Clinical-stage biopharma company Mind Medicine (MindMed), Inc. (NASDAQ: MNMD) shared its financial results for the full year ended Dec. 31, 2022.
Numbers show solid stability:
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Yearly operating activities expenses of $50.1 million, R&D expenses of $36.2 million and general and administrative expenses of $30.2 million -an almost 50% decrease compared to prior year’s.
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Remaining total cash of $142.1 million by Dec. 31, 2022, which MindMed believes will provide cash runway into the first half of 2025.
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Yearly net loss of $56.8 million, an almost 40% decrease as compared to 2021’s.
CEO and director Robert Barrow said that 2022’s progress sets the stage for what the company hopes will be a “transformational” 2023.
“Importantly, we believe our financial position provides us with the ability to fund our programs well beyond these key milestones and into the first half of 2025,” stated Barrow. “I am incredibly proud of our team’s achievements, and …