Q4 2021 Mind Medicine (MindMed) Inc Earnings Call

[music].

Good morning and welcome to the Mind Medicine Full Year 2021 Financial Results and Corporate Update Conference call. Currently, all participants are on a listen-only mode. This call is being webcast live on the Investors and Media section of MindMed's website at mindmed.co, and a recording will be available after the call. For opening remarks, I will turn the call over to Rob Barrow, CEO of MindMed. Thank you. Please go ahead.

Good morning, and welcome to the mine Medicine full year 2021 financial results and corporate update conference call. Currently all participants are in a listen only mode. This call is being webcast live on the investors and media section of my Meds website at my meant Dutko Anna.

Recording will be available after the call.

For opening remarks, I will turn the call over to Rob Burrow C E O of mind, Matt. Thank you. Please go ahead.

Thank you and good morning, everyone.

Rob Barrow: Welcome to our full year 2021 financial results and corporate update cup.

Welcome to our full year 2021 financial results and corporate update conference call.

Rob Barrow: The press release reporting our financial results is available in the Investors and Media section of MiMed's website, and our annual report on Form 10-K for the year ended December 31, 2021, will be filed today with the Securities and Exchange Commission.

The press release reporting our financial results is available in the investors and media section of my mates website and our annual report on Form 10-K for the year ended December 31, 2021 will be filed today with the Securities and Exchange Commission. Joining me today is Dr. Dan Carlin, our Chief Medical Officer and Dr.

Rob Barrow: Joining me today is Dr. Dan Carlin, our Chief Medical Officer, and Dr. Mary Halpern-Wernle, our Executive President.

<unk> helper and worthy our executive President.

Rob Barrow: During today's call, we will be making certain forward-looking statements, including without limitation, statements about the potential, safety, efficacy, and regulatory and clinical progress of our product candidates, financial projections, and our future expectations.

During today's call, we will be making certain forward looking statements, including without limitation statements about the potential safety efficacy and regulatory and clinical progress of our product candidates.

Financial projections and our future expectations.

<unk> partnerships and prospects.

Rob Barrow: These statements are subject to various risks that are described in the filings made with the SEC, including the most recent annual report on Form 10-K .

These statements are subject to various risks that are described in our filings made with the SEC, including the most recent annual report on Form 10-K .

Rob Barrow: You are cautioned not to place undue reliance on these forward-looking statements, which are made as of today, March 28, 2022.

You are cautioned not to place undue reliance on these forward looking statements, which are made as of today March 28 2022.

Rob Barrow: MyMed disclaims any obligation to update such statements, even if management views change.

<unk> disclaims any obligation to update such statements, even if management's views change.

Rob Barrow: Before we dive into our program and corporate updates, I feel it is important to acknowledge the backdrop against which we have embarked on our mission to revolutionize the treatment of brain health disorders.

Before we dive into our program and corporate update.

It is important to acknowledge the backdrop against which we have embarked on our mission to revolutionize the treatment of brain health disorders. The.

Rob Barrow: The social isolation of the COVID-19 pandemic, the realities of climate change, the tragedies of war and refugee crises have contributed to soaring rates of anxiety, depression, substance abuse, and other brain disorders.

The social isolation of the COVID-19 pandemic the realities of climate change the tragedies of war and refugee crises have contributed to soaring rates of anxiety depression, and substance abuse and other brain disorders.

Rob Barrow: The good news is that there has been a significant resurgence in research of novel therapies to treat these conditions, and MindMed is leading the way in this effort.

The good news is that there has been a significant resurgence in research of novel therapies to treat these conditions in mind, Matt is leading the way in this effort.

Rob Barrow: We have big ambitions to revolutionize the treatment of brain health disorders by delivering on the therapeutic potential of psychedelics and other novel drug classes.

We have big ambitions to revolutionize the treatment of brain health disorders by delivering on the therapeutic potential psychedelic to the other novel drug classes.

Rob Barrow: We're applying our pharmaceutical expertise to develop these innovative therapies with the aim of generating rapid and sustained improvements in patient outcomes with applicability to anxiety, addiction, and even autism.

We are applying our pharmaceutical expertise to develop these innovative therapies with the aim of generating rapid and sustained improvements in patient outcomes with the SEC.

Ability to excite addiction, you can answer them.

This matters today more than ever.

Rob Barrow: The incredible team we've assembled at MiMed is unmatched expertise, and we are utilizing decades of academic research to accelerate our three lead drug candidates, MM120, MM110, and MM402, along with other novel therapies.

Incredible team we've assembled at mine that is unmatched expertise and we were utilizing decades of academic research to accelerate our three lead drug candidate and then 120, and then 110 and then four O two along with other novel therapies.

Rob Barrow: We're extremely pleased with the progress and transformational growth that propelled our business forward over the past year.

We are extremely pleased with the progress and transformational growth that propelled our business forward over the past year.

Rob Barrow: We made significant strides to advance all of our product candidates, and as I speak to you today, I believe MindMed has never been in a better position to become the leader in developing novel therapies to treat brain health disorders and to improve patient outcomes in areas of unmet medical need.

We made significant strides to advance all of our product candidates and as I speak to you today I believe mine back has never been in a better position to become the leader of developing novel therapies to treat brain health disorders and to improve patient outcomes in areas of unmet medical need.

Rob Barrow: I will now turn the call over to our Chief Medical Officer, Dr. Dan Carlin, to provide additional updates on each of our development programs.

I'll now turn the call over to our Chief Medical Officer, Dr. Dan Carlin to provide additional updates on each of our development programs.

Dan Carlin: Thank you Rob. Our drug pipeline at MyMed is comprised of a wide array of exciting product candidates that are either currently in or are nearing clinical trials. On this call I will focus on the programs with the most near-term visibility and highlight upcoming milestones starting with our lead drug candidate MM120.

Yeah.

Thank you Rob our drug pipeline that Mike made is comprised of a wide array of exciting product candidate.

They're either currently in or are nearing clinical trials on this call I will focus on the programs with the most near term visibility and highlight upcoming milestones starting with our lead drug candidate and then 120.

Dan Carlin: MM120 is a proprietary, pharmaceutically-optimized form of LSD that we are developing for the treatment of generalized anxiety disorder, or GAD.

And then more than 20 years of proprietary pharmaceutical optimized form a L. S. D that we are developing for the treatment of generalized anxiety disorder or J D.

Dan Carlin: GAD is an often debilitating mental health disorder that affects approximately 6% of U.S. adults in their lifetimes. Symptoms of GAD include excessive anxiety and worry that persists for over six months, which can lead to significant impairments in social, occupational, and other functioning. There has been very little innovation focused on the treatment of GAD over the past several decades.

Gee isn't often debilitating mental health disorder that affects approximately 6% of U S. Adults in their lifetimes symptoms of G. E. D included excessive anxiety and worry that persists for over six months, which can lead to significant impairments in social occupational and they're functioning.

There has been very little innovation focused on the treatment of G O D over the past several decades.

Dan Carlin: In January of this year, FDA cleared our Investigational New Drug Application, or IND, for our Phase 2b Dose Optimization Trial of MM120 for the treatment of GAD.

In January of this year FDA cleared our investigational new drug application or <unk> for our phase two b dose optimization trial of mm 120 for the treatment of G E D.

Dan Carlin: This trial is expected to initiate in the second quarter of 2022, with top line results expected in late 2023. The trial plans to enroll a total of 200.

This trial is expected to initiate in the second quarter of 2022 with topline results expected in late 2023, the trial plans to enroll a total of 200 participants who will receive a single administration of up to 200 micrograms of am 120 or placebo. The primary objective of this study is to determine the reduction in anxiety.

Dan Carlin: will receive a single administration of up to 200 micrograms of MM120 or placebo. The primary objective of the study is to determine the reduction in anxiety symptoms for up to 12 weeks after a single administration of MM120 across five treatment arms.

Symptoms for up to 12 weeks after a single administration of <unk>, and then 120 across five treatment arms.

Dan Carlin: I want to thank our dedicated clinical and regulatory teams here at MiMed for all their hard work in rapidly addressing the clinical hold related to the participant monitoring aspects of the protocol.

I want to thank our dedicated clinical and regulatory teams hurt my bad.

For all their hard work and rapidly addressing the clinical hold related to the participant monitoring aspects of the protocol.

Dan Carlin: Overcoming this regulatory hurdle represents a significant milestone for MindMed and for the industry as a whole, as it marks the first large commercially sponsored study of LSD in more than 40 years. The result of this trial will guide the dose selection and development strategy for our pivotal phase 3 clinical trials, as well as deepen our scientific understanding of the clinical effects of MM120.

Overcoming this regulatory hurdle represents a significant milestone for mine and for the industry as a whole as it marks the first large commercially sponsored study of LST in more than 40 years. The results of this trial will guide the dose selection and development strategy for our pivotal phase III clinical trials as well as deep.

And our scientific understanding of the clinical effects of EM 120.

Dan Carlin: and its underlying mechanisms of action. With a clear regulatory path, we look forward to building on this momentum and advancing this trial as quickly and efficiently as possible to address the unmet needs of patients who suffer from GAD.

And its underlying mechanisms of action with a clear regulatory path. We look forward to building on this momentum in advancing this trial as quickly and efficiently as possible to address the unmet needs of patients who suffer from J D.

Dan Carlin: In parallel, we are currently enrolling patients in our Phase 2a proof-of-concept trial of MM120 for the treatment of ADHD. We expect top-line data in

In parallel we are currently enrolling patients in our phase Iia proof of concept trial.

Mm 120 for the treatment of ADHD.

We expect top line data in late 2023.

Dan Carlin: While ADHD is often associated with children and adolescents, adults living with the disease face numerous challenges, from debilitating struggles with time management and impulsivity to mood swings and disorganization. Between 2007 and 2016 alone, the rate of ADHD amongst adults increased by 123%.

Well ADHD is often associated with children and adolescents adults living with the disease states numerous challenges from debilitating struggles with time management and impulsivity to good things in this organization between 2007 and 2016 alone the rate of ADHD amongst adult increased by 123%.

Dan Carlin: Of the estimated 10 million American adults with ADHD, it is estimated that only about 10 percent seek and receive treatment for their condition.

Of the estimated 10 million American adults with ADHD.

Estimated that only about 10% seek and receive treatment for their condition.

Dan Carlin: Interestingly, there is anecdotal evidence suggesting psychedelics such as LSD have beneficial and lasting effects on mood and selective cognitive processes when administered repeatedly at low doses. Further, low doses of LSD have been shown to be safe, well-tolerated, and have minimal effects on physiological parameters. This Phase 2a POC trial is being conducted in collaboration with the University Hospital Basel in Switzerland and Maastricht University in the Netherlands.

Interestingly there is anecdotal evidence, suggesting psychedelics, such as Atlas V have beneficial and lasting effects on mood and selective cognitive processes when administered repeatedly at low doses further low doses. The OSB has been shown to be safe well tolerated and have minimal effects on physiological.

Parameters. This phase Iia POC trial is being conducted in collaboration with the University Hospital Basel, Switzerland in Maastricht University in the Netherlands and is designed to evaluate the therapeutic utility of repeated doses of Dallas.

Dan Carlin: and is designed to evaluate the therapeutic utility of repeated low doses of LSD in adult patients with ADHD.

Patients with ADHD.

Dan Carlin: The trial plans to enroll a total of 52 participants who will receive a 20-microgram dose of MM120 or placebo twice weekly for six weeks. The primary endpoints for this study are a mean change from baseline and ADHD symptoms as assessed by the AISRS after six weeks of treatment. We look forward to driving this exploratory trial forward as part of our broader comprehensive LSD clinical development strategy.

<unk> plans to enroll a total of 52 participants who will receive a 20 microgram doses 120 or placebo twice weekly for six weeks. The primary endpoints for the study are mean change from baseline in ADHD symptoms as assessed by the AI Srs after six weeks of treatment, we look forward to driving this exploratory trial.

As part of our broader comprehensive LSD clinical development strategy.

Dan Carlin: In addition to our ongoing Phase 2 studies for MM120 in GAD and ADHD, we are currently advancing our strategic plans for MM120 in the treatment of select pain conditions and plan to initiate a clinical study of MM120 in chronic pain in late 2022. Moving on to.

In addition to our ongoing phase II studies for <unk> 'twenty and Ghd in ADHD. We are currently advancing our strategic plan for and then 120 in the treatment of select pain conditions and plan to initiate a clinical study of EM 120, and chronic pain in late 2022.

Moving onto our work and substance use disorders, the ongoing and ever growing opioid crisis claims over 75000 lives each year and impacts the lives of countless others. While idle gain has been used in studies as a treatment for opioid addiction. Its efficacy while promising has been overshadowed by significant safety concerns.

Dan Carlin: The ongoing and ever-growing opioid crisis claims over 75,000 lives each year and impacts the lives of countless others. While idogaine has been used and studied as a treatment for opioid addiction, its efficacy, while promising, has been overshadowed by significant safety concerns. Our proprietary molecule.

Our proprietary molecule M M 110.

Dan Carlin: also known as Zolunicant and 18MC, is an alpha-3 beta-4 nicotinic cholinergic receptor antagonist that has been tested extensively in preclinical models of withdrawal and substance use disorders. MM110 was demonstrated to reduce signs of opioid withdrawal and reduce self-administration of opioids, stimulants, nicotine, and effervescence.

Also known as so then it can't and 18 M. C is an outfit three beta for nicotinic cholinergic receptor antagonist that has been tested extensively in preclinical models of withdrawal and substance use disorders. And then 110 was demonstrated to reduce time to opioid withdrawal and reduced health administration of opioids stimulant nicotine.

And ethanol.

Dan Carlin: Extensive preclinical characterization has also shown Zelenicant to have a strong safety and tolerability profile. Importantly, Zelenicant has the potential to overcome safety limitations of iodine and has not demonstrated pro-arrhythmic or neurotoxic activity. We recently completed a phase one study of MM110 in late 2021, which assessed the safety, tolerability, pharmacokinetics, and cognitive effects of MM110 in healthy volunteers.

Extensive preclinical characterization is also showing some and it can have a strong safety and tolerability profile.

Fortunately so many can't has the potential to overcome safety limitations of IPG and has not demonstrated pro a rhythmic or neurotoxic activity. We recently completed a phase one study of M. M 110 in late 2021.

Which assessed the safety Tolerability pharmacokinetics and cognitive effects of EM 110 in healthy volunteers.

Dan Carlin: In this phase one single ascending dose and multiple ascending dose trial, subjects either received doses between 4 and 325 milligrams twice per day for one day, or doses between 2 and 90 milligrams twice per day for up to seven days.

In this phase one single ascending dose and multiple ascending dose trial subject to either receive doses between four and 325 milligrams twice per day for one day or doses between two and 90 milligrams twice per day for up to seven days, we plan to release top line data from the Phase one study and two.

Dan Carlin: We plan to release top-line data from the Phase 1 study and to initiate our Phase 2A clinical trial of MM110 in opioid withdrawal in the second quarter of 2022.

Initiate our phase Iia clinical trial of am 110, and opioid withdrawal in the second quarter of 2022.

Dan Carlin: Turning to a few key updates on our third lead program, MM402, or R-MDMA, which is a synthetic and anti-motive MDMA that exhibits prosocial and in pathogenic activity in preclinical models.

Turning to a few key updates on our third lead program <unk> four O two or R. M. D. M. A which is a synthetic an antiemetic MDMA exhibits pro social and an pathogenic activity in preclinical models we have.

Dan Carlin: We are developing MM402 for the treatment of the core symptoms of Autism Spectrum Disorder, or ASD, which is a developmental disorder characterized by atypical social communication and interactions, repetitive patterns of behavior, and restricted interest.

Developing and then four O two for the treatment of a core symptoms of autism spectrum disorder, or a S. D, which is a developmental disorder characterized by atypical social communications and interactions repetitive patterns of behavior and restricted interest despite a significant and growing prevalence. There are no therapies approved to treat that.

Dan Carlin: Despite its significant and growing prevalence, there are no therapies approved to treat the core symptoms of ASD. We currently use medications serving either to treat comorbid disorders or use for behavioral control.

Core symptoms of a S. D with currently use medications, serving either to treat comorbid disorders or used for behavioral control.

Dan Carlin: Our hope for MM402 is to demonstrate efficacy at enhancing social engagement and interaction rather than having sedating or blunting effects on individuals with ASD.

Our hope for M M Porto tumors to demonstrate efficacy and enhancing social engagement and interaction rather than having sedated or blunting effects on individuals' with ASD preclinical studies of our M. D. M. A demonstrated its acute pro social effects well, it's diminished dopaminergic activity suggests that it will exhibit a favorable safety.

Dan Carlin: Preclinical studies of RMDMA demonstrate its acute prosocial effect.

Dan Carlin: or diminished dopaminergic activity suggests that it will exhibit a favorable safety and tolerability profile compared to racemic MDMA or DS and anti.

Tolerability profile compared to racemic M D M. A R E S and antibody.

Dan Carlin: We are currently conducting comprehensive preclinical studies to facilitate sponsored clinical research studies of rMDMA beginning in 2023. Additionally, through our research collaboration with University Hospital Basel, we plan to initiate a comparative phase one pharmacokinetics and pharmacodynamics study of r, S, and racemic MDMA in mid-2022.

We are currently conducting comprehensive preclinical studies to facilitate sponsored clinical research studies of our M. D. M. A beginning in 2023. Additionally through our research collaboration with the University Hospital Basel, we plan to initiate a comparative phase one pharmacokinetic and Pharmacodynamic study of R. S. N V C.

M D MAA in mid 2022.

Dan Carlin: Moving on to digital medicine. Our drug development strategy is closely complemented by a platform of digital medicine products that have the potential to facilitate adoption, use, and access to our therapeutics.

Moving onto digital medicine, our drug development strategy as closely complimented by a platform of digital medicine products that have the potential to facilitate adoption use and access to our therapeutics.

Dan Carlin: In February 2021, the company completed the acquisition of Health Mode and fully integrated its team to enable rapid progression of our digital medicine and business operations function.

In February 2021, the company completed the acquisition of health node and fully integrated its team to enable rapid progression of our digital medicine and business operations functions.

Dan Carlin: With that team in place, we engaged in a productive pre-submission meeting with FDA in late 2021. In January of this year, the first subjects were enrolled into the Session Monitoring System, SMS-01, study. SMS-01 is evaluating the passive collection of sensory data during a consciousness altering therapeutic session using the MindMed Session Monitoring System, or MSMS.

With that team in place we engaged in a productive pre submission meeting with FDA in late 2021 in January of this year. The first subjects were enrolled into the session monitoring system SMS. One study SMS. How one is evaluating the passive collection of sensory data during our consciousness altering therapeutic session using.

My mid session monitoring system or M. S. M S.

Dan Carlin: MSMS is a technological platform that provides the foundation for the development and implementation of a suite of products for use by clinicians and patients during treatment sessions that may also include the use of consciousness-altering medications.

M. S. N S is a technological platform that provides the foundation for the development and implementation of a suite of products are used by clinicians and patient during treatment session. It may also include the use of consciousness altering medications.

Dan Carlin: The launch of this study is an important milestone for our future development of regulated devices and software as medical devices, or SAMD products, that are designed to support novel analyses of multimode data in the delivery of psychiatric care. The study will provide data that support the development of critical analysis algorithms.

The launch of this study is an important milestone for future development of regulated devices and software is medical devices or Sam D products that are designed to support novel analyses of multimodal data into library of psychiatric care. This study will provide data to support the development of critical analysis algorithms subsequent studies with <unk> 10.

Dan Carlin: Subsequent studies will intend to provide the evidence necessary for FDA clearance.

To provide the evidence necessary for FDA clearance.

Dan Carlin: The second of our key active digital medicine efforts, called Anxiety Digital Diagnoses for Precision Psychiatry, or ADAPT, is a combination of a natural history study and a newly developed mobile application to support the study. The study and its supporting app are expected to launch in private beta in the second quarter of 2022.

The second of our key active digital medicine efforts called the anxiety digital diagnosis, but precision psychiatry or adapt is a combination of a natural history study and a newly developed mobile application to support the study the study and its supporting App are expected to launch in private beta in the second quarter of 2022.

Dan Carlin: Our third key digital medicine effort progressed such that in September 2021 the first participants were enrolled by invitation in the Quantifying the Processes and Events of Psychotherapy at Scale study, which will provide a rich data set to enable a better understanding of patient progression, trends, and characteristics in the real-world treatment environment, and inform all aspects of our program planning.

Our third key digital medicine effort progress such that in September 2021. The first participants were enrolled by invitation in the quantifying the processes and events psychotherapy at scale study, which will provide a rich data set to enable a better understanding of patient progression trends and characteristics.

In the real world treatment environment, and inform all aspects of our program planning.

Yeah.

Dan Carlin: We believe our digital medicine products and projects could have monitoring and therapeutic benefits across a range of psychiatric disorders. By refining the techniques used to capture, model, and map the autonomic and behavioral outflow and other correlates in neural activity, we aim to improve the experience of clinicians and the outcomes for patients in the delivery of psychedelic and other perception-altering substances and psychotherapy.

We believe our digital medicine products and projects could have monitoring in therapeutic benefits across a range of psychiatric disorders.

Finally with techniques used to capture model and map, the autonomic and behavioral outflow and other correlates neural activity, we aim to improve the experience of clinicians and the outcomes for patients and the delivery of psychedelic and other perception altering substances and psychotherapies.

Dan Carlin: Our team has worked incredibly hard to advance this product into the clinic and we remain dedicated to rolling out these novel approaches and improving psychiatric outcomes for patients.

Our team has worked incredibly hard to advance this product into the clinic and we remain dedicated to rolling out these novel approaches and improving psychiatric outcomes for patients. Overall, we are extremely excited about these advancements and the value driving milestones ahead with that I will turn the call over to Dr. Mary, helping with me our executive President to discuss.

Speaker Change: Overall, we are extremely excited about these advancements and the value-driving milestones ahead. With that, I will turn the call over to Dr. Miri Halpern-Wernley, our Executive President, to discuss our exciting research collaborations and early-stage research and development activities.

Our exciting research collaboration and early stage research and development activities.

Thank you Dan.

Miri Halpern-Wernley: In addition to our sponsored development programs, over the past year, we have significantly strengthened our early research and development capability.

In addition to our sponsors development program.

Yeah, we have significantly strengthened our R&D research and development capabilities.

Miri Halpern-Wernley: both internally and through the external collaborations we have in place with leading academic and research organizations around the world.

It's doing really well.

Still on a collaboration we have in place.

I think and research organizations around the world.

Miri Halpern-Wernley: Before we dive into our ongoing collaborations, I want to highlight the critical role that academic institutions have played in advancing the psychedelic landscape, despite the many obstacles and regulatory hurdles.

Before we dive into our ongoing collaborations I want to highlight the critical role that academic institutions have played in advancing the psychedelic landscape.

Spike, but many obstacles and regulatory headwinds.

Miri Halpern-Wernley: As a company whose mission is to unlock new pathways to improve patient outcomes in brain health disorders, we are proud to join efforts with pioneers in the field to advance the understanding and development of new treatment modalities and biopharmaceuticals. Now, to our...

If a company whose mission is to I don't know clear pathways to improve patient outcomes and brain has these older nodes. We are proud to join efforts with pioneers in the field to advance the understanding and development of new treatment modalities and Biopharma.

Now to our specific ongoing project.

Miri Halpern-Wernley: Let me begin by discussing our collaboration with the Nishti Lab at the University Hospital Basel in Switzerland.

Let me begin by discussing our collaboration with the niche T lab at the University Hospital Basel, Switzerland.

Miri Halpern-Wernley: Under this partnership, we retained exclusive worldwide rights to data, compounds, and patents associated with their research program evaluating LSD and MDMA, and the collaboration was extended last year to also include two additional psychedelic compounds, mescaline and DMT.

Under this partnership we think exclusive worldwide rights to data compounds and patents associated with their research program evaluating there must be an nvme and the collaboration was expanded last year to also look at all.

The addition of psychedelic compounds.

Kelly on the empty.

Miri Halpern-Wernley: This includes data from preclinical studies, as well as 17 completed and seven ongoing clinical trials.

This includes data from preclinical studies as well as 70 people completed seven ongoing clinical trials are ongoing research collaboration with the U S can be missed the lab has generated a number of patents application based on preclinical and clinical data collected.

Miri Halpern-Wernley: Our ongoing research collaboration with the UHB LISTI lab has generated a number of patent applications based on preclinical and clinical data collected over the past decade.

Over the past week eight.

Miri Halpern-Wernley: And the data coming out of this partnership have been invaluable in accelerating our drug development program.

The data coming out of this partnership has been invaluable in accelerating our driver development programs.

Miri Halpern-Wernley: The LISTI lab recently published a peer-reviewed paper in neuropsychopharmacology comparing the acute effects of LSD and psilocybin in healthy subjects.

The niche they loved the recently published a peer reviewed paper neuropsychopharmacology comparing the acute effects of friendly's D N psilocybin in healthy subjects.

Miri Halpern-Wernley: The study demonstrated that the key differences between LSD and psilocybin are dose-dependent rather than substance-dependent.

The study demonstrated the key differences between NXP and psilocybin those dependent rather than samsung's dependent.

Miri Halpern-Wernley: This study further expands our knowledge and has the potential to inform future studies evaluating the therapeutic utility of psychoanalysis.

These studies further expands our knowledge and has the potential for future studies evaluating the therapeutic utility of psychedelics.

Miri Halpern-Wernley: We also have a research collaboration with the Cooper's Lab at Maastricht University in the Netherlands to evaluate the potential benefits of LSD on cognitive performance, sleep quality, mood, neuroplasticity markers, emotional regulation, quality of life, and immune system response.

We also have a research collaboration with a group of slab.

Recipe in the Netherlands to evaluate the potential benefits of the uncooperative for four months sleep quality.

Neuroplasticity markers emotional dysregulation quality of life.

System response.

Miri Halpern-Wernley: Our academic phase 2 study in Maastricht University was initiated in Q421 and continues to progress.

Alright, and then the phase two study in Maastricht University was initiated in Q4, 'twenty, one and continues to progress.

Miri Halpern-Wernley: Additionally, we have an ongoing collaboration partnership with MindShift Compounds Limited in Basel, Switzerland, on a drug discovery and optimization platform, developing and characterizing next-generation compounds with psychedelics and or empathogenic properties with both acute perceptual effects and non-perceptual effects.

Additionally, we have an ongoing collaboration partnership with my Chief corporate balance limited in bags in Switzerland on a drug discovery and optimization platform developing and characterizing next generation compounds with psychedelic and or an pathogenic properties.

Both acute perceptual effects and non perceptual effects.

Miri Halpern-Wernley: The partnership on these initial targets is aimed at expanding our own current well-established clinical pipeline.

Partnership on this emissions targets aimed at expanding our own quite well established clinical pipeline.

Miri Halpern-Wernley: The related intellectual property and pharmaceutical technology will be owned outright by mine.

The related intellectual property and pharmaceutical technology will be owned outright by Miami.

Miri Halpern-Wernley: Lastly, our ongoing research collaboration with the Israeli Innovative Drug Development Company Next Stage Therapeutics seeks to explore the therapeutic utility of a proprietary brain targeted liposome drug delivery technology to mitigate risk of peripheral adversity.

Lastly, our ongoing research collaboration with the Israeli innovative drug development company next stage therapeutics seeks to explore the therapeutic utility of our proprietary brain target that life of them dropped.

Technology to mitigate the risk of any sort of adverse effects.

Miri Halpern-Wernley: Utilizing this technology, we are collaborating with Nextage to develop a proprietary formulation of ibogaine derivatives.

Utilizing this technology, we are collaborating with next stage to develop a proprietary formulation of I believe in the river.

Miri Halpern-Wernley: seeking to minimize the systemic exposure while maintaining effective concentrations in the brain.

Speaking to me might the systemic exposure, while maintaining effective concentrations in the brain.

Miri Halpern-Wernley: The application of liposome to assist drug delivery has already had a major impact on a number of biomedical areas, showing benefit for stabilizing therapeutic compounds and improving biodistribution of compounds to target sites. I will now turn it back over to.

The application of life was also assisted driving delivery has already had a major impact on the number of biomedical areas showing benefit for stabilizing therapeutic compounds and improving bio distribution of compound to target that.

I will now turn it back over to Rob.

Thank you Mary.

Speaker Change: We'll now turn to our financial results for the first fourth quarter and fiscal year ended December 31st, 2021. As of December 31st, 2021, MindMed had cash totaling $133.5 million compared to $80.1 million as of December 31st, 2020.

Well now turn to our financial results for the first fourth quarter and fiscal year ended December 31, 2020 one as of December 31, 2021 mine that had cash totaling $133 $5 million compared to $81 million as of December 31, 2020.

Speaker Change: MindMed believes its available cash and equivalents will be sufficient to meet its operating requirements beyond its key development milestones and into 2024.

<unk> believes its available cash and equivalents will be sufficient to meet its operating requirement beyond its key development milestones and into 'twenty 'twenty four.

Speaker Change: The net cash used in operating activities were $45.8 million for the year ended December 31st, 2021 compared to $23.6 million for the same period in 2020.

The net cash used in operating activities were $45 $8 million for the year ended December 31, 2021, compared to $23 $6 million for the same period in 2020.

Speaker Change: R&D expenses were $34.8 million for the year ended December 31, 2021, compared to $18.6 million for the year ended December 31, 2020.

R&D expenses were $34 $8 million.

Year ended December 31, 2021, compared to $18 $6 million for the year ended December 31st 2020.

Speaker Change: The increase was primarily due to an increase of $2.3 million in expenses related to our MM120 clinical research.

The increase was primarily due to an increase of $2.3 million of expenses related to our mm 120 clinical research $2 million in expenses related to our and 110 clinical research $3 $5 million in expenses related to other research programs.

Speaker Change: $2 million in expenses related to our M110 clinical research.

Speaker Change: $3.5 million in expenses related to other research programs.

Speaker Change: Internal costs increased $11.1 million, primarily related to an increase in non-cash expenses of $6.6 million of stock-based compensation and $2.6 million of amortization of our developed technology.

Total cost increased $11 $1 billion, primarily related to an increase in noncash expenses of $6 $6 million stock based compensation and $2 $6 million of amortization of developed technology.

Speaker Change: DNA expenses were $59.1 million for the year ended December 31st, 2021 compared with $14.4 million for the year ended December 31st, 2020.

G&A expenses were $59 $1 million for the year ended December 31, 2021, compared with $14 $4 million a year ended December 31 2020.

Speaker Change: The increase was primarily due to higher professional services and personnel costs that support the growth of the company and an increase of $28.9 million in non-cash stock-based compensation expenses.

The increase was primarily due to higher professional services and personnel costs to support the growth of the company and an increase of $28 $9 million and noncash stock based compensation expenses.

Excluding stock based compensation G&A expenses were $29 $7 million for the year ended December 31, 2021, compared to $13 $3 million for the year ended December 31 2020.

Speaker Change: G&A expenses were $29.7 million for the year ended December 31, 2021 compared to $13.3 million for the year ended December 31, 2020.

Speaker Change: The net incomprehensive loss was $92.3 million for the year ended December 31st, 2021, compared to $33.7 million for the year ended December 31st, 2020.

The net and comprehensive loss was $92 $3 million for the year ended December 31, 2021, compared to $33 $7 million for the year ended December 31 2020.

Speaker Change: Overall, 2021 has been an extraordinary year for MindMed through which we made huge strides in building a world-class pharmaceutical organization that is well-positioned to deliver important therapies to patients in need and to deliver significant value to our shareholders.

Overall 2021 has been an extraordinary year for mine bad through which we made huge strides in building a world class pharmaceutical organization that is well positioned to deliver important therapies to patients in need and to deliver significant value to our shareholders.

Speaker Change: We have been very fortunate to attract top talent within our organization at every level, including with significant additions to our executive management team, board of directors, and scientific advisory board.

We've been very fortunate to attract top talent within our organization at every level, including with significant additions to our executive management team Board of directors and scientific Advisory Board.

Speaker Change: I'm incredibly proud of our numerous achievements across all areas of the organization and I could not be more grateful for the incredible people both within and outside our organization who make this critical.

I'm incredibly proud of our numerous achievements across all areas of the organization and I could not be more grateful for the incredible people, both within and outside our organization, who makes its critical work possible.

Speaker Change: We expect 2022 to be another significant year in the growth of MindMed as we continue advancing our drug and digital medicine pipeline.

We expect 2022 to be another significant year in the growth of mine bad as we continue advancing our drug and digital medicine pipeline.

Speaker Change: With that, I'd like to thank you all again for being here today and I'm happy to take any questions.

With that I'd like to thank you all again for being here today.

Happy to take any questions.

Speaker Change: Ladies and gentlemen, the floor is now open for questions. If you would like to ask a question, please press star 1 on your telephone keypad at this time. A confirmation tone will indicate your line is in the question queue. You may press star 2 if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Once again, that is star 1 to register a question at this time.

Ladies and gentlemen, the floor is now open for questions. If you would like to ask a question. Please press star one on your telephone keypad at this time a confirmation tone will indicate your line is in the question queue. You May press star two if he would like to remove your question from the queue for participants using speaker equipment. It may be necessary to pick up your handset before pressing the star can.

Once again that is star one to register a question at this time.

Speaker Change: Our first question is coming from Patrick Truccio of HC Wainwright. Please go ahead.

Our first question is coming from Patrick Tricia of H C. Wainwright. Please go ahead.

Patrick Truccio: Thanks. Good morning and congrats on all the progress. First, a couple of questions on MM120.

Thanks, Good morning, and congrats on all the progress first a couple of questions on M. M 120 <unk>.

Patrick Truccio: We have a few follow-up questions around the trial design and expectations around the phase two dose optimization trial in anxiety disorder. So, just first, how is the dose of 200 micrograms selected as well? How many preparation and integration therapy sessions are anticipated? How long are those sessions anticipated to last? And would they be conducted in person or virtually? And then just what is the placebo or control in the trial expected to be?

A few follow up questions around the trial design and expectations around the phase two dose optimization trial.

In anxiety disorder. So just first how is the dose of 200 micrograms selected them as well how many preparation and integration therapy sessions are anticipated how long are those sessions anticipated to last and what they'd be conducted in person or virtually and then just what what is the placebo or control in the trial.

Expect it to be.

Speaker Change: Great, thanks so much, Patrick. So, to take your first question, the dose range and the doses were selected in part driven by past research studies on LSD, which had looked at, in particular, a recent study of our colleagues out of UHB looked at doses of 25, 50, 100, and 200 micrograms.

Great. Thanks, so much Patrick so.

To take your first question.

Dose range.

Justice were selected in part driven by past research studies on L. S. D, which is looked at in particular, a recent study of our colleagues out of your H be.

Looked at doses of 25, 50, 102 hundred micrograms.

Speaker Change: and characterize the pharmacokinetic dynamics of those doses. And so when we approached this study, looking at those four dose levels plus the placebo control, both allowed us to leverage those preliminary PK PD data, but also gives us the breadth of exposure across a full dose range. We can really optimize and select a key dose to take forward into the pivotal efficacy studies.

And characterize the pharmacokinetics pharmacodynamics at those doses and so when.

When we approached this study looking at those four dose levels plus the placebo control.

Both allowed us to leverage those preliminary PK PD data.

It gives us the breadth of exposure across the full dose range, we can really optimize inflict a key dose to take forward into a pivotal efficacy studies.

Uh huh.

Speaker Change: The statistical methodology we've been using also supports that they need to look across a broad spectrum so they have a roughly tenfold difference in exposure from the low dose to the high dose.

The statistical methodology, we've been using are also supports the need to look across a broad spectrum. So they have they are.

Roughly 10 fold difference in exposure from the low dose to the high dose.

Speaker Change: or when you include the placebo zero up to 200 micrograms.

Or when you include the placebos zero up to 200 micrograms allows us to maximize our statistical power.

Speaker Change: allows us to maximize our statistical power while also leveraging those PKPB results.

So leveraging the PK PD results.

Speaker Change: Yes, about placebo, really, there's been a lot of dialogue, of course, around.

Yes about the placebo arm.

There's been a lot of dialogue of course around.

Speaker Change: appropriate choice of placebo in these clinical trials. Because we're doing a dose optimization study and we have five treatment arms including the placebo, we felt that a true placebo control was appropriate as a control condition.

The appropriate choice of placebo in these clinical trials.

We're doing a dose optimization study, we have five treatment arms, including the placebo.

We felt that the a true placebo control was appropriate.

Consult the condition.

Speaker Change: That said, the 25 microgram dose also serves as a.

That said the 25 microgram dose.

Also serves as a sub.

Speaker Change: perceptual sub-experiential dose of LSD and therefore we view both of those as somewhat of control.

Perceptual experiential dose of LST in and therefore, we view both of those as somewhat of control Nonetheless.

Speaker Change: Nonetheless, it is a dose optimization study. We're looking at the response curves across this dose range. And so, including the placebo control and looking at each of these dose levels will, are inherently important in assessing the response across the full range and allow us to choose a dose to move into pivotal studies that we can ultimately select a single comparator against.

Nonetheless, it is a dose optimization study we're looking at the response curves across this dose ranging so including the placebo control and looking at each dose level as well.

So inherently important in assessing the response across the full range of allow us to choose a dose.

Moving to two pivotal studies that we can ultimately selected.

Single competitor again.

Speaker Change: Yeah, that's helpful. And then just, you know, I think it was mentioned that there would be one, or it's expected to be, have the one active session. And so, I'm just wondering how the, I guess, how does the protocol kind of determine, how does the kind of regulators kind of view the kind of the therapy sessions? And is there, you know, is there a way that you could have some of those sessions done virtually, or how should we think about that?

Yeah. That's helpful. And then just you know I think it was mentioned that there would be one or it's expected to be the one.

One active session.

So I'm just wondering how the I guess, how does the protocol kind of determine.

How do you how does the kind of regulators kind of view the the kind of the therapy sessions and.

And is there you know is there a way that you could have some of those sessions done virtually or how should we think about that.

Speaker Change: Yeah, I think it's important to contextualize exactly what you're asking, which is the role of psychotherapy. I mean, obviously, when we zoom out and think globally, psychotherapy, we view as a critical element in the care of patients and essential for medical care.

Yeah, I think it's important to contextualize.

Exactly what you're asking which is the rollout of psychotherapy I mean, obviously when you zoom out and think globally psychotherapy, we view as a critical element in the care of patients from a central for.

Maximizing patient outcomes.

Speaker Change: That said, in the clinical research realm, we explicitly are not delivering psychotherapy as a part of this protocol.

That said in the clinical research round.

Explicitly are not delivering psychotherapy as a part of this protocol. There is of course the level of patient education that goes into prior to dosing fashion, making sure. The patients are ready for treatment administration.

Speaker Change: There is, of course, a level of patient education that goes into prior to a dosing session, making sure the patients are ready for the treatment administration. There's a very rigorous level of oversight during the treatment session, which includes observation by two individuals, and this has become standard for all drugs in this class. And then there are additionally follow-up visits, but none of these are psychotherapeutic in the...

A very rigorous level of oversight during the treatment session, which includes observation by two individuals.

It becomes standard for all drugs in this class and then there are additionally follow up visits but none of these are psychotherapeutic and the.

Speaker Change: by definition in our protocol and so they wouldn't qualify as psychotherapy as you think about it traditionally.

By definition in our protocol and it certainly wouldn't qualify as psychotherapy as you'd think about it traditionally.

Speaker Change: Got it. That's helpful. And if I may, just one on MM110. So, just with the Phase 1 trial evaluating MM110, just regarding that top-line release, what do you anticipate providing at that time? Would there be any biomarker imaging or other data to give further confidence that the compound is demonstrating a more acceptable safety and tolerability profile compared to ibogaine?

Got it that's helpful. And then if I may just one on <unk> and then 110, so just with the with the phase one trial evaluating M. M 110, just regarding that top line release.

What do you anticipate providing at that time would there be any biomarker imaging or other data give further confidence that the compound is demonstrating a more acceptable safety and tolerability profile compared to IV game.

Okay.

Speaker Change: Certainly one of the the key features that we're going to be looking at and those clinical results would be

So certainly one of the key features that we're going to be looking at and those kind of results would be cardiovascular risk that seems to be the number one liability with IV game based on market conditions.

Speaker Change: cardiovascular risk. That seems to be the number one liability with Ibogaine based on its hargan emission.

Speaker Change: And so, we did do a characterization of the cardiac vascular risk profile along with the safety and tolerability.

For like effects and so we did do a characterization of the.

Cardiovascular risk profile and along with the safety and Tolerability.

Speaker Change: and PK of NM110. So overall, it's gonna be generally what you'd anticipate from a phase one clinical study, and all the endpoints are described on clinicaltrials.gov. So there are not any biomarkers for clinical efficacy in this study. We certainly are.

And PK.

And then 110th so.

Overall, it's gonna be generally what you would anticipate from the phase one.

Clinical study and in all of the endpoints are described in our own clinical trials that got so there are not any biomarkers.

Biomarkers for clinical efficacy in this study.

We certainly are looking at the data too.

Speaker Change: fully characterize safety and tolerability, but also agreeing whatever we can about, of course, the CNS exposure and the potential to confirm that we're seeing CNS activity. So as we look at these results in the context of a typical phase one study, I think it would be really quite interesting when we see the comparisons to what we know in the literature about Ibogaine and also.

Fully characterize safety and Tolerability, but also glean whatever we can about of course, the CNS exposure and the potential.

To confirm that we're seeing in CNS activity says we look at these results in the context of a typical phase one study I think it would be really.

Quite interesting when we see the comparisons to what we know what the literature about I began and also.

Speaker Change: what we can glean from this in terms of the likelihood of having some CNS effects. Yep. That's, that's very helpful.

What we can glean from this in terms of the likelihood of having some CNS effects.

Yep, that's that's very helpful. Thank you so much.

Thanks, Patrick.

Speaker Change: Once again, that is star one. If you would like to register a question at this time. Our next question is coming from Seth Medichery of 8 Capital. Please go ahead.

Once again that is star one if you would like to register a question at this time. Our next question is coming from Seth military of eight capital. Please go ahead.

Yeah.

Seth Medichery: Thanks and congrats on the continued progress. With regards to the program that is enrolling currently, just can you give me some color on the level of enrollment? I think you mentioned there's 52 patients. When do you expect the last patient to be enrolled? And I guess, do you have visibility on pre-qualified subjects?

Thanks, and congrats on the continued progress.

With regards to the program that is enrolling currently I'm just can you give me some color on the.

The level of enrollment I think you mentioned, there's 52 patients when do you expect the last patient to be resolved and I guess do you have visibility on prequalified subjects.

Yeah.

Speaker Change: Yeah, thanks. I think you're referring to the ADHD study that's ongoing at the moment with LSD.

Yeah, I think so, but I think you're referring to the the ADHD study that's ongoing at the moment.

Let's see.

Speaker Change: Yeah, yeah, yeah, we haven't December announcement just wondering since then how many are have been enrolled.

Yeah, Yeah, yeah yeah.

The December announcement, just wondering since then.

There have been enrolled.

Speaker Change: Absolutely, yeah. We haven't made public the current enrollment, and we typically don't. I know it's ongoing enrollment rates from our studies. We still anticipate a readout in the second half of 2022 from that study. Sorry.

Absolutely Yeah, we haven't made public the current enrollment and we typically don't.

It's ongoing enrollment rates from our studies are we still anticipate a readout in the second half of 2020 through from that study.

Sorry is that the second half of 'twenty three correct.

Correct.

Speaker Change: Okay, so just wondering in terms of like are there levers in place that you guys could play with to whether it's accelerated enrollment or like just looking at the duration of some of these trials, like I think that one's the six-week trial, what translates to this kind of late 23 readout timeline and is there any levers you can pull to pull that forward? And the first thing that comes to my mind would be maybe more sites or qualifying, pre-qualifying patients.

Okay. So just wondering in terms of like are there levers in place that you guys could play with two whether it's accelerated enrollment or like just looking at the duration of some of these trials I think that one of the six week trial, what what translates to this kind of late 'twenty three readout timeline on it.

Are there any levers you can pull to pull that forward in the first thing that comes to my mind redeemed maybe more sites or <unk>.

Qualifying them pre qualifying patients, but is there anything you can point me to that might make that a little bit of a conservative estimate or is that what you're thinking.

Speaker Change: But yeah, is there anything you can point me to that might make that a little bit of a conservative estimate or is that what you're saying?

Yeah.

Speaker Change: It's definitely our anticipation at this point. We don't have plans to enroll site beyond those that we've already announced. You know, we do pull, we do have all the levers available to us. Any of these studies, there are some specific requirements for the patients to enroll.

It's definitely our anticipation at this point, we don't have plans to enroll sites beyond those that we've already announced.

We do Paul we didn't have all the levers available to us any of these studies there are some specific requirements for.

For the patients to enroll.

In terms of.

Speaker Change: concomitant medication use and the need to wash out and ultimately working with Schedule 1 controlled substances creates additional

No medication use and they need to wash out and.

Ultimately working with schedule one controlled substances create traditional.

Speaker Change: burden for site startup and the ability to fully enroll, perhaps at the same rate you'd see with a non-controlled substance in certain instances. So we are always looking and trying to ensure we

Burden for site start up and the ability to fully enroll perhaps at the same rate you would see with a non controlled substances certainly and so.

We're always looking and trying to ensure we.

Speaker Change: get clinical readouts as quickly as possible. We have a number of options available to us, but at this point we're continuing on the plan we have in place.

Clinical readouts as quickly as possible, we have a number of options available to us but at this point, we're continuing on the plan we have in place.

Speaker Change: Understood. And with regards to the Phase 2B, maybe, is there, or any of your other trials, do you have particular partnerships in place or sources of data that

Understood and with regards to the base to be maybe there are.

Or any of your other trials you have particular partnerships in place or sources of data that.

Speaker Change: give you insight into potential pre-qualified patients or patients you could pre-qualify or is it a going through your third parties that are conducting the basically operating the trial sites and going through enrollment there?

Give you insight into potential prequalified patients or patients, who can prequalify or is it.

Going through your third parties that are conducting that basically operating the trial sites and going through enrollment there.

Speaker Change: It's typically the enrollment for these studies.

Is it typically the enrollment for these studies.

Speaker Change: is largely driven in recruitment efforts or largely driven at a site level. We actually have seen elsewhere from some of our peers that

This is largely driven recruitment efforts are largely driven at a site level, we actually have seen elsewhere from some of our peers that.

Speaker Change: casting that even broader and going for centralized recruitment efforts can, in some cases, can muddy the waters further. You can get a huge volume of patients without actually screening those patients.

Yeah.

Casting that even broader and going for centralize recruitment efforts can.

Some of them can muddy the waters further you can get a huge volume of patients that actually screening those patients becomes.

Speaker Change: a recruitment challenge in itself to actually get to eligible patients. We do have multiple layers of recruitment activities that we'll be pursuing, both at a site level, that's where we largely rely at the outset, and then as we progress, as we identify

Recruitment challenging itself to actually get to eligible patients and so are we.

We do have multiple layers of recruitment activities that we'll be pursuing.

Both at a site level, and that's where we largely rely at the outset.

As we progressed as we identify enrolled.

Speaker Change: enrollment rates, we can always, to use your terminology, we can always pull additional lenders to enhance enrollment and patient availability. But central to these studies is really having sites that know their local population, that know their patients, and are able to go out and recruit them.

Enrollment rates, we can always.

Is your terminology, we can always pull additional levers to enhance enrollment and patient availability, but at the central to these studies is really having sites that didn't know their local population that other patients are able to go out and recruit them.

Speaker Change: Understood, understood. No, that makes sense. And with regards to, I guess, the formulation side of things, are there any hurdles in place for you to initiate the phase 2b in terms of having enough compound or in the

Understood understood now that makes sense and with regards to I guess the formulation side of things are there any hurdles in place for you to initiate the phase two b in terms of.

Having enough compound or in the.

Speaker Change: at a certain level of purity that you do require for phase 2b where you didn't outside of the U.S. jurisdiction like is there any hurdles there or are those ready to go?

At a certain level of purity that you do require face to be where you didn't.

Outside of the U S jurisdiction like are there any hurdles there are those ready to go.

Yeah.

Speaker Change: So, all the requisite information that would be required, both on the quality and CMC package and as well as on the clinical and non-clinical side was included in our IND submission, and we will certainly be updating that as we progress, but everything was included in our IND submission that was ultimately cleared by FDA, so we feel very confident and have the materials

All the all the requisite information that would be required both on the quality and CMC package and as well as on the clinical side was included in our NDA submission.

And we will certainly be updating that as we progress but everything is included in our R&D submission that was ultimately cleared by FDA. So we feel very confident in the materials.

Speaker Change: we will have the materials available and that we're able to progress that study in Q2.

So we will have the materials available in the progress of that study in Q2.

Speaker Change: Awesome. Awesome. And then just the one question regarding the, I know there's the LSD slash the trip stopper, ketanserin. Is that something that you expect to anticipate a readout on in the near term?

Awesome Awesome and then just the one question regarding the.

I know there was a L. S D slash the trip stop or a two tenths or am I.

Is that something that you expect the anticipated readout on in the near term or.

Speaker Change: Studies such as that, we are continuing that progress, that study.

Studies, such as that we are continuing the progress of that study.

Speaker Change: Studies such as that and the investigator-initiated studies that we conduct with our colleagues at University Hospital Basel.

Studies, such as that in the investigator initiated studies that we conducted our colleagues at University Hospital Basel.

Speaker Change: are subject to their disclosure timelines and ours should come out via publication. While we have read the data, they're not driven by our

Our our subject to disclosure timelines and it cannot be a publication and while we have right that the data.

They're they're not driven by a R. R.

Speaker Change: corporate readouts as a trial that we sponsor would be. We are anticipating readouts from that study this year, although the precise timing of that is going to be subject to publication timelines and release criteria at the university.

Corporate Readouts as a trial that we sponsor would be we are anticipating a readout from that study. This year, although the precise timing of that is going to be subject to a publication timelines and.

These criteria of University.

Speaker Change: understood understand maybe some key industry events or conferences things like that so we'll look out for those

Understood understand maybe some key.

Industry events or conferences and things like that so we'll look out for those.

Absolutely.

Awesome. Thank you.

I think so.

Speaker Change: Thank you. This concludes the question and answer portion of the call. I will now turn the call back over to MindMed's CEO , Rob Barrow, for closing comments. Mr. Barrow?

Thank you. This concludes the question and answer portion of the call I will now turn the call back over to my Meds CEO , Rob <unk> for closing comments Mr barrel.

Rob Barrow: Thank you, and thank you, everyone, again, for being here this morning. Before we conclude, I'd also like to thank our entire team at MiMed, our investors, our analysts, and the many people who have made this all possible and have been supportive along the way, including, in particular, our study participants and their families. This is a critically important time.

Okay. Thank you and thank you everyone again for being here this morning.

Before we conclude I'd also like to thank our entire team at mind that our investors are analyzed and the many people who have made this all possible and it's been supportive along the way.

In particular, our study participants and their families.

A critically important time.

Rob Barrow: in the treatment of brain health disorders and we're very excited to be a part of it.

And the treatment of brain health disorders, and we're very excited to be a part of it.

Speaker Change: Thank you all again and look forward to reconnecting in the future.

Thank you again and look forward to reconnecting in the future.

Speaker Change: Ladies and gentlemen, thank you for your participation. This concludes today's event. You may disconnect your lines or log off the webcast and enjoy the rest of your day.

Ladies and gentlemen, thank you for your participation. This concludes today's event you may disconnect your lines or log off the webcast and enjoy the rest of your day.

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