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MindMed Q3 2023: Financials, Business Funded By 2026 If LSD Pipeline Milestones Achieved

Clinical-stage psychedelics biotech Mind Medicine (MindMed) (NASDAQ: MNMD) has shared its financial outcomes for the third quarter ended September 30,…

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Clinical-stage psychedelics biotech Mind Medicine (MindMed) (NASDAQ: MNMD) has shared its financial outcomes for the third quarter ended September 30, 2023. In numbers:
  • Cash and cash equivalents of $117.7 million by Sept. 30, a 17.2% decrease from the $142.1 million held by Dec. 31, 2022 and a quarterly mild 0.6% increase ($116.9 million held by June 30, 2023.)
  • Nine-month net cash for operating activities totaled $43.8 million, a 17.4% increase as of the $37.3 million used in the same period in 2022.
  • Quarterly R&D expenses of $13.2 million, a 69.2% increase as of the $7.8 million of the same quarter in 2022.
  • Quarterly general and administrative (G&A) expenses of $8.4 million, an 8.7% decrease as of the $9.2 million of the same quarter in 2022.
  • Quarterly net loss of $17.9 million, an almost 8.5% increase considering the $16.5 million net loss during the same period in 2022.
The $5.4 million R&D expenses YoY increase actually follows a 2023 ... Full story available on Benzinga.com

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