An update from Mindbio Therapeutics Corp. ( (TSE:MBIO) ) is now available.
MindBio Therapeutics Corp. has announced a private placement and debt settlement initiative to strengthen its financial position. The company plans to issue up to 15,454,546 common shares to raise $170,000 for working capital and general purposes, while also settling $1,760,368 in debt through issuing shares. This financial maneuver is expected to enhance MindBio’s ability to capitalize on upcoming opportunities in 2025, reinforcing its position in the biopharma industry focused on mental health treatments.
More about Mindbio Therapeutics Corp.
MindBio Therapeutics Corp. is a clinical stage biopharma company focused on developing novel treatments for mental health conditions, particularly through the use of psychedelic medicines. The company is a leader in microdosing research and is advancing its proprietary LSD-based drug, MB22001, through clinical trials. MindBio is involved in both psychedelic medicine development and digital therapeutics, with ongoing Phase 2B trials targeting cancer patients with existential distress and those with Major Depressive Disorder.
YTD Price Performance: -50.0%
Average Trading Volume: 126,874
Technical Sentiment Signal: Strong Buy
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