Psyched: MindMed And Compass Q1 Earnings, FDA Approves Therapists Taking MDMA, Wesana Health Goes Public
Compass Pathways (NASDAQ:CMPS) and
MindMed (NASDAQ:MNMD) remain the only two companies in psychedelics to reach a major U.S. stock exchange. Both companies presented net losses associated with R&D expenses, as entities in the space race towards gaining ground in a sector that still hasn’t reached early maturity or profitability.
Both companies presented strong cash positions to advance their research pipelines.
Compass, Pressing On Psilocybin: Compass highlighted the issuing of two new patents and a post-quarter equity financing round of $144 million.
Dive Brief:
FDA on Friday authorized Neurolutions device to help stroke patients regain movement in the arm, wrist and hand through use of a brain-computer interface to re-educate the muscles.
The noninvasive IpsiHand system translates neural activity on the ipsilateral, or uninjured, side of the brain into data that directs arm and hand function on the patient s impaired side. Brain waves are recorded via EEG electrodes placed on the patient s head and analyzed on a tablet, then a signal is sent to a wireless robotic brace that moves the person s hand.
FDA granted De Novo classification to the breakthrough-designated device based on data from Neurolutions unblinded study of 40 patients, all of whom showed improved motor function over 12 weeks.
Fact-Checked
The FDA made several moves in April, from lifting the pause on the J&J vaccine to recalls on certain pills and vitamins.
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COVID-Related News
The CDC and FDA have lifted the pause of the Johnson & Johnson vaccine following a complete review of rare blood clots. Following a thorough safety review including two meetings of the Centers for Disease Control and Prevention s (CDC) Advisory Committee on Immunization Practices the U.S. Food and Drug Administration (FDA) and the CDC issued a statement on April 23 saying that the recommended pause regarding the use of the Johnson & Johnson (Janssen) COVID-19 Vaccine in the United States should be lifted. Most States have resumed use of the vaccine.