Overview

* MindMed reports Q2 net loss of $42.7 mln, up from $5.9 mln last year

* R&D expenses rise to $29.8 mln in Q2, driven by MM120 ODT program

* Company appoints Brandi L. Roberts as CFO to strengthen leadership team

Outlook

* Company's cash expected to fund operations into 2027

Result Drivers

* R&D EXPENSES - Increased R&D expenses driven by MM120 ODT program advancements

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.5

Q2 Net -$42.74

Income mln

Q2 Basic -$0.5

EPS

Q2 -$40.90

Income mln

from

Operatio

ns

Q2 $40.90

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* Wall Street's median 12-month price target for Mind Medicine (MindMed) Inc ( MNMD ) is $20.00, about 54.9% above its July 30 closing price of $9.03

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)