Mind Medicine (MNMD) 10-Q 16 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 03, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Registrant Name	Mind Medicine (MindMed) Inc.
Entity Central Index Key	0001813814
Trading Symbol	MNMD
Current Fiscal Year End Date	--12-31
Title of 12(b) Security	Subordinate Voting Shares, no par value per share
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity File Number	001-40360
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	98-1582538
Entity Address, Address Line One	One World Trade Center
Entity Address, Address Line Two	Suite 8500
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10007
City Area Code	650
Local Phone Number	208-2454
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		422,444,539

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash	$ 120,472	$ 133,539
Prepaid and other current assets	2,755	3,676
Total current assets	123,227	137,215
Goodwill	19,918	19,918
Intangible assets, net	6,089	6,869
Total assets	149,234	164,002
Current liabilities:
Accounts payable	3,332	4,178
Accrued expenses	7,227	6,230
Total current liabilities	10,559	10,408
Contribution payable, long-term	1,870	1,930
Total liabilities	12,429	12,338
Commitments and contingencies (Note 11)
Shareholders' Equity:
Additional paid-in capital	291,931	288,290
Accumulated other comprehensive income	997	1,046
Accumulated Deficit	(156,123)	(137,672)
Total shareholders' equity	136,805	151,664
Total liabilities and shareholders' equity	149,234	164,002
Subordinate Voting
Shareholders' Equity:
Common stock
Multiple Voting
Shareholders' Equity:
Common stock

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Subordinate Voting
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued	422,401,776	421,444,157
Common stock, shares outstanding	422,401,776	421,444,157
Multiple Voting
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued	0	4,521
Common stock, shares outstanding	0	4,521

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating expenses:
Research and development	$ 10,241	$ 6,813
General and administrative	8,264	7,035
Total operating expenses	18,505	13,848
Loss from operations	(18,505)	(13,848)
Other income (expense):
Interest expense, net	(27)	(87)
Foreign exchange gain, net	45	8
Other income	36	168
Total other income, net	54	89
Net loss	(18,451)	(13,759)
Other comprehensive gain/(loss):
(Loss)/gain on foreign currency translation	(49)	59
Comprehensive loss	$ (18,500)	$ (13,700)
Net loss per common share, basic and diluted	$ (0.04)	$ (0.04)
Weighted-average common shares, basic and diluted	422,212,489	389,575,029

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common StockSubordinate Voting	Common StockMultiple Voting	Additional Paid-In Capital	Accumulated OCI	Accumulated Deficit
Balance at Dec. 31, 2020	$ 75,868			$ 120,220	$ 284	$ (44,636)
Balance, Shares at Dec. 31, 2020		306,135,160	550,000
Issuance of Subordinate Voting Shares and Warrants, net of share issuance costs	82,113			82,113
Issuance of Subordinate Voting Shares and Warrants, net of share issuance costs, Shares		26,930,000
Subordinate Voting Shares conversion to Multiple Voting Shares		(3,500,000)	35,000
Issuance of Subordinate Voting Shares for vested director compensation	66			66
Issuance of Subordinate Voting Shares for vested director compensation, Shares		622,435
HealthMode acquisition	27,159			27,159
HealthMode acquisition, Shares			81,497
Exercise of warrants	6,697			6,697
Exercise of warrants, Shares		4,228,880
Exercise of stock options	1,178			1,178
Exercise of stock options, Shares		4,519,879
Stock-based compensation expense	1,213			1,213
Net loss and Comprehensive loss	(13,700)				59	(13,759)
Balance at Mar. 31, 2021	180,594			238,646	343	(58,395)
Balance, Shares at Mar. 31, 2021		338,936,354	666,497
Balance at Dec. 31, 2021	151,664			288,290	1,046	(137,672)
Balance, Shares at Dec. 31, 2021		421,444,157	4,521
Multiple Voting Shares conversion to Subordinate Voting Shares		452,060	(4,521)
Exercise of warrants	118			118
Exercise of warrants, Shares		187,851
Exercise of stock options	$ 123			123
Exercise of stock options, Shares	317,708	317,708
Withholding taxes paid on vested restricted share units	$ (407)			(407)
Stock-based compensation expense	3,807			3,807
Net loss and Comprehensive loss	(18,500)				(49)	(18,451)
Balance at Mar. 31, 2022	$ 136,805			$ 291,931	$ 997	$ (156,123)
Balance, Shares at Mar. 31, 2022		422,401,776

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (18,451)	$ (13,759)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	3,792	1,279
Amortization of intangible assets	780	260
Changes in operating assets and liabilities:
Prepaid and other current assets	922	(732)
Accounts payable	(843)	1,581
Accrued expenses	994	1,377
Contribution payable	(60)	(44)
Net cash used in operating activities	(12,866)	(10,038)
Cash flows from investing activities
Acquisition, net of cash acquired		(297)
Other investing activities		(19)
Net cash used in financing activities		(316)
Cash flows from financing activities
Proceeds from issuance of share capital, net of issuance costs		82,113
Proceeds from exercise of warrants	118	6,697
Proceeds from exercise of options	123	1,178
Withholding taxes paid on vested restricted stock units	(407)
Net cash (used in) provided by financing activities	(166)	89,988
Effect of exchange rate changes on cash	(35)	313
Net (decrease) increase in cash	(13,067)	79,947
Cash, beginning of period	133,539	80,094
Cash, end of period	$ 120,472	$ 160,041

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2022
Nature Of Operations [Abstract]
Description of the Business	1. DESCRIPTION OF THE BUSINESS Mind Medicine (MindMed) Inc. (formerly Broadway Gold Mining Ltd.) (the “Company” or “MindMed”) is incorporated under the laws of the Province of British Columbia. Its wholly owned subsidiaries, Mind Medicine, Inc. (“MindMed US”), HealthMode, Inc., MindMed Pty Ltd., and MindMed GmbH, are incorporated in Delaware, Delaware, Australia and Switzerland respectively. Prior to February 27, 2020, the Company’s operations were conducted through MindMed US. MindMed US was incorporated on May 30, 2019. On February 27, 2020, MindMed US completed a reverse takeover transaction with Broadway Gold Mining Ltd. (“Broadway”) by way of a plan of arrangement (the "Arrangement") which resulted in Broadway becoming the legal parent company of MindMed US. MindMed US is deemed to be the accounting acquirer in the reverse takeover transaction. The reverse takeover transaction was accounted for as a reverse recapitalization and Broadway was treated as the “acquired” company for accounting purposes. The reverse takeover transaction was accounted as the equivalent of MindMed issuing stock for the net assets of Broadway, accompanied by a recapitalization. Accordingly, all historical financial information for all periods prior to the reverse takeover transaction are the consolidated financial statements of MindMed US, “as if” MindMed US is the predecessor to the Company. As a result, the consolidated balance sheets are presented as a continuance of MindMed US and the comparative figures presented are those of MindMed US. MindMed is a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, with a particular focus on psychiatry, addiction, pain and neurology. The Company's mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. The Company is developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine and acetylcholine systems. This specifically includes pharmaceutically optimized drug products derived from the psychedelic and empathogen drug classes including LSD, R(-)-MDMA and zolunicant, or 18-MC, a congener of ibogaine. As of March 31, 2022, the Company had an accumulated deficit of $ 156.1 million. Through March 31, 2022, all of the Company’s financial support has primarily been provided by proceeds from the issuance of Subordinate Voting Shares and warrants to purchase Subordinate Voting Shares. As the Company continues its expansion, it may seek additional financing and/or strategic investments, however, there can be no assurance that any additional financing or strategic investments will be available to the Company on acceptable terms, if at all. If events or circumstances occur such that the Company does not obtain additional funding, it will most likely be required to reduce its plans and/or certain discretionary spending, which could have a material adverse effect on the Company’s ability to achieve its intended business objectives. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary if it were unable to continue as a going concern. Management believes that it has sufficient working capital on hand to fund operations through at least the next twelve months from the date of the issuance of these financial statements. COVID-19 The outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. Depending on the length and severity of the pandemic, COVID-19 could impact the Company's operations, could cause delays relating to approval from the FDA and equivalent organizations in other countries, could postpone research activities, could impair the Company's ability to raise funds depending on COVID-19’s effect on capital markets, and could affect logistics and the Company’s ability to move materials in a timely manner to clinical trial sites or production of Good Manufacturing Practice ("GMP") materials (which availability of GMP materials may also impact clinical trial timelines). To the knowledge of the Company’s management as of the date hereof, COVID-19 does not present, at this time, any specific known impacts to the Company in relation to the Company's business objectives or milestones related thereto. The Company relies on third parties to conduct and monitor the Company’s pre-clinical studies and clinical trials. However, to the knowledge of Company’s management, the ability of these third parties to conduct and monitor pre-clinical studies and clinical trials has not been and is not anticipated to be impacted by COVID-19. The Company is not currently aware of any changes in laws, regulations or guidelines, including tax and accounting requirements, arising from COVID-19 which would be reasonably anticipated to materially affect the Company’s business. Emerging Growth Company Status The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act"). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use the extended transition period for complying with new or revised accounting standards, and as a result of this election, the condensed consolidated financial statements may not be comparable to companies that comply with public company FASB standards’ effective dates. The Company may take advantage of these exemptions up until the last day of the fiscal year following the fifth anniversary of an offering or such earlier time that it is no longer an EGC.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. BASIS OF pRESENTATION AND Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2021, which are included in the Company’s Annual Report on Form 10-K filed with the SEC. The Company’s significant accounting policies are disclosed in the audited financial statements for the periods ended December 31, 2021 and 2020, included in the Company’s Annual Report on Form 10-K. Since the date of those financial statements, there have been no changes to its significant accounting policies, except as noted below. The accompanying condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates of the Financial Accounting Standards Board (“FASB”). The preparation of financial statements in conformity with U.S. GAAP requires management to make a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates under different assumptions or conditions. Intercompany balances and transactions, and any unrealized income and expenses arising from intercompany transactions, are eliminated in preparing the condensed consolidated financial statements. Foreign Currency The Company’s reporting currency is the U.S. dollar. The Company's functional currency is the Canadian dollar (“CAD”). The local currency of the Company’s foreign affiliates is generally their functional currency. Accordingly, the assets and liabilities of the foreign affiliates and the parent entity, are translated from their respective functional currency to U.S. dollars using fiscal year-end exchange rates, income and expense accounts are translated at the average rates in effect during the fiscal year and equity accounts are translated at historical rates. Transactions denominated in currencies other than the functional currency are remeasured to the functional currency at the exchange rate on the transaction date. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured at period-end using the period-end exchange rate. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position, results of operations, or cash flows upon adoption. In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. In July 2018, the FASB issued ASU 2018-11 to amend certain aspects of Topic 842. These amendments provide entities with an additional (and optional) transition method to adopt Topic 842. Under this transition method, an entity initially applies the transition requirements in Topic 842 at that Topic’s effective date with the effects of initially applying Topic 842 recognized as a cumulative effect adjustment to the opening balance of retained earnings (or other components of equity or net assets, as appropriate) in the period of adoption. On April 8, 2020, the FASB changed the effective date of this standard applicable to the Company as an emerging growth company to January 1, 2022 . The Company adopted this standard effective January 1, 2022 , the adoption had no impact on the consolidated financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination And Asset Acquisition [Abstract]
Acquisitions	3. ACQUISITIONS HealthMode Acquisition On February 26, 2021 the Company acquired 100 % of the issued and outstanding shares of HealthMode Inc. (“HealthMode”), a developer of technologies using Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. The Company plans to utilize these technologies in its clinical trials to enhance the quality of the data that is collected during the Company’s clinical trials. The consideration paid for the acquisition of HealthMode was $ 27.6 million, and consisted of $ 0.5 million cash, 81,497 Multiple Voting Shares (equivalent to 8,149,700 Subordinate Voting Shares), valued at approximately $ 27.0 million based upon the closing price of the Company's Subordinate Voting Shares on the acquisition date, and $ 0.1 million in stock options ( 33,619 stock options), which are convertible into Subordinate Voting Shares of the Company. The Company incurred acquisition costs of $ 0.3 million in connection with the acquisition, primarily related to legal, accounting, and other professional services, which were recorded to general and administrative expense in the accompanying condensed consolidated statements of operations and comprehensive loss. The Company recognized this transaction as a business combination. The Company recognized approximately $ 9.5 million of identifiable finite-lived intangible assets and $ 19.9 million of goodwill related to the acquisition of HealthMode. The identifiable finite-lived intangible assets are expected to be amortized over their useful lives which are estimated to be three years . The Company has made no adjustments to the purchase price during the measurement period. Actual and pro forma results for this acquisition have not been presented as the financial impact to the Company’s condensed consolidated statement of operations is not material. The goodwill is attributable to the value of the assembled workforce, and the related expertise and developed business function. Further, the acquisition is expected to allow the Company to streamline its product development processes. None of the goodwill is expected to be deductible for tax purposes.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. FAIR VALUE OF FINANCIAL INSTRUMENTS The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and the fair value hierarchy of the valuation techniques utilized. The Company classifies its assets and liabilities as either short- or long-term based on maturity and anticipated realization dates. The Company had no assets measured at fair value on a recurring basis as of March 31, 2022 or December 31, 2021. March 31, 2022 Level 1 Level 2 Level 3 Total Financial liabilities: Directors' Deferred Share Unit Liability $ 490 $ — $ — $ 490 December 31, 2021 Level 1 Level 2 Level 3 Total Financial liabilities: Directors' Deferred Share Unit Liability $ 509 $ — $ — $ 509 There were no transfers into or out of Level 1, Level 2, or Level 3 during the three months ended March 31, 2 0 22 and the year ended December 31, 2021.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	5. GOODWILL AND INTANGIBLE ASSETS, NET Goodwill During the three months ended March 31, 2022, the Company has made no additions to its outstanding goodwill. There were no triggering events identified, no indication of impairment of the Company’s goodwill and long-lived assets, and no impairment charges recorded during the three months ended March 31, 2022 and 2021. Intangible assets, net The following table summarizes the carrying value of the Company's intangible assets (in thousands): March 31, 2022 Useful Lives Gross Carrying Accumulated Net Carrying Developed Technology 3 $ 9,485 $ ( 3,396 ) $ 6,089 Total intangible assets, net $ 9,485 $ ( 3,396 ) $ 6,089 Developed technology has a remaining useful life of 2.0 years. Amortization expense included in research and d evelopment expense was $ 0.8 million and $ 0.3 million for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, the expected future amortization expense for finite-lived intangible assets was as follows (in thousands): Period Ending March 31, Amount 2023 $ 3,127 2024 2,962 Total $ 6,089

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Payables And Accruals [Abstract]
Accrued Expenses	6. ACCRUED EXPENSES At March 31, 2022 and December 31, 2021, accrued expenses consisted of the following (in thousands): March 31, December 31, 2022 2021 Professional services $ 1,696 $ 2,313 Accrued compensation 3,685 2,295 Accrued clinical and manufacturing costs 1,071 906 Contribution payable 730 713 Other payables 45 3 Total accrued expenses $ 7,227 $ 6,230

Shareholders_ Equity

Shareholders’ Equity	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders’ Equity	7. SHAREHOLDERS’ EQUITY Pursuant to the terms of the Arrangement, the Company’s equity structure reflects the equity structure of Broadway (the accounting acquiree), including the equity interests Broadway issued to effect the combination. Accordingly, the equity structure of MindMed US (the accounting acquirer) is restated using the exchange ratio established in the Agreement to reflect the number of shares of Broadway (the accounting acquiree) issued in the reverse takeover. On February 27, 2020, all outstanding Class B common shares (“Class B Shares”), Class C common shares (“Class C Shares”) and Class D common shares (“Class D Shares”) of MindMed US were exchanged for Class A common shares of MindMed US (“Class A Shares”), immediately following which all Class A Shares were exchanged, on a one-for-one basis (the “Exchange Ratio”), for Subordinate Voting Shares or Multiple Voting Shares (in the case of Multiple Voting Shares the exchange was on a one-for-one-hundred basis) of the Resulting Issuer (“Resulting Issuer Shares”) on a post-Consolidation basis. Such Class A Shares were then cancelled pursuant to the Arrangement, and MindMed US issued 1,000 common shares to the Company as consideration for issuing the Resulting Issuer Shares to the former MindMed US shareholders. Subordinate Voting Shares The Company is authorized to issue an unlimited number of Subordinate Voting Shares, which have no par value. As of March 31, 2022, the Company had issued and outstanding 422,401,776 shares o f Subordinate Voting Shares. Voting Rights - The holders of Subordinate Voting Shares are entitled to one vote for each Subordinate Voting Share held. All holders of Subordinate Voting Shares are entitled to receive notice of any meeting of shareholders of the Company, and to attend, vote and speak at such meetings, except those meetings at which only holders of a specific class of shares are entitled to vote separately as a class under the Business Corporations Act (British Columbia). A quorum for the transaction of business at any meeting of shareholders is two persons present at the meeting, each of whom is entitled to vote at the meeting, and who hold or represent by proxy in the aggregate not less than 5 % of the outstanding shares of the Company entitled to vote at the meeting. Multiple Voting Shares The Company is authorized to issue an unlimited number of Multiple Voting Shares, which have no par value. As of March 31, 2022, the Company had no issued and outstanding Multiple Voting Shares. Subordinate Voting Shares and Multiple Voting Shares Issued 2022 Equity Transactions During the first quarter of 2022, holders of 4,521 Multiple Voting Shares exchanged their shares for 452,060 Subordinate Voting Shares.

Warrants

Warrants	3 Months Ended
	Mar. 31, 2022
Warrants And Rights Note Disclosure [Abstract]
Warrants	8. WARRANTS Bought Deal Compensation and Financing Warrants The below table represents the activity associated with the Company's outstanding equity classified Compensation and Financing warrants for the three months ended March 31, 2022: Compensation Warrants Financing Weighted Balance – December 31, 2021 1,888,350 20,651,580 4.24 Issued — — — Issued on exercise of compensation warrants — — — Exercised — ( 187,851 ) 0.79 Balance – March 31, 2022 1,888,350 20,463,729 4.27 The weighted average market fair value of shares purchased through warrant exercises during the three months ended March 31, 2022 was CAD$ 1.43 .

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based Compensation	9. STOCK-BASED COMPENSATION Stock Incentive Plan 2020 Plan On February 27, 2020, the Company adopted the MindMed Stock Option Plan (the “Plan”) to advance the interests of the Company by providing employees, contractors and directors of the Company a performance incentive for continued and improved service with the Company. The Plan sets out the framework for determining eligibility as well as the terms of any stock-based compensation granted. The plan was approved by the shareholders as part of the Arrangement and is authorized to issue 15 % of the Company's outstanding Subordinate Voting Shares under the terms of the plan. The fair value of options issued is estimated using the Black-Scholes-Merton option pricing model on the date of grant with the following assumptions: For the For the Share price $ 1.48 - 1.78 CAD $ 3.93 - 4.21 CAD Expected volatility 97.1 % - 97.5 % 91.8 % - 99.1 % Risk-free rate 1.79 % - 2.26 % 0.29 % - 0.34 % Expected life 3.5 - 3.6 years 3.0 - 3.5 years Expected dividend yield 0 % 0 % The following table summarizes the Company’s stock option activity: Number of Options Weighted Average Exercise Price (CAD$) Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options outstanding – December 31, 2021 23,093,044 $ 1.86 3.8 $ 13,610,348 Issued 8,364,320 1.53 Exercised ( 317,708 ) 0.49 365,677 Forfeited ( 183,478 ) 1.33 Expired ( 607,977 ) 2.84 Options outstanding – March 31, 2022 30,348,201 $ 1.77 4.1 $ 9,487,123 Options vested and exercisable at March 31, 2022 6,227,860 $ 1.51 4.0 $ 4,427,752 The weighted average grant date fair value of options granted during the three months ended March 31, 2022 was CAD$ 1.03 . The aggregated fair value of options vested during the three months ended March 31, 2022 was $ 3.8 million. The expense recognized related to options during the three months ended March 31, 2022 was $ 2.1 million. Restricted Share Units The Company has adopted a Performance and Restricted Share Unit (“RSU”) Plan to advance the interests of the Company by providing employees, contractors and directors of the Company a performance incentive for continued and improved service with the Company. The plan sets out the framework for determining eligibility as well as the terms of any stock-based compensation granted. The plan was approved by the shareholders as part of the Arrangement. The fair value has been estimated based on the closing price of the stock on the day prior to the grant. Number of RSUs Weighted Average Grant Date Fair Value Balance December 31, 2021 9,667,217 $ 3.00 Granted 6,004,120 1.57 Vested and unissued ( 1,577,437 ) 2.86 Cancelled ( 79,598 ) 2.06 Balance March 31, 2022 14,014,302 $ 2.41 The fair market value of RSUs vested during the three months ended March 31, 2022 was $ 1.9 million. The expense recognized related to RSUs during the three months ended March 31, 2022 was $ 1.7 million. Directors' Deferred Share Unit Plan 2021 Plan On April 16, 2021 the Company adopted the MindMed Director's Deferred Share Unit Plan (the "DDSU Plan"). The DDSU Plan sets out a framework to grant non-executive directors DDSU's which are cash settled awards. The DDSU Plan states that the fair market value of one DDSU shall be equal to the volume weighted average trading price of a Subordinate Voting Share on the NEO Exchange for the five business days immediately preceding the valuation date. The DDSU's generally vest ratably over twelve months after grant and are settled within 90 days of the date the director ceases service to the Company. Number of DDSUs Balance December 31, 2021 456,260 Issued — Settled — Cancelled — Balance March 31, 2022 456,260 For the three months ended March 31, 2022 a reversal of less than $ 0.1 million of stock-based compensation expense was recognized relating to the revaluation of the vested DDSUs, recorded in general and administrative expense in the accompanying condensed consolidated statements of operations and comprehensive loss. There were 441,041 DDSUs vested as of March 31, 2022. The liability associated with the outstanding vested DDSU's was $ 0.5 million as of March 31, 2022 and was recorded to accrued expenses in the accompanying condensed consolidated balance sheets. Stock-based Compensation Expense Stock-based compensation expense for all equity arrangements for the three months ended March 31, 2022 and 2021 was as follows (in thousands): Three Months Ended March 31, Three Months Ended March 31, 2022 2021 Research and development $ 2,005 $ 341 General and administrative 1,787 938 Total share-based compensation expense $ 3,792 $ 1,279 As of March 31, 2022, there was approximately $ 22.2 million of total unrecognized stock-based compensation expense, related to unvested options granted to employees under the Company’s stock option plan that is expected to be recognized over a weighted average period of 3.2 years. As of March 31, 2022, there was approximately $ 24.1 million of total unrecognized stock-based compensation expense, related to RSUs granted to employees under the Company’s stock option plan that is expected to be recognized over a weighted average period of 3.2 years.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	10. INCOME TAXES The Company’s effective tax rate was 0 % for the three months ended March 31, 2022 and 2021. The Company’s effective rate is primarily driven by its jurisdictional earnings by location and a valuation allowance that eliminates the Company’s global net deferred tax assets. The Company assesses the realizability of its deferred tax assets at each balance sheet date based on available positive and negative evidence in order to determine the amount which is more likely than not to be realized and records a valuation allowance as necessary.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. COMMITMENTS AND CONTINGENCIES As of March 31, 2022, the Company has obligations to make future payments, representing significant research and development contracts and other commitments that are known and committed in the amount of approximately $ 31.5 million. Most of these agreements are cancelable by the Company with notice. These commitments include agreements related to the conduct of the clinical trials, sponsored research, manufacturing and preclinical studies. The Company enters into research, development and license agreements in the ordinary course of business where the Company receives research services and rights to proprietary technologies. Milestone and royalty payments that may become due under various agreements are dependent on, among other factors, clinical trials, regulatory approvals and ultimately the successful development of a new drug, the outcome and timing of which are uncertain. The Company periodically enters into research and license agreements with third parties that include indemnification provisions customary in the industry. These guarantees generally require the Company to compensate the other party for certain damages and costs incurred as a result of claims arising from research and development activities undertaken by or on behalf of the Company. In some cases, the maximum potential amount of future payments that could be required under these indemnification provisions could be unlimited. These indemnification provisions generally survive termination of the underlying agreement. The nature of the indemnification obligations prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay. Historically, the Company has not made any indemnification payments under such agreements and no amount has been accrued in the condensed consolidated financial statements with respect to these indemnification obligations.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	12. RELATED PARTY TRANSACTIONS The Company had no related party expenses during the three months ended March 31, 2022. The Company incurred legal fees of $ 0.8 million to companies controlled by a former director of the Company during the three months ended March 31, 2021. As of March 31, 2022 and December 31, 2021, the Company had a nominal amount of accounts payable and accrued liabilities outstanding due to a company controlled by a former director.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and the related notes thereto for the year ended December 31, 2021, which are included in the Company’s Annual Report on Form 10-K filed with the SEC. The Company’s significant accounting policies are disclosed in the audited financial statements for the periods ended December 31, 2021 and 2020, included in the Company’s Annual Report on Form 10-K. Since the date of those financial statements, there have been no changes to its significant accounting policies, except as noted below. The accompanying condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and as amended by Accounting Standards Updates of the Financial Accounting Standards Board (“FASB”). The preparation of financial statements in conformity with U.S. GAAP requires management to make a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates under different assumptions or conditions. Intercompany balances and transactions, and any unrealized income and expenses arising from intercompany transactions, are eliminated in preparing the condensed consolidated financial statements.
Foreign Currency	Foreign Currency The Company’s reporting currency is the U.S. dollar. The Company's functional currency is the Canadian dollar (“CAD”). The local currency of the Company’s foreign affiliates is generally their functional currency. Accordingly, the assets and liabilities of the foreign affiliates and the parent entity, are translated from their respective functional currency to U.S. dollars using fiscal year-end exchange rates, income and expense accounts are translated at the average rates in effect during the fiscal year and equity accounts are translated at historical rates. Transactions denominated in currencies other than the functional currency are remeasured to the functional currency at the exchange rate on the transaction date. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured at period-end using the period-end exchange rate.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial position, results of operations, or cash flows upon adoption. In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. In July 2018, the FASB issued ASU 2018-11 to amend certain aspects of Topic 842. These amendments provide entities with an additional (and optional) transition method to adopt Topic 842. Under this transition method, an entity initially applies the transition requirements in Topic 842 at that Topic’s effective date with the effects of initially applying Topic 842 recognized as a cumulative effect adjustment to the opening balance of retained earnings (or other components of equity or net assets, as appropriate) in the period of adoption. On April 8, 2020, the FASB changed the effective date of this standard applicable to the Company as an emerging growth company to January 1, 2022 . The Company adopted this standard effective January 1, 2022 , the adoption had no impact on the consolidated financial statements.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and the fair value hierarchy of the valuation techniques utilized. March 31, 2022 Level 1 Level 2 Level 3 Total Financial liabilities: Directors' Deferred Share Unit Liability $ 490 $ — $ — $ 490 December 31, 2021 Level 1 Level 2 Level 3 Total Financial liabilities: Directors' Deferred Share Unit Liability $ 509 $ — $ — $ 509

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Carrying Value of Intangible Assets	The following table summarizes the carrying value of the Company's intangible assets (in thousands): March 31, 2022 Useful Lives Gross Carrying Accumulated Net Carrying Developed Technology 3 $ 9,485 $ ( 3,396 ) $ 6,089 Total intangible assets, net $ 9,485 $ ( 3,396 ) $ 6,089
Summary of Expected Future Amortization Expense for Finite-lived Intangible Assets	As of March 31, 2022, the expected future amortization expense for finite-lived intangible assets was as follows (in thousands): Period Ending March 31, Amount 2023 $ 3,127 2024 2,962 Total $ 6,089

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Payables And Accruals [Abstract]
Summary of Accrued Expenses	At March 31, 2022 and December 31, 2021, accrued expenses consisted of the following (in thousands): March 31, December 31, 2022 2021 Professional services $ 1,696 $ 2,313 Accrued compensation 3,685 2,295 Accrued clinical and manufacturing costs 1,071 906 Contribution payable 730 713 Other payables 45 3 Total accrued expenses $ 7,227 $ 6,230

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2022
Warrants And Rights Note Disclosure [Abstract]
Schedule of Warrants and Weighted Average Exercise Price	The below table represents the activity associated with the Company's outstanding equity classified Compensation and Financing warrants for the three months ended March 31, 2022: Compensation Warrants Financing Weighted Balance – December 31, 2021 1,888,350 20,651,580 4.24 Issued — — — Issued on exercise of compensation warrants — — — Exercised — ( 187,851 ) 0.79 Balance – March 31, 2022 1,888,350 20,463,729 4.27

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Fair Value Assumptions of Options	The fair value of options issued is estimated using the Black-Scholes-Merton option pricing model on the date of grant with the following assumptions: For the For the Share price $ 1.48 - 1.78 CAD $ 3.93 - 4.21 CAD Expected volatility 97.1 % - 97.5 % 91.8 % - 99.1 % Risk-free rate 1.79 % - 2.26 % 0.29 % - 0.34 % Expected life 3.5 - 3.6 years 3.0 - 3.5 years Expected dividend yield 0 % 0 %
Schedule of Stock Option Activity	The following table summarizes the Company’s stock option activity: Number of Options Weighted Average Exercise Price (CAD$) Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options outstanding – December 31, 2021 23,093,044 $ 1.86 3.8 $ 13,610,348 Issued 8,364,320 1.53 Exercised ( 317,708 ) 0.49 365,677 Forfeited ( 183,478 ) 1.33 Expired ( 607,977 ) 2.84 Options outstanding – March 31, 2022 30,348,201 $ 1.77 4.1 $ 9,487,123 Options vested and exercisable at March 31, 2022 6,227,860 $ 1.51 4.0 $ 4,427,752
Schedule of Restricted Share Units	The Company has adopted a Performance and Restricted Share Unit (“RSU”) Plan to advance the interests of the Company by providing employees, contractors and directors of the Company a performance incentive for continued and improved service with the Company. The plan sets out the framework for determining eligibility as well as the terms of any stock-based compensation granted. The plan was approved by the shareholders as part of the Arrangement. The fair value has been estimated based on the closing price of the stock on the day prior to the grant. Number of RSUs Weighted Average Grant Date Fair Value Balance December 31, 2021 9,667,217 $ 3.00 Granted 6,004,120 1.57 Vested and unissued ( 1,577,437 ) 2.86 Cancelled ( 79,598 ) 2.06 Balance March 31, 2022 14,014,302 $ 2.41
Schedule of Directors' Deferred Share Unit Plan	On April 16, 2021 the Company adopted the MindMed Director's Deferred Share Unit Plan (the "DDSU Plan"). The DDSU Plan sets out a framework to grant non-executive directors DDSU's which are cash settled awards. The DDSU Plan states that the fair market value of one DDSU shall be equal to the volume weighted average trading price of a Subordinate Voting Share on the NEO Exchange for the five business days immediately preceding the valuation date. The DDSU's generally vest ratably over twelve months after grant and are settled within 90 days of the date the director ceases service to the Company. Number of DDSUs Balance December 31, 2021 456,260 Issued — Settled — Cancelled — Balance March 31, 2022 456,260
Summary of Stock-based Compensation Expense	Stock-based compensation expense for all equity arrangements for the three months ended March 31, 2022 and 2021 was as follows (in thousands): Three Months Ended March 31, Three Months Ended March 31, 2022 2021 Research and development $ 2,005 $ 341 General and administrative 1,787 938 Total share-based compensation expense $ 3,792 $ 1,279

Description of the Business - A

Description of the Business - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (156,123)	$ (137,672)

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - ASU 2016-02	Mar. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2022
Change in accounting principle, accounting standards update, immaterial effect [true false]	true

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($)	Feb. 26, 2021	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 19,918,000	$ 19,918,000
HealthMode Acquisition
Business Acquisition [Line Items]
Business acquisition date	Feb. 26, 2021
Acquired percentage of issued and outstanding shares	100.00%
Consideration paid for acquisition	$ 27,600,000
Cash paid for acquisition	500,000
Multiple voting share paid for acquisition	27,000,000
Stock options paid for acquisition	$ 100,000
Number of stock options issued	33,619
Recognized identifiable finite-live intangible assets	$ 9,500,000
Goodwill	$ 19,900,000
Intangible assets, useful life	3 years
Business acquisition, goodwill expected tax deductible amount	$ 0
Business combination, acquisition costs	300,000
Adjustment to purchase price during measurement period	$ 0
HealthMode Acquisition | Multiple Voting Shares
Business Acquisition [Line Items]
Voting shares issued	81,497
HealthMode Acquisition | Subordinate Voting Shares
Business Acquisition [Line Items]
Voting shares issued	8,149,700

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring - Directors' Deferred Share Unit Liability - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	$ 490	$ 509
Level 1
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	$ 490	$ 509

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Assets measured at fair value on recurring basis	$ 0	$ 0
Fair value of asset transfers from Level 1 to Level 2	0	0
Fair value of asset transfers from Level 2 to Level 1	0	0
Fair value of liabilities transfers from Level 1 to Level 2	0	0
Fair value of liabilities transfers from Level 2 to Level 1	0	0
Fair value of assets transfers into Level 3	0	0
Fair value of assets transfers out of Level 3	0	0
Fair value of liabilities transfers into Level 3	0	0
Fair value of liabilities transfers out of Level 3	$ 0	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 19,918,000		$ 19,918,000
Goodwill acquired during period	0
Impairment charges of goodwill	0	$ 0
Amortization of Intangible Assets	780,000	260,000
Indication of impairment of goodwill and long-lived assets	$ 0	$ 0
Development Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets remaining useful life	2 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Summary of Carrying Value of Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Carrying Value	$ 9,485
Intangible assets, Accumulated Amortization	(3,396)
Intangible assets, Net Carrying Value	$ 6,089
Development Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Useful Lives (in years)	3 years
Intangible assets, Gross Carrying Value	$ 9,485
Intangible assets, Accumulated Amortization	(3,396)
Intangible assets, Net Carrying Value	$ 6,089

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Summary of Expected Future Amortization Expense for finite-lived intangible assets (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 3,127
2024	2,962
Intangible assets, Net Carrying Value	$ 6,089

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Payables And Accruals [Abstract]
Professional services	$ 1,696	$ 2,313
Accrued compensation	3,685	2,295
Accrued clinical and manufacturing costs	1,071	906
Contribution payable	730	713
Other payables	45	3
Total accrued expenses	$ 7,227	$ 6,230

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022Vote$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock conversion basis	Class A Shares were exchanged, on a one-for-one basis (the “Exchange Ratio”), for Subordinate Voting Shares or Multiple Voting Shares (in the case of Multiple Voting Shares the exchange was on a one-for-one-hundred basis) of the Resulting Issuer (“Resulting Issuer Shares”) on a post-Consolidation basis.
Former Shareholders
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares issued	1,000
Compensation Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants issued	0
Financing Warrants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Warrants issued	0
Subordinate Voting Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, no par value | $ / shares	$ 0
Number of shares issued and outstanding	422,401,776
Common stock, number of votes per share held | Vote	1
Subordinate Voting Shares | 2022 Equity Transactions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion of convertible shares	452,060
Subordinate Voting Shares | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of outstanding shares to be held to vote	5.00%
Multiple Voting Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, no par value | $ / shares	$ 0
Number of shares issued and outstanding	0
Multiple Voting Shares | 2022 Equity Transactions
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares issued	4,521

Warrants - Additional Informati

Warrants - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022$ / shares
Class Of Warrant Or Right [Line Items]
Weighted average fair value of shares purchased upon exercise of warrants	$ 1.43

Warrants - Schedule of Warrants

Warrants - Schedule of Warrants and Weighted Average Exercise Price (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Compensation Warrants
Class Of Warrant Or Right [Line Items]
Beginning balance, shares	1,888,350
Issued, shares	0
Issued on exercise of compensation warrants, shares	0
Exercised, shares	0
Ending balance, shares	1,888,350
Financing Warrants
Class Of Warrant Or Right [Line Items]
Beginning balance, shares	20,651,580
Issued, shares	0
Issued on exercise of compensation warrants, shares	0
Exercised, shares	(187,851)
Ending balance, shares	20,463,729
Compensation and Financing Warrants
Class Of Warrant Or Right [Line Items]
Beginning balance, weighted average exercise price | $ / shares	$ 4.24
Issued, weighted average exercise price | $ / shares	0
Issued on exercise of compensation warrants, weighted average exercise price | $ / shares	0
Exercised, weighted average exercise price | $ / shares	0.79
Ending balance, weighted average exercise price | $ / shares	$ 4.27

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) $ in Thousands	Feb. 27, 2020	Mar. 31, 2022USD ($)shares	Mar. 31, 2022USD ($)$ / shares	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value of options granted | $ / shares			$ 1.03
Aggregated fair value of options vested		$ 3,800
Stock-based compensation expense recognized		3,792		$ 1,279
Accrued expenses		7,227	$ 7,227		$ 6,230
Unrecognized stock-based compensation expense related to unvested options granted		$ 22,200	22,200
Weighted average period for recognition of unvested options granted		3 years 2 months 12 days
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		$ 1,787		$ 938
Restricted Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		1,700
Fair market value of vested shares		1,900
Unrecognized stock-based compensation expense related to unvested options granted		$ 24,100	24,100
Weighted average period for recognition of unvested options granted		3 years 2 months 12 days
Directors' Deferred Share Unit Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested | shares		441,041
Accrued expenses		$ 500	$ 500
Directors' Deferred Share Unit Plan | General and Administrative | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation reversal		100
Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		$ 2,100
MindMed Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	15.00%
Vesting rights, description		The plan was approved by the shareholders as part of the Arrangement and is authorized to issue 15% of the Company's outstanding Subordinate Voting Shares under the terms of the plan.

Stock-based compensation - Sche

Stock-based compensation - Schedule of Fair Value Assumptions of Options (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility, minimum	97.10%	91.80%
Expected volatility, maximum	97.50%	99.10%
Risk-free rate, minimum	1.79%	0.29%
Risk-free rate, maximum	2.26%	0.34%
Expected dividend yield	0.00%	0.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price	$ 1.48	$ 3.93
Expected life	3 years 6 months	3 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price	$ 1.78	$ 4.21
Expected life	3 years 7 months 6 days	3 years 6 months

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Stock Option Activity (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2022$ / shares	Mar. 31, 2022USD ($)shares	Dec. 31, 2021USD ($)shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of options, outstanding | shares		23,093,044
Number of options, issued | shares		8,364,320
Number of options, exercised | shares		(317,708)
Number of options, forfeited | shares		(183,478)
Number of options, expired | shares		(607,977)
Number of options, outstanding | shares		30,348,201	23,093,044
Number of options, vested and exercisable | shares		6,227,860
Weighted average exercise price, outstanding | $ / shares	$ 1.86
Weighted average exercise price, issued | $ / shares	1.53
Weighted average exercise price, exercised | $ / shares	0.49
Weighted average exercise price, forfeited | $ / shares	1.33
Weighted average exercise price, expired | $ / shares	2.84
Weighted average exercise price, outstanding | $ / shares	1.77
Weighted average exercise price, vested and exercisable | $ / shares	$ 1.51
Weighted average remaining contractual life (Years), outstanding		4 years 1 month 6 days	3 years 9 months 18 days
Weighted average remaining contractual life (Years), vested and exercisable		4 years
Aggregate intrinsic value, outstanding | $		$ 13,610,348
Aggregate intrinsic value, exercised | $		365,677
Aggregate intrinsic value, outstanding | $		9,487,123	$ 13,610,348
Aggregate intrinsic value, vested and exercisable | $		$ 4,427,752

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Restricted Share Units (Details) - Restricted Share Units	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, beginning balance | shares	9,667,217
Number of shares, granted | shares	6,004,120
Number of shares, vested and unissued | shares	(1,577,437)
Number of shares, cancelled | shares	(79,598)
Number of shares, ending balance | shares	14,014,302
Weighted average grant date fair value, beginning balance | $ / shares	$ 3
Weighted average grant date fair value, granted | $ / shares	1.57
Weighted average grant date fair value, vested and unissued | $ / shares	2.86
Weighted average grant date fair value, cancelled | $ / shares	2.06
Weighted average grant date fair value, ending balance | $ / shares	$ 2.41

Stock-based Compensation - Sc_4

Stock-based Compensation - Schedule of Directors' Deferred Share Unit Plan (Details) - Directors' Deferred Share Unit Plan	3 Months Ended
	Mar. 31, 2022shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, beginning balance	456,260
Number of shares, granted	0
Number of shares, settled	0
Number of shares, cancelled	0
Number of shares, ending balance	456,260

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 3,792	$ 1,279
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	2,005	341
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 1,787	$ 938

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Tax Credit Carryforward [Line Items]
Tax rate	0.00%	0.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Mar. 31, 2022USD ($)
Commitments And Contingencies Disclosure [Abstract]
Other commitment	$ 31.5

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Related party expenses	$ 0
Legal fees		$ 800,000