MindMed Q2 net loss widens to $42.7 mln, R&D costs rise
Overview
MindMed reports Q2 net loss of $42.7 mln, up from $5.9 mln last year
R&D expenses rise to $29.8 mln in Q2, driven by MM120 ODT program
Company appoints Brandi L. Roberts as CFO to strengthen leadership team
Outlook
Company's cash expected to fund operations into 2027
Result Drivers
R&D EXPENSES - Increased R&D expenses driven by MM120 ODT program advancements
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| -$0.5 |
|
Q2 Net Income |
| -$42.74 mln |
|
Q2 Basic EPS |
| -$0.5 |
|
Q2 Income from Operations |
| -$40.90 mln |
|
Q2 Operating Expenses |
| $40.90 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Mind Medicine (MindMed) Inc is $20.00, about 54.9% above its July 30 closing price of $9.03
Press Release: ID:nBw2zY4bva
