NASDAQ$DFTX
Definium Therapeutics Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced financial results for the quarter ended September 30, 2024, and provided a business update.
MindMed reported its Q3 2024 financial results, highlighting progress in its clinical programs, particularly the upcoming Phase 3 Voyage study of MM120 ODT in GAD. The company's cash and cash equivalents totaled $295.3 million as of September 30, 2024, expected to fund operations into 2027.
- On track to initiate Phase 3 Voyage study of MM120 ODT in GAD in Q4 2024, with 12-week topline data anticipated in the first half of 2026.
- On track to initiate Phase 3 Panorama study of MM120 ODT in GAD and Phase 3 Emerge study of MM120 ODT in MDD in the first half of 2025.
- Cash and cash equivalents of $295.3 million as of September 30, 2024, expected to fund operations into 2027.
- Completed Phase 1 study of MM402 for Autism Spectrum Disorder in October 2024.
Headline financials
Revenue & EPS history
MindMed · Revenue · Quarterly
$0
Forward guidance
MindMed is focused on advancing its clinical programs, with key milestones including the initiation of Phase 3 studies for MM120 in GAD and MDD. The company expects its current cash reserves to be sufficient to fund operations into 2027, extending beyond the first Phase 3 topline data readout for MM120 ODT in GAD.
Tailwinds
- Initiate Phase 3 Voyage study of MM120 ODT in GAD in Q4 2024.
- Initiate Phase 3 Panorama study of MM120 ODT in GAD in the first half of 2025.
- Initiate Phase 3 Emerge study of MM120 ODT in MDD in the first half of 2025.
- Cash runway extends at least 12 months beyond first Phase 3 topline data readout for MM120 ODT in GAD.
- Expects to conduct a second Phase 3 registrational study in MDD.
Headwinds
- History of negative cash flows.
- Limited operating history.
- Incurrence of future losses.
- Difficulty associated with research and development.
- 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 2024
+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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