NASDAQ$DFTX
Definium Therapeutics Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
MindMed's financial results for Q3 2023 were reported, along with business highlights, including progress on MM-120 and MM-402 clinical trials.
MindMed reported its Q3 2023 financial results, highlighting the focus on executing key data readouts for MM-120 in GAD and ADHD, and the planned initiation of the MM-402 Phase 1 clinical trial in ASD. The company's cash and cash equivalents totaled $117.7 million as of September 30, 2023, expected to fund operations into 2026.
- Topline readout of MM-120 in GAD (Phase 2b) is expected in Q4 2023.
- Topline readout of MM-120 in ADHD (Phase 2a proof-of-concept) is anticipated by the end of Q1 2024.
- MM-402 in ASD is on track for Phase 1 clinical trial initiation in Q4 2023.
- Cash and cash equivalents totaled $117.7 million at September 30, 2023.
Headline financials
Revenue & EPS history
MindMed · Revenue · Quarterly
-$51K
Forward guidance
MindMed anticipates several key milestones in the coming months, including topline results from the Phase 2b study of MM-120 in GAD expected by the end of the year, initiation of the Phase 1 study of MM-402 by the end of the year, and reporting topline data from the proof-of-concept study of MM-120 in ADHD by the end of Q1 2024.
Tailwinds
- Topline results from Phase 2b study of MM-120 in GAD expected in Q4 2023.
- Topline results from Phase 2a proof-of-concept study of MM-120 in ADHD anticipated by the end of Q1 2024.
- Phase 1 clinical trial of MM-402 in ASD on track for initiation in Q4 2023.
- University Hospital Basel enrolling participants in Phase 1 trial of R(-)-MDMA, S(+)-MDMA and R/S-MDMA in healthy adult volunteers with topline results expected in the first half of 2024.
- Cash and cash equivalents are expected to fund operations into 2026.
Headwinds
- MindMed has a history of negative cash flows.
- The company has a limited operating history.
- MindMed anticipates incurring future losses.
- The company's products are in early stage development.
- The psychedelic inspired medicines industry is novel.
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 2023
+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% |
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