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Offers Telemedicine and Diagnostics Services
Mental health is a hot issue, particularly in light of the country's declared opioid epidemic, and Mission Viejo-based MYnd Analytics Inc. (Nasdaq: MYND) appears to be on the right track with its diagnostics platform and telemedicine.
It recently raised $2.1 million through a private placement of 1,050,000 units at $2 per unit-each unit consists of one share of newly designated series A preferred stock and one warrant to purchase one share of common stock for $2.34 per share to three affiliates.
Shares of the company trade at about $1.27 each for a $5.6 million market cap.
MYnd said it plans to use proceeds to support general corporate purposes.
The predictive analytics company develops Psychiatric EEG Evaluation Registry, or PEER Online, which allow medical professionals to exchange patient treatment outcome data. Information is based on a standard electroencephalogram, a test of brain activity. The tool is designed to help doctors better match patients with appropriate medications.
In November MYnd bought Arcadian Telepsychiatry Services LLC, which manages telepsychiatry and telebehavioral services through a nationwide network of licensed and credentialed psychiatrists, psychologists and master's-level...