Mind Medicine Stock Is Soaring After Its NASDAQ Debut. What's Next?

In a long-awaited move, psychedelic therapy developer Mind Medicine (or MindMed) (NASDAQ: MNMD) was registered on the NASDAQ on Tuesday of last week, causing its stock to explode by more than 50% compared to its level earlier in the month. While the price has settled from its recent heights, investors -- myself included -- are doubtless pleased. What's more, retail traders from Reddit and Robinhood are also showing strong interest in the stock, which could drive it even further.

With the state of the company's current set of projects and its roughly $161 million in cash, investors can look forward to other major catalysts stemming from MindMed's new technology division and its progress in clinical trials over the next year without worrying about dilution from fundraising. So what might those catalysts be, and when might they happen?