MindMed reports FY2023 net loss $95.7M; Phase2b MM120 shows 7.6-point HAM-A reduction for GAD

Definium Therapeutics, Inc.

2023-FY EPS reported -$2.44

Cash and equivalents $99.7M vs $142.1M at Dec 2022; expected to fund operations into 2026.
Net loss $95.7M vs $56.8M in 2022; R&D expenses $52.1M (up $15.9M) driven by MM120 Phase 2b trial.
Phase 2b MM120 (100 µg) achieved 7.6-point HAM-A reduction vs placebo (p<0.0004, effect size 0.88); 78% response rate.
Plans End-of-Phase 2 FDA meeting H1 2024, Phase 3 MM120 GAD program start H2 2024; March 7 investor event for 12-week data.
Initiated Phase 1 trial of MM402 (R(-)-MDMA) for ASD in Q4 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 0.85

Definium Therapeutics, Inc. reported financial results for year ended December 31, 2023.

Period: year ended December 31, 2023
Result: reported results

Exact text from the filing

MindMed Reports 2023 Financial Results and Business Updates --Announced statistically significant and clinically meaningful topline Phase 2b data for MM120 at 4 weeks in Generalized Anxiety Disorder (GAD)-- --Multiple planned milestones for MM120 in GAD, including 12-week Phase 2b data to be presented at March 7th investor event, and initiation of Phase 3 clinical program in second half of 2024-- --Initiated Phase 1 clinical trial of MM402 in Autism Spectrum Disorder (ASD)-- --Conference call to discuss year-end financial results at 8:00 a.m. EST--

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Source: SEC EDGAR

accession 0000950170-24-021650

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