Mind Medicine (NASDAQ: MNMD) activist shareholders FCM MM Holdings are at it again. The special purpose vehicle set-up to represent certain early investors in MindMed threw down the gauntlet again, accusing company managers of, among other things, mismanaging its Phase II LSD trial for general anxiety disorder. Clearly, the press release was designed to put maximum pressure on MindMed’s Board of Directors to enact executive and operational change.

In a press release issued this morning, FCM indicated that they have ‘analyzed’ the regulatory approval strategies of the 63 Central Nervous System drugs approved by the FDA in the past decade. It found that 66% of CNS drugs did not perform a Phase IIb—and 22% skipped Phase II altogether—and thus concluded that MindMed CEO Robert Barrow was incorrect in his claim that a Phase IIb of MM-120 was required by the FDA.

Furthermore, FCM’s analysis has not found …

Full story available on Benzinga.com

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