In a new chapter of the management quarrel between MindMed (NASDAQ: MNMD) executives and shareholder group FCM Holdings, the company has published an independent report by former senior FDA officials on its clinical and regulatory plan for proprietary LSD compound and lead drug candidate, MM-120.

Authored by third-party firm Greenleaf Health Inc. led by former federal officials, the document says the ongoing Phase 2b trial is both “well-designed” and “essential” to the development program of MM-120 for GAD and states that FCM’s proposal on skipping the Phase 2 stage is “unrealistic” and would risk investments.

In order to apply for FDA approval, the MM-120 program “will need at …

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