Mind Medicine MindMed Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
DFTX$34.64-2.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(73,938) | $(71,868) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 13,468 | 11,818 |
| Amortization of intangible assets | 527 | 2,372 |
| Change in fair value of 2022 USD Financing Warrants | 11,088 | 3,671 |
| Gain on extinguishment of contribution payable | (2,541) | — |
| Unrealized foreign exchange | 509 | — |
| Other non-cash adjustments | 228 | 128 |
| Changes in operating assets and liabilities: | ||
| Prepaid and other current assets | (532) | 1,575 |
| Other noncurrent assets | 115 | 60 |
| Accounts payable | (1,987) | 5,535 |
| Accrued expenses | (683) | 3,742 |
| Other liabilities, long-term | (32) | (835) |
| Net cash used in operating activities | (53,778) | (43,802) |
| Cash flows from financing activities | ||
| Proceeds from the August Offering | 74,999 | — |
| Payment of issuance costs from the August Offering | (5,030) | — |
| Proceeds from the March Offering and Private Placement | 175,000 | — |
| Payment of issuance costs from the March Offering and Private Placement | (11,060) | — |
| Proceeds from credit facility | 10,000 | 15,000 |
| Payment of credit facility issuance costs | (128) | (802) |
| Proceeds from the 2022 ATM net of issuance costs | 984 | 4,943 |
| Payment of deferred financing fees related to 2024 ATM | (424) | — |
| Proceeds from exercise of 2022 USD Financing Warrants | 4,431 | 114 |
| Proceeds from exercise of options | 671 | — |
| Withholding taxes paid on vested RSUs | (54) | — |
| Net cash provided by financing activities | 249,389 | 19,255 |
| Effect of exchange rate changes on cash | (31) | 104 |
| Net increase/(decrease) in cash and cash equivalents | 195,580 | (24,443) |
| Cash and cash equivalents, beginning of period | 99,704 | 142,142 |
| Cash and cash equivalents, end of period | $295,284 | $117,699 |
| Supplemental Cash Flow Information | ||
| Cash paid for interest | $1,541 | $100 |
| Supplemental Noncash Disclosures | ||
| Conversion of 2022 USD Financing Warrants to common shares upon exercise of warrants | $5,244 | $64 |
| Deferred financing fees related to 2024 ATM included in accrued expenses | $6 | $— |
| Reclass of deferred financing fees related to 2022 ATM to additional paid-in capital | $332 | $— |
| Unpaid issuance costs for credit facility | $— | $170 |
| Proceeds from exercise of options in prepaid and other current assets | $— | $49 |
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