advertisements. Market Tactic Media Ltd. and its owners, managers, employees, and assigns (collectively “the Publisher”) is often paid by marketing companies to host websites on which articles profiling public companies are published. The Publisher has not been compensated by any of the profiled companies. The Publisher’s compensation for articles appearing on this website is as follows:
- The Publisher has been paid approximately $500 per week while the advertisement campaign was active by Think Ink Media as compensation to host the article profiling Mind Medicine Inc.
The Publisher has not participated in the creation of the content of any articles appearing on this website and so cannot guarantee the accuracy or completeness of the information in any of the articles. The Publisher expressly disclaims any responsibility or liability for statements made in any of the articles.
The Publisher does not own any shares of any profiled company and has no information concerning share ownership by others of any profiled company. The Publisher cautions readers to beware that third parties, profiled companies, and/or their affiliates may liquidate shares of the profiled companies at any time, including at or near the time you read the articles on this website and this has the potential to hurt share prices. Frequently companies profiled in such articles experience a large increase in volume and share price during the course of investor awareness marketing, which often ends as soon as the investor awareness marketing ceases.
NO SECURITIES OFFERED
The articles on this website are not, and should not be construed to be, offers to sell or solicitations of an offer to buy any security. Neither the articles on this website nor the Publisher purport to provide a complete analysis of any company or its financial position. The Publisher is not, and does not purport to be, a broker-dealer or registered investment adviser. The articles on this website are not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the profiled company’s SEC and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk.
INDEMNIFICATION/RELEASE OF LIABILITY
By reading articles on this website, you acknowledge that you have read and understood this disclaimer, and further that to the greatest extent permitted under law, you release the Publisher, its affiliates, assigns and successors from any and all liability, damages, and injury from articles appearing on this website. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.
LINKS TO THIRD PARTY WEBSITES
This website enables users to link to external websites not under the control of The Publisher. The Publisher has no control over the nature, content, and availability of those sites. The inclusion of any links is not intended as, and should not be construed as, a recommendation or endorsement of the content or views expressed on such external websites. The Publisher expressly disclaims any representation concerning the quality, safety, suitability, or reliability of any external websites and the content and materials contained in them. It is important for users to take necessary precautions, especially to ensure appropriate safety.
The Market Tactic is the Publisher’s trademark. All other trademarks used in this communication are the property of their respective trademark holders. The Publisher is not affiliated, connected, or associated with, and is not sponsored, approved, or originated by, the trademark holders unless otherwise stated. No claim is made by the Publisher to any rights in any third-party trademarks.
FORWARD LOOKING INFORMATION
This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Mind Medicine Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Mind Medicine Inc.’s industry; (b) market opportunity; (c) Mind Medicine Inc.’s business plans and strategies; (d) services that Mind Medicine Inc. intends to offer; (e) Mind Medicine Inc.’s milestone projections and targets; (f) Mind Medicine Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Mind Medicine Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Mind Medicine Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Mind Medicine Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Mind Medicine Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Mind Medicine Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Mind Medicine Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Mind Medicine Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Mind Medicine Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Mind Medicine Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Mind Medicine Inc.’s business operations (e) Mind Medicine Inc. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, Mind Medicine Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Mind Medicine Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Mind Medicine Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Mind Medicine Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Mind Medicine Inc. or such entities and are not necessarily indicative of future performance of Mind Medicine Inc. or such entities.