earnings
confidence high
sentiment positive
materiality 0.80
MindMed reports Q1 net loss $54.4M; MM120 GAD trial hits key endpoint, FDA Breakthrough Therapy
Definium Therapeutics, Inc.
2024-Q1 EPS reported
-$1.14
- Net loss $54.4M Q1'24 (vs $24.8M); includes $27.7M warrant fair value change. R&D $11.7M, G&A $10.5M.
- Cash $252.3M at Mar 31 (vs $99.7M Dec'23). Expects funding into 2026.
- Phase 2b MM120 GAD: 7.7-pt HAM-A improvement vs placebo (p<0.003), 65% response, 48% remission at Week 12.
- FDA Breakthrough Therapy for MM120 in GAD. Phase 3 initiation planned H2 2024.
- CFO Schond Greenway departed May 3. Executive search for new CFO underway.