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NEW YORK - Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), a biopharmaceutical company focused on brain health disorders, announced the appointment of Brandi L. Roberts as its new Chief Financial Officer, effective June 2, 2025. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 7.27x. Roberts will oversee financial strategy, capital planning, and other key financial areas as MindMed progresses its lead product candidate MM120, targeting anxiety and depression disorders.
Roberts brings over 25 years of experience in the financial sector of the life sciences industry, having most recently served as CFO and Executive Vice President at Longboard Pharmaceuticals. Her background includes guiding companies through initial public offerings and acquisitions, notably the $2.6 billion acquisition of Longboard by Lundbeck in 2024. This appointment comes as four analysts have revised their earnings upward for the upcoming period, according to InvestingPro data.
MindMed’s CEO, Rob Barrow, expressed confidence in Roberts’ ability to contribute to the company’s growth and support its potential commercialization of MM120, an orally disintegrating tablet designed for the treatment of generalized anxiety disorder (GAD) and major depressive disorder (MDD).
Roberts expressed enthusiasm about joining MindMed, highlighting the company’s commitment to addressing mental health issues and her role in building a strong financial infrastructure to support its scientific endeavors.
In conjunction with her appointment, MindMed will grant Roberts inducement awards on June 2, 2025, including an option to purchase 500,000 common shares and 125,000 performance share units, with vesting conditions based on her continued employment and the achievement of performance metrics. The company’s stock, currently trading at $7.30, has shown strong momentum with a YTD return of 4.89% and appears undervalued according to InvestingPro’s Fair Value analysis.
MindMed is recognized for its development pipeline of innovative product candidates, including treatments with and without acute perceptual effects, and trades on NASDAQ under the ticker symbol MNMD. With a market capitalization of $551.54 million and an overall Financial Health score of "FAIR" from InvestingPro, the company shows promise despite current unprofitability. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks including MNMD.
This news is based on a press release statement from Mind Medicine Inc.
In other recent news, Mind Medicine Inc. (MindMed) released its Q1 2025 earnings report, showing an earnings per share (EPS) of -$0.35, slightly missing analysts’ forecast of -$0.34. Despite this minor miss, the company reported increased research and development expenses, which rose to $23.4 million from $11.7 million in Q1 2024, as it continues to invest in its Phase 3 trials for MM120 ODT. MindMed’s cash reserves remain strong at $245.5 million, providing a financial runway extending into 2027. The company also amended a loan agreement to access up to $120 million, enhancing its financial flexibility. MindMed is actively recruiting for three Phase 3 trials targeting generalized anxiety disorder (GAD) and major depressive disorder (MDD), with top-line data expected in 2026. The company received a Breakthrough Therapy Designation for MM120 ODT in GAD, indicating potential regulatory advantages. Analyst feedback from firms like RBC Capital Markets suggests ongoing confidence in MindMed’s strategic direction and clinical progress.
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