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Robert Barrow, the Chief Executive Officer of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD), a clinical-stage biotech company with a market capitalization of $495 million and strong liquidity position (current ratio of 7.25x), recently sold 21,208 common shares of the company. The shares were sold at a weighted average price of $6.74, resulting in a total transaction value of approximately $142,941. This sale was conducted on March 25, 2025, as part of a plan to satisfy tax obligations related to the settlement of vested restricted stock units. According to InvestingPro analysis, MNMD’s stock has shown significant volatility, with the price currently at $6.58, trading between a 52-week range of $5.03 to $12.22. The shares were sold under a Rule 10b5-1 plan, which was adopted on June 15, 2022. Following the transaction, Barrow retains ownership of 856,556 shares. With an analyst consensus recommendation of 1.36 (Strong Buy), investors seeking deeper insights can access the comprehensive Pro Research Report available on InvestingPro, which covers key metrics and expert analysis for MNMD among 1,400+ US stocks.
In other recent news, Mind Medicine Inc. reported its fourth-quarter 2024 earnings, revealing a larger-than-expected loss per share of -0.41, missing the forecasted -0.31. The company did not report any revenue for the period. Despite the earnings miss, MindMed’s cash and cash equivalents increased significantly to $273.7 million by the end of 2024, providing a financial buffer for ongoing clinical trials. H.C. Wainwright maintained its Buy rating for MindMed, with a price target of $55, highlighting upcoming Phase 3 clinical trial readouts as potential catalysts for the stock. The firm emphasized MindMed’s strong Phase 2b data, noting the company’s well-funded position with $274 million in cash reserves to support its clinical programs. Additionally, MindMed announced the appointment of Matt Wiley as Chief Commercial Officer to guide the commercial strategy for potential product launches, including the MM120 tablet for anxiety and depression disorders. Wiley’s appointment comes as the company prepares for key clinical readouts from its Phase 3 development program anticipated in 2026. These developments reflect MindMed’s strategic focus on advancing its clinical trials and strengthening its financial position.
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