Mind Medicine (MindMed) Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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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, 2025 · Filed Nov 6, 2025
DFTX$34.64-2.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands, except share and per share amounts) | 2025 | 2024 | 2025 | 2024 |
| Operating expenses: | ||||
| Research and development | $30,978 | $17,188 | $84,144 | $43,538 |
| General and administrative | 14,691 | 7,604 | 34,587 | 27,916 |
| Total operating expenses | 45,669 | 24,792 | 118,731 | 71,454 |
| Loss from operations | (45,669) | (24,792) | (118,731) | (71,454) |
| Other income/(expense): | ||||
| Interest income | 2,262 | 3,507 | 7,469 | 8,279 |
| Interest expense | (1,274) | (727) | (4,214) | (1,627) |
| Foreign exchange loss, net | (39) | (32) | (107) | (589) |
| Change in fair value of 2022 USD Financing Warrants | (22,545) | 8,360 | (17,774) | (11,088) |
| Gain on extinguishment of contribution payable | — | — | — | 2,541 |
| Total other income/(expense) | (21,596) | 11,108 | (14,626) | (2,484) |
| Net loss | (67,265) | (13,684) | (133,357) | (73,938) |
| Other comprehensive loss | ||||
| Unrealized gain on investments | 196 | — | 242 | — |
| Gain/(loss) on foreign currency translation | (2) | (12) | (60) | 478 |
| Comprehensive loss | $(67,071) | $(13,696) | $(133,175) | $(73,460) |
| Net loss per common share, basic | $(0.78) | $(0.18) | $(1.56) | $(1.12) |
| Net loss per common share, diluted | $(0.78) | $(0.27) | $(1.56) | $(1.12) |
| Weighted-average common shares, basic | 85,885,516 | 77,909,441 | 85,436,678 | 65,938,025 |
| Weighted-average common shares, diluted | 85,885,516 | 80,238,688 | 85,436,678 | 65,938,025 |
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