MindMed Earnings Reports

MindMed reported a Q4 2024 net loss of $34.74 million, widening from $23.86 million in Q4 2023, driven by higher R&D costs as the company advanced its MM120 ODT Phase 3 trials. Operating expenses increased to $32.46 million from $22.21 million in the prior year period. Cash and cash equivalents grew significantly to $273.74 million, extending the company’s cash runway into 2027. MindMed continues its focus on progressing clinical trials for its pipeline of innovative brain health treatments.

MindMed reported its Q3 2024 financial results, highlighting progress in its clinical programs, particularly the upcoming Phase 3 Voyage study of MM120 ODT in GAD. The company's cash and cash equivalents totaled $295.3 million as of September 30, 2024, expected to fund operations into 2027.

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.

MindMed announced positive Phase 2b clinical trial results for MM120 in Generalized Anxiety Disorder (GAD), demonstrating clinically and statistically significant activity through 12 weeks after treatment. The FDA granted Breakthrough Therapy Designation to MM120 for the treatment of GAD in adults. The company's cash and cash equivalents totaled $252.3 million as of March 31, 2024.

MindMed reported positive Phase 2b results for MM120 in treating adult patients with GAD and initiated Phase 1 clinical trial of MM402 in Autism Spectrum Disorder (ASD). The company's cash and cash equivalents totaled $99.7 million as of December 31, 2023, and are expected to fund operations into 2026, if certain milestones are achieved that unlock additional capital.

MindMed reported its Q3 2023 financial results, highlighting the focus on executing key data readouts for MM-120 in GAD and ADHD, and the planned initiation of the MM-402 Phase 1 clinical trial in ASD. The company's cash and cash equivalents totaled $117.7 million as of September 30, 2023, expected to fund operations into 2026.

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.

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.

MindMed reported its full-year 2022 financial results, highlighting key milestones including upcoming data readouts for MM-120 in GAD and ADHD, and the initiation of the first clinical trial of MM-402. The company's cash and cash equivalents totaled $142.1 million as of December 31, 2022, providing a cash runway into the first half of 2025.

MindMed reported its Q3 2022 financial results, highlighting the initiation of patient dosing in the Phase 2b dose-optimization study of MM-120 for GAD and advancements in IND-enabling studies for MM-402. The company's cash and cash equivalents of $154.5 million are expected to fund operations into the first half of 2025.

MindMed reported its Q2 2022 financial results, highlighting the advancement of its development programs, particularly the Phase 2b dose-optimization trial of MM-120 for generalized anxiety disorder. The company also announced positive safety and tolerability results for its MM-110 program. With a sharpened focus and strengthened leadership team, MindMed is prioritizing its resources towards advancing the MM-120 and MM-402 programs.

MindMed reported its Q1 2022 financial results, highlighting progress in advancing clinical programs for lead drug candidates, strengthening the leadership team, and securing a cash runway through key clinical readouts in 2023 and into 2024.

MindMed reported its full year 2021 financial results, highlighting a cash balance of $133.5 million at year-end and advancements in its development programs. The company established a regulatory pathway for MM-120 in the treatment of GAD and for MM-402 launched a program to develop a treatment for autism spectrum disorder.