Mind Medicine MindMed | 8-K: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.78, missing the estimate of USD -0.5.

EBIT: As of FY2025 Q3, the actual value is USD -46.66 M.

Cash and Cash Equivalents

• As of September 30, 2025, MindMed had cash, cash equivalents, and investments totaling $209.1 million, compared to $273.7 million as of December 31, 2024.

Research and Development (R&D) Expenses

• R&D expenses were $31.0 million for the quarter ended September 30, 2025, compared to $17.2 million for the quarter ended September 30, 2024, an increase of $13.8 million.

General and Administrative (G&A) Expenses

• G&A expenses were $14.7 million for the quarter ended September 30, 2025, compared to $7.6 million for the quarter ended September 30, 2024, an increase of $7.1 million.

Net Loss

• Net loss for the quarter ended September 30, 2025 was - $67.3 million, compared to - $13.7 million for the quarter ended September 30, 2024.

Credit Facility

• MindMed has a credit facility of up to $120 million, with $41 million outstanding as of September 30, 2025.

Shares Outstanding

• As of October 31, 2025, MindMed had 98.5 million shares outstanding, excluding 8 million pre-funded warrants.

Operating Expenses

• For the third quarter of 2025, MindMed reported operating expenses of $45.7 million, with $31.0 million allocated to research and development (R&D) and $14.7 million to general and administrative (G&A) expenses.

Outlook / Guidance

• MindMed anticipates topline data readouts for ongoing Phase 3 studies of MM120 ODT in GAD in 2026, with the Voyage study expected in the first half and the Panorama study in the second half. The Emerge study for MM120 ODT in MDD is accelerated to mid-2026, aligning with the initiation of the Ascend study. The company expects its cash, cash equivalents, and investments, along with net proceeds from a recent offering, to fund operations into 2028.