That’s where the biotech company Mind Medicine steps in to give the solution. The company has several programs being developed, all of which seek to use the latest research and biotechnology to create psychiatric medicines that we have never seen before.
Will the stock make its investors millionaires, or is it yet another biotech that is having a moment right before it flares out?
Mind Medicine is creating several psychedelic products that go for expanding markets. Drugs that work on anxiety, depression, addiction, and ADHD account for around $30 billion in global spending every year.
If they succeed in their efforts with a psychedelic therapy, and that siphons off just a small portion of that amount annually, it will make their current investors rich.
But because Mind Medicine has even more than one drug in the works, it has the ability to strike gold multiple times.
As of now, three of its therapies are in phase 2a of trials. Also, inside its target markets, the usual medications are habit-forming or have substantial side effects that can get worse over time. In comparison, Mind Medicine’s psychedelic therapy uses a growing amount of research that shows treatment using the drug can cause long-lasting relief with just one dose. And it is looking as though that relief does not seem to have the same risks of addiction or bad side effects.
That means Mind Medicine will benefit from an amazing competitive advantage against the current players if its research makes it through the trial process.
Finally, in certain cases, the market for existing therapies is pretty small compared to the total size of eligible patients. Just 36% of anxiety sufferers are estimated to look for treatment. So, there is plenty of room for the company’s innovative products to attract new demand on top of what is already there.
Author: Scott Dowdy