Mind Medicine MindMed Inc
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 6, 2025
DFTX$34.64-2.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Years Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(108,679) | $(95,732) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 16,913 | 15,183 |
| Directors' deferred share units expense | 761 | 311 |
| Amortization of intangible assets | 527 | 3,162 |
| Change in fair value of 2022 USD Financing Warrants | 15,941 | 6,636 |
| Gain on extinguishment of contribution payable | (2,541) | — |
| Unrealized foreign exchange | 506 | (363) |
| Amortization of debt issuance costs | 725 | 101 |
| Other non-cash adjustments | 62 | 56 |
| Changes in operating assets and liabilities: | ||
| Prepaid and other current assets | (4,337) | 39 |
| Other noncurrent assets | 48 | 51 |
| Accounts payable | (2,126) | 2,025 |
| Accrued expenses | 3,103 | 5,318 |
| Other liabilities, long-term | (32) | (1,152) |
| Net cash used in operating activities | (79,129) | (64,365) |
| 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) | (844) |
| Proceeds from the 2022 At-the-Market net of issuance costs | 984 | 7,529 |
| Payment of deferred financing fees related to 2024 At-the-Market | (499) | — |
| Proceeds from exercise of 2022 USD Financing Warrants | 8,268 | 114 |
| Proceeds from exercise of options | 716 | 49 |
| Withholding taxes paid on vested restricted share units | (54) | — |
| Net cash provided by financing activities | 253,196 | 21,848 |
| Effect of exchange rate changes on cash | (30) | 79 |
| Net increase/(decrease) in cash and cash equivalents | 174,037 | (42,438) |
| Cash and cash equivalents, beginning of year | 99,704 | 142,142 |
| Cash and cash equivalents, end of year | $273,741 | $99,704 |
| Supplemental Cash Flow Information | ||
| Cash paid for interest | $2,224 | $534 |
| Supplemental Noncash Disclosures | ||
| Conversion of 2022 USD Financing Warrants to common shares upon exercise of warrants | $8,407 | $64 |
| Reclass of deferred financing fees related to 2022 At-the-Market to additional paid-in capital | $332 | $— |
| Issuance of common shares upon conversion of loan principal | $3,000 | $— |
| Unpaid issuance costs for credit facility | $— | $128 |
| Proceeds from issuance of common shares under the 2022 At-the-Market in prepaid and other current assets | $— | $294 |
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