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May 14 , 2021 MindMed MindMed Announces 2021 Q1 Financial Results ; Cash Balance of $ 160m USD ( $ 194m CAD ) to Execute on Diverse Clinical Pipeline NEW YORK , May 14 , 2021 / CNW / -- Mind Medicine ( MindMed ) Inc. ( " MindMed " or the " Company " ) ( NASDAQ : MNMD ) ( NEO : MMED ) ( DE : MMQ ) , a leading psychedelic medicine biotech company , has announced its quarterly financial results for the quarter ended March 31 , 2021 . 333 MindMed Q1 2021 Financial Highlights ( in USD ) • Total assets as of March 31 , 2021 were $ 201 million , including $ 160 million in cash • Net Cash Used in Operating Activities ( Total Cash Burn ) of $ 10 million for the quarter ended March 31 , 2021 • Net and comprehensive loss of $ 14 million for the three months ended March 31 , 2021 Q1 2021 Business Highlights • MindMed closed its acquisition of HealthMode , a leading machine learning digital medicine company , adding Bradford Cross as Chief Technology Officer to lead Albert and Dr. Daniel R Karlin as Chief Medical Officer • MindMed began the first - ever clinical trial combining MDMA and LSD in collaboration with UHB Liechti Lab • MindMed closed an upsized financing of $ 92 million CAD ( $ 73 million USD ) • MindMed closed a subsequent private placement of $ 19.5 million CAD ( $ 15.4 million USD ) • MindMed expanded its Microdosing Division adding a groundbreaking study evaluating LSD Microdosing through next - gen digital clinical markers • MindMed added Chief Development Officer , Robert Barrow , with FDA Phase 2 Psilocybin clinical trial experience • MindMed signed partnership with Swiss psychedelic drug discovery startup MindShift