MindMed Q1 net loss $24.8M, cash $129.4M; key trial readouts on track for late 2023

Definium Therapeutics, Inc.

2023-Q1 EPS reported -$0.65

Net loss of $24.8M in Q1 2023 vs $18.5M in Q1 2022; R&D expenses rose to $12.6M (up $2.4M YoY).
Cash and equivalents $129.4M at Mar 31, 2023; expected to fund operations into H1 2025.
Phase 2b MM-120 for GAD and Phase 2a for ADHD both on track for topline results in late 2023.
Appointed Mark R. Sullivan as Chief Legal Officer in April 2023.
Plan to initiate Phase 1 trial of MM-402 for ASD in 2023; pre-clinical data at ASCP May 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Definium Therapeutics, Inc. updated its the quarter ended March 31, 2023 guidance (reaffirmed).

Period: the quarter ended March 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (NEO: MMED), (the “Company” or "MindMed"), a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today reported its financial results for the quarter ended March 31, 2023.

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Definium Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-017860

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