NASDAQ$DFTX
Definium Therapeutics Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
MindMed reported its financial results for 2023 and provided a business update.
MindMed reported positive Phase 2b results for MM120 in treating adult patients with GAD and initiated Phase 1 clinical trial of MM402 in Autism Spectrum Disorder (ASD). The company's cash and cash equivalents totaled $99.7 million as of December 31, 2023, and are expected to fund operations into 2026, if certain milestones are achieved that unlock additional capital.
- Announced statistically significant and clinically meaningful topline Phase 2b data for MM120 at 4 weeks in Generalized Anxiety Disorder (GAD).
- Planned multiple milestones for MM120 in GAD, including 12-week Phase 2b data to be presented at March 7th investor event, and initiation of Phase 3 clinical program in second half of 2024.
- Initiated Phase 1 clinical trial of MM402 in Autism Spectrum Disorder (ASD).
- The Company will host a virtual investor event on March 7, 2024 to provide 12-week data from the Phase 2 program for MM120 being developed for the treatment of GAD.
Headline financials
Revenue & EPS history
MindMed · Revenue · Quarterly
$4.84M
Forward guidance
MindMed anticipates several milestones, including one-year follow-up results from an investigator-initiated clinical trial of lysergide in anxiety disorders and working closely with the FDA to finalize Phase 3 development program for MM120 in GAD, expecting to hold an End-of-Phase 2 meeting with the FDA in the first half of the year to enable the initiation of Phase 3 clinical program in the second half of the year.
Tailwinds
- The Company plans to share topline 12-week safety, efficacy, and durability results from the Phase 2b study and results from its pharmacokinetics bridging trial of the MM120 Zydis® ODT formulation, its intended commercial formulation of MM120, at an upcoming virtual investor event on March 7, 2024.
- The Company anticipates that full results from the Phase 2b trial of MM120 in GAD will be presented at a scientific meeting in 2024.
- The Company plans to hold an End-of-Phase 2 meeting with the FDA in the first half of 2024 and expects to initiate its Phase 3 clinical program in the second half of 2024.
- One-year follow-up data from a Phase 2 placebo-controlled investigator-initiated clinical trial of lysergide in the treatment of anxiety disorders is anticipated in 2024.
- UHB is currently conducting a Phase 1 investigator-initiated trial of R(-)-MDMA, S(+)-MDMA and R/S- MDMA in healthy adult volunteers, with topline results expected in the first half of 2024.
Headwinds
- The Company has a history of negative cash flows.
- The Company has a limited operating history.
- The Company expects to incur future losses.
- The Company faces difficulty associated with research and development.
- The Company faces risks associated with clinical trials or studies.
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 Q4 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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