Mind Medicine Inc. (NASDAQ: MNMD | NEO: MMED), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, today announced that it has received a letter from The Nasdaq Stock Market LLC advising the Company that it has regained compliance with Nasdaq’s minimum bid price listing requirement. The Company has satisfied the terms for continued listing on the Nasdaq Capital Market by complying with the minimum bid price requirement of $1.00 per share under Nasdaq Listing Rule 5550(a)(2), and all other criteria for continued listing. Accordingly, Nasdaq has advised that the matter is now closed.
The Company believes the completion of the reverse share split and subsequent attainment of compliance with Nasdaq listing requirements enables the Company to potentially achieve several important corporate objectives, including but not limited to, the ability to meet certain security eligibility criteria for consideration for inclusion into market-wide and healthcare sector indices, potentially augment MindMed’s visibility within the investment community, increase the liquidity of its common shares and broaden its shareholder base.
About MindMed
MindMed is a clinical stage biopharmaceutical company developing novel products to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine, and acetylcholine systems.