NEW
YORK, Sept. 14, 2022 /PRNewswire/ -- Mind
Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (the "Company"
or "MindMed"), 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.
MindMed trades on NASDAQ under the symbol MNMD and on the
Canadian NEO Exchange under the
symbol MMED.
Forward-Looking
Statements
Certain statements in this news release related to the Company
constitute "forward-looking information" within the meaning of
applicable securities laws and are prospective in nature.
Forward-looking information is not based on historical facts, but
rather on current expectations and projections about future events
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as "will", "may", "should", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe",
"potential" or "continue", or the negative thereof or similar
variations. Forward-looking information in this news release
include, but are not limited to, statements regarding the Company's
ability to continue to meet the listing standards on NASDAQ, to
achieve anticipated upcoming milestones and corporate
objectives, meet securities eligibility criteria for inclusion in
market-wide and healthcare sector indices, increase liquidity for
its common shares and broaden its shareholder base.. There are
numerous risks and uncertainties that could cause actual results
and the Company's plans and objectives to differ materially from
those expressed in the forward-looking information, including
history of negative cash flows; limited operating history;
incurrence of future losses; availability of additional capital;
lack of product revenue; compliance with laws and regulations;
difficulty associated with research and development; risks
associated with clinical trials or studies; heightened regulatory
scrutiny; early stage product development; clinical trial risks;
regulatory approval processes; novelty of the psychedelic inspired
medicines industry; as well as those risk factors discussed or
referred to herein and the risks described in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2021 and its Quarterly Reports on
Form 10-Q for the period ended June 30,
2022 under headings such as "Special Note Regarding
Forward-Looking Statements," and "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" and other filings and furnishings made by the Company
with the securities regulatory authorities in all provinces and
territories of Canada which are
available under the Company's profile on SEDAR at www.sedar.com and
with the U.S. Securities and Exchange Commission on EDGAR at
www.sec.gov. Except as required by law, the Company undertakes no
duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future
events, changes in expectations or otherwise.
For Media: media@mindmed.co
For Investors: ir@mindmed.co
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mindmed-announces-compliance-with-nasdaq-listing-requirements-301624013.html
SOURCE Mind Medicine (MindMed) Inc.