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Mindmed: chief legal officer Sullivan sells $110k in shares

Published 26/09/2025, 22:44
Mindmed: chief legal officer Sullivan sells $110k in shares
MNMD
-5.92%

Mark Sullivan, Chief Legal Officer of Mind Medicine (MindMed) Inc. (NASDAQ:MNMD), sold 11,278 common shares of the company on September 25, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The transaction comes as MindMed’s stock trades near its 52-week high of $11.02, having delivered an impressive 48.48% return over the past six months.

The shares were sold at a price of $9.77, for a total transaction value of $110,186. The filing indicates the sale was to cover withholding tax obligations related to the settlement of vested restricted stock units, executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 14, 2024. Following the transaction, Sullivan directly owns 293,852 shares of MindMed.

In other recent news, Mind Medicine Inc reported its second-quarter earnings for 2025, focusing on its financial health and future prospects. The company disclosed a strong cash position, with a cash runway extending into 2027, underscoring its ability to sustain operations and continue investing in research and development. Mind Medicine’s earnings per share (EPS) was reported at -$0.50, which fell short of the analyst forecast of -$0.37 by 35.14%. Despite missing the earnings estimate, the company’s stock saw a positive reaction in aftermarket trading, indicating investor confidence in its long-term strategy. These developments highlight the market’s interest in Mind Medicine’s pipeline and strategic direction.

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