Restore Mind Medicine
"Rubberstamped"
Executive Compensation
"Progress digital medicine programs, including
advancement of regulatory engagements and
clinical trials for session monitoring system."
"Launch commercial business unit to drive
market shaping and long-term value realization"
"Increase institutional knowledge of our
business, including through growth in amount
of sell-side coverage"
"Prepare and implement funding vehicles to
facilitate long-term financial sustainability"
MindMed's digital medicine candidates have stagnated and MindMed has
failed to announce any progress.
Three out of the four commercialization personnel were hired prior to
2022 and the CCO was a consultant for MindMed previously.
MindMed's analyst coverage grew primarily from companies Mind Med
paid $2.5M to execute the dilutive financing.
Institutional ownership of MindMed grew slightly from 13.2% in 2021 to 14.2%.
Analysts project that MindMed's cash will run out in 2024 instead of 2025.
Further, analysts expect MindMed will need to raise additional financing
which will dilute shareholders by 50-100% in 2024.
Despite all these failings, the Board determined that MindMed had completed 100% of its corporate goals.
Source: Company SEC Filings, MindMed Press Releases, MindMed Investor Presentations. See [9], [13]
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