Analyzing the Quarter 3 financial results of atai Life Sciences (Nasdaq: ATAI), Compass Pathways (Nasdaq: CMPS), MindMed (Nasdaq: MNMD) and Cybin (NYSE: CYBN).
It’s earning season! In this episode we compare and contrast the financials of the four biggest companies in the psychedelic medicines space, atai, Compass Pathways, MindMed and CYBIN. All four released their Q3 financials in the past week. All four are the biggest psychedelic stocks
We also look at some of the highlights of the past quarter for each company, and do some rough back of the napkin math to determine when they will need to raise more capital.
Atai Life Sciences (atai stock) is the best financed company, and had a very eventful quarter. They started clinical trials studying r-ketamine, ibogaine, a schizophrenia drug and more.
Compass Pathways (CMPS stock), the next best financed psychedelics company, released the results of their long awaited Comp 360 phase 2b clinical trial, testing treating Treatment-Resistant Depression with psilocybin. They also announced a new trial using comp 360 to treat PTSD, hired the famous Hamilton Morris, and acquired an IP portfolio of novel medicines.
MindMed (MNMD Stock) had a quieter quarter, though it was still impressive. Despite having over a hundred million dollars in the bank, since they are spending so much on their million projects, they will likely have to raise capital through dilution within a year. Their work with LSD, 18-MC Psilocybin and more continues in the background, but this quarter was all about hiring talent.
Cybin (CYBN stock) is in a bigger cash crunch, only having enough capital for roughly a year. This means they will almost certainly be raising capital soon. Despite this, they had a great quarter and announced that their lead drug candidate CYB-003, a modified version of psilocybin, shows great promise in animal models.
Links:
Atai: https://www.atai.life/2021/11/05/atai-life-sciences-reports-third-quarter-2021-financial-results-and-corporate-update/
Compass Pathways: https://compasspathways.com/financial-results-and-business-highlights-for-the-third-quarter-2021/
MindMed:
https://www.prnewswire.com/news-releases/mindmed-announces-financial-results-for-the-third-quarter-2021-and-business-highlights-cash-balance-of-145-9-usd-185-4-cad-to-execute-on-diverse-clinical-pipeline-301423844.html
Cybin:
https://www.businesswire.com/news/home/20211115005552/en/Cybin-Inc.-Reports-its-Second-Quarter-Financial-Results-and-Recent-Business-Highlights
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DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
All of the information in this video is public information that James (The Psychedelic Investor) believes to be reliable but it is not guaranteed to be 100% accurate and as such should not be used as advice. Any opinions or thoughts from James (The Psychedelic Investor) are subject to change.
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