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Mar 31, 2023
MindMed Q1 2023 Earnings Report
MindMed's financial results for Q1 2023 were reported.
Key Takeaways
MindMed reported a net loss of $24.8 million for the quarter ended March 31, 2023, with cash and cash equivalents totaling $129.4 million. The company is advancing its R&D pipeline, with key MM-120 readouts expected by the end of 2023 and plans to initiate the first clinical trial of MM-402 later in the year.
Key MM-120 readouts in GAD (Phase 2b) and ADHD (Phase 2a) are expected by the end of 2023.
MM-402 pre-clinical data in ASD model will be presented at ASCP 2023 Annual Meeting.
Mark R. Sullivan was appointed as Chief Legal Officer.
Cash and cash equivalents were reported at $129.4 million as of March 31, 2023.
Forward Guidance
MindMed expects its cash runway to fund its current operating plan into the first half of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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