Mind Medicine (NASDAQ: MNMD), a healthcare company that’s looking to develop treatments based on psychedelic compounds, was something of a sleeper stock in May. Several positive developments pushed the highly specialized enterprise’s share price higher, to the point where it closed the month up almost 14% in price.
The main driver of this gain was a small step forward in the decriminalization of psilocybin. That’s the psychoactive compound that Mind Medicine — or MindMed, as it’s known for short — is aiming to develop into substances that can help treat certain psychological disorders.
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