Why Mind Medicine (MindMed) Stock Plunges After Hours

Mind Medicine Inc MNMD shares are trading lower in Tuesday's after-hours trading after the company announced a proposed public offering of common shares.

MindMed has announced its intention to offer and sell Common Shares together with warrants to purchase Common Shares in a subscribed public offering. All securities to be sold under the offer will be offered by MindMed. Terms of the offer were not disclosed.

MindMed is a clinical-stage biopharmaceutical company developing novel products to treat brain health disorders.

See also: After Hours Alert: Why iBio Stock Is Plunging

MNMD Price Action: MindMed hits fresh 52-week lows in Tuesday's after-hours session.

The stock was down 29.7% in PM to $4.30 at press time, according to Benzinga Pro.

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