There have been a number of pharmaceutical stocks which have managed to clock significant gains over the past days and one of those is the Mindset Pharma Inc (OTCMKTS:MSSTF) stock. The medicine discovery and development firm has been in focus among investors over the past week and has managed to clock gains of as much as 12% during that period.
Market Action
On Tuesday, MSSTF stock moved up 0.31% to $0.5918 with 32k shares, compared to its average volume of 57k shares. The stock has moved within a range of $0.5500 – 0.6075 after opening trade at $0.60.
Mindset Pharma Announces Filing of International Patent Application Covering its Family 3 “Microdose” Compounds
Yesterday, the company was back in focus among investors after it announced that it had submitted an international patent application for Family 3 novel psychedelic compounds. It was a major announcement from the company and one that is almost certainly going to be noticed by investors.
The company noted that its product is considerably differentiated from other families of compounds and went on to add that it also displayed pro-cognitive benefits without the problem of hallucinations in patients. Hence, it is clear to see why the company is looking for an international patent for its family of compounds. Considering the fact that the psychedelic medicine industry is still at a nascent stage, the building up of a portfolio of patents could be an important thing for companies. It may be a good idea to add Mindset Pharma to your watch lists at this point.
Traders Note
MSSTF stock is trading above the 20-Day and 50-Day Moving averages of $0.53 and $0.57. Moreover, the stock is trading is the neutral zone with RSI stands at 60.
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