Clinical-stage biopharma company Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) has reported its unaudited financial results for the quarter ended March 31, 2023, and shared the period’s business highlights.
Numbers show:
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Cash and cash equivalents totaled $129.4 million as of March 31, an amount MindMed believes will allow funding of operations into the first half of 2025.
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Quarterly operating expenses were $13.3 million, as compared to $12.9 million in the same period in 2022.
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Quarterly R&D expenses were $12.6 million, as compared to $10.2 million for the same period in 2022. The increase would primarily owe to expense increases in the MM-120 GAD clinical program.
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The quarter’s G&A expenses were $8.3 million, the same as in 2022.
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Net loss of $24.8 million, compared to $18.5 million for the …