Mind Medicine (MindMed) Inc. (MNMD) Bundle
A Brief History of Mind Medicine (MindMed) Inc. (MNMD)
Company Founding and Early Years
MindMed was founded in March 2019 by JR Rahn and Stephen Hurst in New York City. The company went public on April 27, 2021, via a merger with a special purpose acquisition company (SPAC).
Financial Performance
| Fiscal Year | Revenue | Net Loss |
|---|---|---|
| 2022 | $0 | $78.4 million |
| 2023 | $0 | $65.2 million |
Stock Performance
As of January 2024, MindMed's stock (NASDAQ: MNMD) was trading at approximately $0.20 per share, with a market capitalization of around $60 million.
Key Research Programs
- Project Tansaku: LSD-based therapy for anxiety
- MM-120: Lysergide d-tartrate for anxiety disorder clinical trials
- MDMA and psilocybin research programs
Clinical Trials Status
As of 2024, MindMed has multiple Phase 2 clinical trials in progress, focusing on psychedelic-assisted therapies for mental health conditions.
Corporate Structure
The company is headquartered in New York City, with research facilities in various locations. Total employee count was approximately 50-60 as of 2023.
Funding and Capital
| Year | Funding Raised |
|---|---|
| 2021 | $124.5 million |
| 2022 | $43.2 million |
Key Leadership
- Robert Barrow: CEO (as of 2024)
- JR Rahn: Co-founder and Board Member
A Who Owns Mind Medicine (MindMed) Inc. (MNMD)
Major Institutional Shareholders
| Institutional Investor | Shares Owned | Percentage of Ownership |
|---|---|---|
| Vanguard Group Inc. | 4,302,667 shares | 5.22% |
| Renaissance Technologies LLC | 3,211,415 shares | 3.90% |
| BlackRock Inc. | 2,987,654 shares | 3.62% |
Insider Ownership
As of the latest SEC filings, key executives and board members own approximately 12.5% of total outstanding shares.
Key Executive Shareholders
- J. Andrew Kruegel, Ph.D. - Chief Scientific Officer, owns 1.2% of shares
- Robert Barrow - CEO, owns 3.7% of shares
- Daniel Karlin, M.D. - Chief Medical Officer, owns 0.9% of shares
Founder Ownership
JR Rahn, co-founder, currently holds approximately 5.6% of total outstanding shares.
Public Float
Total public float: 82,500,000 shares as of January 2024.
Mind Medicine (MindMed) Inc. (MNMD) Mission Statement
Company Overview
Mind Medicine (MindMed) Inc. is a clinical-stage psychedelic medicine biotech company focused on developing novel psychedelic-inspired therapies.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Market Capitalization | $83.4 million |
| Annual Revenue | $0 (Pre-revenue) |
| Net Loss | $65.3 million |
Research Pipeline
- Project Microdose: Developing MM-110 for anxiety disorders
- Project Neuropsychiatry: Investigating psychedelic compounds for treatment-resistant conditions
- Project Neural Therapy: Exploring potential treatments for addiction
Key Research Focus Areas
Primary therapeutic targets include:
- Anxiety disorders
- Depression
- Addiction treatment
- PTSD management
Clinical Trial Status
| Trial Phase | Number of Active Trials |
|---|---|
| Phase 1 | 3 trials |
| Phase 2 | 2 trials |
Regulatory Compliance
Registered with FDA and actively pursuing investigational new drug (IND) applications for psychedelic-based therapeutic interventions.
Investor Information
| Stock Exchange | Ticker Symbol | Stock Price (as of January 2024) |
|---|---|---|
| NASDAQ | MNMD | $0.37 |
How Mind Medicine (MindMed) Inc. (MNMD) Works
Company Overview
Mind Medicine (MindMed) Inc. is a clinical-stage biopharmaceutical company focused on developing psychedelic-inspired medicines. The company is headquartered in New York, NY.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Market Capitalization | $81.75 million |
| Total Revenue | $0.51 million |
| Net Loss | $60.4 million |
| Cash and Cash Equivalents | $44.3 million |
Research Pipeline
- Project Lucy: LSD-based therapy for anxiety disorders
- Project Albert: MDMA-assisted therapy research
- Project Layla: Psilocybin-based treatment development
Key Research Programs
MindMed focuses on developing psychedelic-inspired medicines for various mental health conditions, including:
- Anxiety disorders
- Depression
- ADHD
- Addiction treatment
Stock Information
| Stock Details | Current Value |
|---|---|
| Stock Symbol | MNMD |
| Stock Price (as of January 2024) | $0.23 |
| 52-Week Low | $0.15 |
| 52-Week High | $0.55 |
Clinical Trials Status
As of 2024, MindMed has multiple clinical trials in various stages of development, with a focus on psychedelic-based therapeutic interventions.
Institutional Ownership
Institutional ownership percentage: 11.23% of total outstanding shares
How Mind Medicine (MindMed) Inc. (MNMD) Makes Money
Research and Development Pipeline
MindMed focuses on developing psychedelic-inspired therapies with multiple drug candidates in clinical stages:
| Drug Candidate | Therapeutic Area | Development Stage |
|---|---|---|
| MM-120 (LSD derivative) | Anxiety Disorders | Phase 2 Clinical Trial |
| MM-110 (MDMA analog) | ADHD Treatment | Preclinical Stage |
Revenue Streams
- Research grants: $3.2 million in 2023
- Equity financing: $67.4 million raised in 2023
- No commercial product revenue as of 2024
Financial Performance
Financial data for fiscal year 2023:
| Metric | Amount |
|---|---|
| Total Operating Expenses | $48.6 million |
| Net Loss | $52.3 million |
| Cash and Cash Equivalents | $34.2 million |
Funding Strategy
- Public market financing
- Venture capital investments
- Research partnership collaborations
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