Mind Medicine (MindMed) (MNMD) investor relations material

Strategic focus and market approach

• Pursuing broad indications in MDD and GAD to maximize patient impact and market opportunity, rather than a narrower TRD focus.

• Broad label strategy aims to address two of the most prevalent psychiatric disorders, enabling access to a larger patient base.

• Growing acceptance of psychedelics among both new and established psychiatrists, with strong support from academic leaders.

• Patient interest is high due to media coverage and the promise of effective, safer treatments compared to current options.

• Commercialization will initially leverage existing high-volume treatment centers, with plans for rapid expansion beyond current infrastructure.

Clinical development and data highlights

• 120 is an orally disintegrating LSD D-tartrate tablet with strong patent protection and enhanced stability and pharmacokinetics.

• Phase 2b in GAD showed the largest placebo-adjusted improvement ever seen in anxiety, with 48% remission at 12 weeks after a single treatment.

• Rapid onset of effect observed, with significant improvement in disease severity within 24 hours, and durable results lasting 12 weeks.

• Safety profile includes transient perceptual effects peaking within 1 hour and resolving by 8 hours; no increase in suicidality observed.

• Dose selection for phase 3 based on phase 2 dose-response, with 100 micrograms chosen for optimal efficacy and tolerability.

Study design and operational efficiencies

• Phase 3 studies use multiple designs, including a 50-microgram decoy arm to enhance robustness and address functional unblinding.

• Open-label extension allows up to four repeat treatments over 40 weeks, triggered by disease severity, to simulate real-world use.

• Overlapping GAD and MDD studies enable operational efficiencies and flexible patient enrollment, supporting three major readouts next year.