Psychedelic Sector News
MindMed CEO JR Rahn Steps Down
Two weeks ago, we reported on insider selling at MindMed:
Most notably, CEO JR Rahn has sold a significant portion of his shares. According to The Deep Dive, JR Rahn’s recent transactions represent a sale of c.38% of his total position.
Three days later, more insider filings emerged. It appears that Board Director Bruce Linton has disposed of around half of his shares in the company.
On Wednesday, the company announced that Rahn is stepping down as CEO. Interestingly, its stock price didn’t react drastically and closed slightly higher on the day’s news.
Chief development officer Robert Barrow assumes the role on an interim basis, while the company carries out a search for a new CEO. Barrow joined MindMed after serving as director of drug development and discovery at Usona Institute, the nonprofit organisation stewarding psilocybin through a Phase 2 clinical trial for major depressive disorder.
The press release announcing Rahn’s stepping down ended by explaining that, as part of the transition, he would be issued 1.5 million subordinate voting shares, valued at over CAD $6.5m.
Atai’s S-1: A Deep Dive
Three members of the Psilocybin Alpha ecosystem joined Business Trip’s Matias Serebrinsky to discuss atai Life Sciences’ S-1 filing in advance of their IPO.
In this podcast episode, we cover:
- How atai went from idea to IPO in 3 years
- An overview of atai’s drug development programs and enabling technologies
- The platform’s strategy and risks