NASDAQ$DFTX
Definium Therapeutics Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended September 30, 2022, and provided a business update.
MindMed reported its Q3 2022 financial results, highlighting the initiation of patient dosing in the Phase 2b dose-optimization study of MM-120 for GAD and advancements in IND-enabling studies for MM-402. The company's cash and cash equivalents of $154.5 million are expected to fund operations into the first half of 2025.
- Initiated patient dosing in Phase 2b dose-optimization study of MM-120 for the treatment of Generalized Anxiety Disorder (GAD), with key clinical readout expected in late 2023.
- Advanced IND-enabling studies for MM-402 and initiated a Phase 1 investigator-initiated trial in Q3 2022.
- Enhanced financial resources with approximately $60.0 million in gross proceeds from an at-the-market selling program and a public offering.
- Cash and cash equivalents totaled $154.5 million, expected to fund the current operating plan into the first half of 2025.
Headline financials
Revenue & EPS history
MindMed · Revenue · Quarterly
$0
Forward guidance
MindMed expects topline results from the Phase 2b dose-optimization study of MM-120 for GAD and the Phase 2a proof-of-concept trial for ADHD in the second half of 2023. Initiation of a Phase 1 clinical trial of MM-402 is planned in 2023.
Tailwinds
- Topline results from MM-120 Phase 2b trial for GAD expected in the second half of 2023.
- Topline results from MM-120 Phase 2a trial for ADHD expected in the second half of 2023.
- Planned initiation of a Phase 1 clinical trial of MM-402 in 2023.
- Ongoing collaboration with the University Hospital Basel in Switzerland for a Phase 1 trial of R(-)-MDMA, S(+)-MDMA and R/S-MDMA.
- Prioritizing and focusing development efforts on MM-120 in psychiatric indications.
Headwinds
- History of negative cash flows.
- Limited operating history.
- Incurrence of future losses.
- Dependence on availability of additional capital.
- Early stage product development.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.8%
Avg return
Earnings day
+2.9%
Avg return
5 days after
+3.0%
Avg return
30 days after
44%
14 / 32 earnings
Positive
+25.8%
Q3 2024
Best reaction
-25.0%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +0.9% | +2.7% | +3.4% | |
| Q3 2025 | +3.2% | +7.1% | +8.9% | |
| Q2 2025 | -7.3% | +8.8% | -2.3% | |
| Q1 2025 | +4.4% | +6.5% | +26.2% | |
| Q4 2024 | +3.6% | -0.7% | -14.9% | |
| Q3 2024 | +25.8% | +21.3% | +10.2% | |
| Q1 2024 | -4.5% | -11.5% | -24.1% | |
| Q4 2023 | +2.9% | +12.2% | +69.1% | |
| Q3 2023 | +24.1% | +13.3% | +41.4% | |
| Q2 2023 | -5.2% | -5.4% | -10.5% | |
| Q1 2023 | -7.6% | -10.8% | -6.4% | |
| Q4 2022 | -9.9% | -8.1% | -12.3% | |
| Q3 2022 | +19.9% | +18.7% | +9.5% | |
| Q2 2022 | +11.3% | +4.3% | -15.0% | |
| Q1 2022 | -0.8% | -1.2% | -2.3% | |
| Q4 2021 | +0.0% | -9.3% | -30.9% | |
| Q4 2020 | -7.0% | -7.7% | -5.8% | |
| Q3 2020 | +8.2% | +13.3% | +28.8% | |
| Q2 2020 | +14.9% | +5.7% | -9.2% | |
| Q1 2020 | +4.5% | -5.2% | +2.0% | |
| Q3 2019 | -13.7% | -13.7% | +29.4% | |
| Q2 2019 | +0.0% | +33.3% | +11.1% | |
| Q1 2019 | -25.0% | +38.3% | -1.7% | |
| Q4 2018 | -1.9% | -3.7% | +11.1% | |
| Q3 2018 | -4.2% | +4.2% | -12.5% | |
| Q2 2018 | -0.9% | -6.0% | -39.6% | |
| Q1 2018 | -8.4% | -9.8% | -15.8% | |
| Q4 2017 | -4.4% | +0.0% | +2.4% | |
| Q3 2017 | +1.6% | +9.6% | -2.7% | |
| Q2 2017 | -1.9% | -7.5% | -0.4% | |
| Q1 2016 | +1.5% | -6.4% | -10.1% | |
| Q4 2016 | +0.0% | +0.0% | +58.2% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro