MindMed

Aug 03, 2023

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Jun 30, 2023

MindMed Q2 2023 Earnings Report

Reported financial results for the quarter ended June 30, 2023.

Key Takeaways

MindMed reported its Q2 2023 financial results, highlighting the progress of MM-120 in GAD and ADHD trials, the MM-402 in ASD trial, and entering into an exclusive license agreement with Catalent for MM-120 Zydis® orally disintegrating tablet (ODT) formulation. The company's cash and cash equivalents totaled $116.9 million as of June 30, 2023, with the expectation to fund its operating plan into the first half of 2025.

Topline readout of MM-120 in GAD (Phase 2b) expected in Q4 2023 with enrollment to be concluded in Q3 2023.

Topline readout of MM-120 in ADHD (Phase 2a proof-of-concept) anticipated in Q4 2023 / Q1 2024.

MM-402 in ASD on track for Phase 1 clinical trial initiation in Q4 2023.

Entered into exclusive license agreement with Catalent for MM-120 Zydis® orally disintegrating tablet (ODT) formulation for advancement into pivotal clinical trials.