Restore Mind Medicine
Change is Fundamentally
Required for Survival
FCM has been raising the alarm since August 2022 when there was time to work together. Time has run out.
Now, sell-side analysts project that MindMed will run out of cash in the second
half of 2024.
Analysts estimate that MindMed will have a cash burn of $154M in FY2023, FY2024 versus $142M in cash
at the start of 2023.
Surprisingly, MindMed continues to claim that their current cash is sufficient to last until mid-2025.
To survive, analysts expect dilution to soar by 50-100% in the next eighteen months.
We fear that there will be no next year: If MindMed does not have substantive immediate change, MindMed will
enter a spiral of dilution in 2024 as it struggles to raise funding.
This is why we took the extraordinary step to nominate four director candidates.
Source: Company SEC Filings. MindMed Press Releases. See [9]
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