By Chris Wack

Mind Medicine Inc. said the U.S. Food and Drug Administration has cleared its investigational new-drug application, allowing the company's Phase 2b dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder to proceed.

The biopharmaceutical company said the previously announced clinical hold on the IND was lifted following its rapid responses for additional information related to the participant monitoring protocol in the coming study.

Mind Medicine said it is working with study investigators and clinical trial sites to prepare for participant enrollment, which is expected to start in early 2022.

Mind Medicine shares were up 16% to $1.08 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 25, 2022 08:02 ET (13:02 GMT)