MindMed's Project Lucy is Delayed and Compass Pathways Has a Patent Being Challenged.
In today's episode, we discuss two companies: MindMed (NASDAQ: MNMD, NEO: MMED); and Compass Pathways (NASDAQ: CMPS).
For MindMed, unfortunately, their flagship program, Project Lucy, has been delayed. Project Lucy is attempting to treat Generalized Anxiety Disorder using LSD therapy. MindMed had been planning on starting a phase 2b clinical trial this year, however, the FDA has now placed a “clinical hold” on the project.
At this time, we do not know the reason behind this, or how serious of an issue this is. The FDA said they would provide more details within 30 days. After that, hopefully, the psychedelic medicine clinical trial can get back up and running.
For Compass Pathways, the company is having one of its patents challenged in court. Compass Pathways earlier patented a formulation of psilocybin which they claim to be unique, called Polymorph A. This is what the company calls Comp 360.
However, a group called the Freedom to Operate (FTO) is claiming that their psilocybin is not unique at all, and should have its patent removed. This dispute will now be overseen by a tribunal. The entire process could take several years, but the outcome will be highly significant for the psychedelic medicines industry.
#MindMed #CompassPathways #Psychedelics
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