Restore Mind Medicine
Severe Market Underperformance
Market Close
70
60
50
40
30
20
10
0
Mr. Barrow is appointed interim CEO
Jun 9 2021
May 3 2021
MindMed Announces Expanded Clinical
Development Pipeline, Releases Earnings
Mr. Barrow appointed permanent CEO
Dec 12 2022
Nov 11 2021
FCM announces the Value
Enhancement Plan
MindMed announces the
September Financing
I Sept 27 2022
Aug 11 2022
Mar 3 2023
Source: Company SEC Filings, MindMed Press Releases, Data from Refinitiv dated May 19, 2023. See [1]
MindMed's share price is down 95%
since current management took
over in June 2021.
MindMed leads its peer group as the worst
performer in 2022 and since June of 2021.
MindMed's shares trade below the underlying cash
value, with the market pricing in expectations of
cash burn and dilution; this contrasts to its peer
group which trades at close to 4x cash.
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