Mind Medicine (MindMed) Inc
NASDAQ:MNMD
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Mind Medicine (MindMed) Inc
Mind Medicine (MindMed), Inc. operates as a neuro-pharmaceutical company that discovers, develops and deploys psychedelic medicines to improve health, promote wellness and alleviate suffering. The company is headquartered in Vancouver, British Columbia. The company went IPO on 2015-05-04. The firm focuses on discovering, developing and deploying psychedelic-inspired medicines and therapies to address addiction and mental illness. The firm's commercial drug development programs includes lysergic acid diethylamide (LSD) experiential therapy, 18-methoxycoronaridine (18-MC) opioid withdrawal, LSD microdosing, methylenedioxymethamphetamine (MDMA), and dimethyltryptamine (DMT). The firm's subsidiaries include Mind Medicine, Inc., HealthMode, Inc., MindMed Pty Ltd. and MindMed GmbH.
Mind Medicine (MindMed), Inc. operates as a neuro-pharmaceutical company that discovers, develops and deploys psychedelic medicines to improve health, promote wellness and alleviate suffering. The company is headquartered in Vancouver, British Columbia. The company went IPO on 2015-05-04. The firm focuses on discovering, developing and deploying psychedelic-inspired medicines and therapies to address addiction and mental illness. The firm's commercial drug development programs includes lysergic acid diethylamide (LSD) experiential therapy, 18-methoxycoronaridine (18-MC) opioid withdrawal, LSD microdosing, methylenedioxymethamphetamine (MDMA), and dimethyltryptamine (DMT). The firm's subsidiaries include Mind Medicine, Inc., HealthMode, Inc., MindMed Pty Ltd. and MindMed GmbH.
Clinical Progress: MindMed remains on track with enrollment in three pivotal Phase III trials for MM120 ODT, targeting Generalized Anxiety Disorder (GAD) and Major Depressive Disorder (MDD), with top-line data expected in 2026.
Financial Position: The company ended Q2 2025 with $237.9 million in cash, cash equivalents, and investments, and expects this to fund operations into 2027 and at least 12 months beyond the first Phase III readout.
R&D Spending: Research and development expenses rose to $29.8 million in Q2 2025, up from $14.6 million in Q2 2024, driven by the MM120 ODT program and increased headcount.
Commercial Preparation: MindMed is actively working on market access, reimbursement strategies, and site targeting in preparation for potential commercialization.
Durability & Differentiation: Management emphasized the long-lasting and significant efficacy of MM120 ODT, citing strong Phase IIb results and ongoing enthusiasm from providers.
Cash Runway Guidance: Cash resources are expected to support operations well beyond key upcoming clinical milestones, with flexibility provided by an amended debt agreement.
