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Jun 30, 2024
MindMed Q2 2024 Earnings Report
Announced financial results for the second quarter of 2024 and provided a business update.
Key Takeaways
MindMed reported its Q2 2024 financial results, highlighting the upcoming Phase 3 clinical program for MM120 ODT in GAD and the expansion of its pipeline with a registrational study for MM120 ODT in MDD. The company's cash balance as of June 30, 2024, was $243.1 million, with a recent offering of $75 million in gross proceeds extending the cash runway into 2027.
Completed End-of-Phase 2 (EOP2) meeting with the FDA, remaining on track to initiate Phase 3 clinical program for MM120 ODT in GAD in the second half of 2024.
Expanded pipeline with MM120 ODT clinical program in Major Depressive Disorder (MDD) with plans to initiate a registrational study in first half of 2025.
A new patent was issued by the USPTO, extending intellectual property protection for MM120 ODT through 2041.
Cash and cash equivalents totaled $243.1 million as of June 30, 2024.
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