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Mind Medicine (MNMD) to Report Q3 Earnings: What's in Store?
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We expect investors to focus on Mind Medicine’s (MNMD - Free Report) near-term strategic priorities and its focus on advancing its pipeline programs that are likely to get reflected in its third-quarter 2022 performance. These factors have the highest probability of generating near-term value.
Mind Medicine’s earnings surpassed expectations in three of the trailing four quarters and missed the same on the remaining occasion, the average negative surprise being 20%. In the last reported quarter, Mind Medicine posted an earnings surprise of 20%.
Mind Medicine MindMed Inc. Price, Consensus and EPS Surprise
In the year so far, shares of Mind Medicine have declined 86.4% compared with the industry’s fall of 24.6% fall.
Image Source: Zacks Investment Research
Let’s see how things have shaped up for the quarter to be reported.
Factors to Consider
Mind Medicine is a biopharma company focusing on developing products targeting the serotonin, dopamine and acetylcholine systems. The company currently has three product candidates in its portfolio, namely MM-120, MM-110 and MM-402, which constitute Mind Medicine’s lead products.
During the third quarter of 2022, the company took steps to advance its MM-120 program for generalized anxiety disorder (“GAD”) and attention deficit hyperactivity disorder (“ADHD”) and its MM-402 program and R (-)-MDMA program.
Mind Medicine, in August, reported dosing the first patient in its phase IIb dose-optimized study of MM-120 (200 µg), for treating GAD. The results from the phase II study will determine the dose selection and development strategy for the phase III study of the candidate.
In May, the company announced positive top-line results from a phase I placebo-controlled study of MM-110 evaluating the safety, tolerability, pharmacokinetics and neurocognitive effects of the candidate. The study results exhibited the potential clinical utility of MM-110 to mitigate the symptoms of opioid withdrawal safely. The results from the phase I study have helped determine the dose and design of the phase II study of the candidate.
The company plans to develop MM-110 in phase II clinical study and is looking for collaborations with third-parties to progress the program, the details of which is anticipated in third-quarter earnings call.
For its MM-402 candidate, the company intends to initiate a phase I study in late 2023. Additionally, the company intends to initiate a phase I study for its R (-)- MDMD candidate for autism spectrum disorder (“ASD”) in the third quarter of 2023.
In the second quarter, the management decided to reduce the fund allocation of resources to early-stage research programs. In the to-be-reported quarter, the operating expense is thus expected to have decreased. The company is looking for meaningful resources that will be allocated for the company’s high-priority programs.
Post-quarter developments
The company, in September, announced that it had dosed the first patient in a phase I investigator-initiated study, evaluating the effects of MDMA-like substances, including MDA, Lys-MDMA, Lys-MDA, against a placebo in healthy volunteers.
Earnings Whisper
Our proven model predicts an earnings beat for Mind Medicine this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Mind Medicine MindMed has an Earnings ESP of +5.71% as the Zacks Consensus Estimate is lower than the Most Accurate Estimate, which is pegged at a loss of 55 cents.
Here are a few more stocks in the same industry that have the right combination of elements to beat on earnings this time around:
AVEO Pharmaceuticals has an Earnings ESP of +8.16% and a Zacks Rank #2.
Aveo’s stock has risen 215.1% this year so far. AVEO beat earnings estimates in three of the trailing four quarters, missing the same in one. It has an earnings surprise of 13.10%, on average.
Editas Medicine (EDIT - Free Report) has an Earnings ESP of +3.47% and a Zacks Rank #2.
Editas’ stock has declined 56.2% in the year so far. EDIT beat earnings expectations in each of the trailing four quarters, the average surprise being 17.82%.
Immunocore (IMCR - Free Report) has an Earnings ESP of 73.75% and a Zacks Rank #3 (Hold).
Immunocore’s stock has risen 69.7 % in the year so far. IMCR beat earnings estimates in three of the trailing four quarters, missing the same in one. It has an average earnings surprise of 33.28%
Image: Bigstock
Mind Medicine (MNMD) to Report Q3 Earnings: What's in Store?
We expect investors to focus on Mind Medicine’s (MNMD - Free Report) near-term strategic priorities and its focus on advancing its pipeline programs that are likely to get reflected in its third-quarter 2022 performance. These factors have the highest probability of generating near-term value.
Mind Medicine’s earnings surpassed expectations in three of the trailing four quarters and missed the same on the remaining occasion, the average negative surprise being 20%. In the last reported quarter, Mind Medicine posted an earnings surprise of 20%.
Mind Medicine MindMed Inc. Price, Consensus and EPS Surprise
Mind Medicine MindMed Inc. price-consensus-eps-surprise-chart | Mind Medicine MindMed Inc. Quote
In the year so far, shares of Mind Medicine have declined 86.4% compared with the industry’s fall of 24.6% fall.
Image Source: Zacks Investment Research
Let’s see how things have shaped up for the quarter to be reported.
Factors to Consider
Mind Medicine is a biopharma company focusing on developing products targeting the serotonin, dopamine and acetylcholine systems. The company currently has three product candidates in its portfolio, namely MM-120, MM-110 and MM-402, which constitute Mind Medicine’s lead products.
During the third quarter of 2022, the company took steps to advance its MM-120 program for generalized anxiety disorder (“GAD”) and attention deficit hyperactivity disorder (“ADHD”) and its MM-402 program and R (-)-MDMA program.
Mind Medicine, in August, reported dosing the first patient in its phase IIb dose-optimized study of MM-120 (200 µg), for treating GAD. The results from the phase II study will determine the dose selection and development strategy for the phase III study of the candidate.
In May, the company announced positive top-line results from a phase I placebo-controlled study of MM-110 evaluating the safety, tolerability, pharmacokinetics and neurocognitive effects of the candidate. The study results exhibited the potential clinical utility of MM-110 to mitigate the symptoms of opioid withdrawal safely. The results from the phase I study have helped determine the dose and design of the phase II study of the candidate.
The company plans to develop MM-110 in phase II clinical study and is looking for collaborations with third-parties to progress the program, the details of which is anticipated in third-quarter earnings call.
For its MM-402 candidate, the company intends to initiate a phase I study in late 2023. Additionally, the company intends to initiate a phase I study for its R (-)- MDMD candidate for autism spectrum disorder (“ASD”) in the third quarter of 2023.
In the second quarter, the management decided to reduce the fund allocation of resources to early-stage research programs. In the to-be-reported quarter, the operating expense is thus expected to have decreased. The company is looking for meaningful resources that will be allocated for the company’s high-priority programs.
Post-quarter developments
The company, in September, announced that it had dosed the first patient in a phase I investigator-initiated study, evaluating the effects of MDMA-like substances, including MDA, Lys-MDMA, Lys-MDA, against a placebo in healthy volunteers.
Earnings Whisper
Our proven model predicts an earnings beat for Mind Medicine this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Mind Medicine MindMed has an Earnings ESP of +5.71% as the Zacks Consensus Estimate is lower than the Most Accurate Estimate, which is pegged at a loss of 55 cents.
Zacks Rank: Mind Medicine currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few more stocks in the same industry that have the right combination of elements to beat on earnings this time around:
AVEO Pharmaceuticals has an Earnings ESP of +8.16% and a Zacks Rank #2.
Aveo’s stock has risen 215.1% this year so far. AVEO beat earnings estimates in three of the trailing four quarters, missing the same in one. It has an earnings surprise of 13.10%, on average.
Editas Medicine (EDIT - Free Report) has an Earnings ESP of +3.47% and a Zacks Rank #2.
Editas’ stock has declined 56.2% in the year so far. EDIT beat earnings expectations in each of the trailing four quarters, the average surprise being 17.82%.
Immunocore (IMCR - Free Report) has an Earnings ESP of 73.75% and a Zacks Rank #3 (Hold).
Immunocore’s stock has risen 69.7 % in the year so far. IMCR beat earnings estimates in three of the trailing four quarters, missing the same in one. It has an average earnings surprise of 33.28%
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar