MindMed Q3 net loss widens to $67.3 mln

Reuters11-07
MindMed Q3 net loss widens to $67.3 mln

Overview

  • MindMed Q3 net loss widens to $67.3 mln, driven by increased R&D and G&A expenses

  • Company completed public offering, raising $242.8 mln in net proceeds

Result Drivers

  • PUBLIC OFFERING - Completed public offering raised $242.8 mln in net proceeds, strengthening financial position

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

-$0.78

Q3 Net Income

-$67.3 mln

Q3 Basic EPS

-$0.78

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • Wall Street's median 12-month price target for Mind Medicine (MindMed) Inc is $21.00, about 45.1% above its November 5 closing price of $11.53

Press Release: ID:nBw19QgRRa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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