Restore Mind Medicine
Introduction
MindMed is an early-stage biopharmaceutical company developing psychedelic medicines with its lead drug candidate being LSD (MM-120).
Under the oversight of the MindMed board of directors (the "Board") since CEO Robert Barrow was appointed:
Shareholders have experienced a dramatic under-performance
of their shares; MindMed's share price declined 89% in 2022 v.
the average psychedelic company which declined 71% - in other
words: Mind Med declined 60% further than the average
psychedelic company;
Executive compensation
has soared and is
disconnected from
performance; and
MindMed has
repeatedly rebuffed our
entreaties to help over
the past two years.
MindMed has embarked
on a flawed and value
destructive clinical
strategy, characterized
by multiple failures;
FCM MM Holdings, LLC (“FCM", or "We"), beneficial owner of 3.5% of MindMed shares, is nominating four new highly experienced,
qualified director candidates to transform MindMed into a leading psychedelic company. FCM represents MindMed's founding
shareholders. We will add much needed clinical expertise to the Board and put the company back on track with our clinical plan.
Our nominee, Dr. Scott Freeman, is MindMed's co-founder and former Executive President and Chief Medical Officer.
If elected the candidates will drive accountability, put the
Company's clinical programs back on track, and restore value
for all shareholders.
Source: Company SEC filings. See [1]
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