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1 Reason to Buy MindMed (MNMD)

TheMotleyFool

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By their nature, clinical-stage biotech companies can be volatile investments. Even by that standard, MindMed (NASDAQ: MNMD) is quite a risky play; after all, a key element of its business strategy is to develop brain health medications based on compounds that are illegal on the federal level in the U.S.

For this reason, even a modest relaxation of current laws could really benefit MindMed. It isn't cheap or easy to operate within the many restrictions imposed due to the legal status of psychedelics (these can be used for medical research purposes, however the limits are strict).

Image source: Getty Images.

Source Fool.com

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