Psychedelics biotech Mydecine Innovations Group (OTC: MYCOF) shared its condensed interim (unaudited) financial results for three months ended March 31, 2023.
First quarter numbers:
-
Cash and cash equivalents of $7.650 (CA$10,291) as of March 31, 2023, compared to $8.199 garnered by Dec. 31, 2022.
-
Financial position comprised $1.6 million in total assets including $1.3 million of current assets, compared to total assets of $3.9 million including $2.4 million of current assets on Q1 2022.
-
R&D expenses of $106.554 as compared to $780.216 in the same period in 2022; and total expenses of $2.9 million compared to $3.5 million for 2022’s same period.
-
Cash used in operating activities of $2.2 million compared to $1.2 million in the same period the prior year.
-
Net loss of $5.68 million or a basic and diluted loss per …