Mind Medicine (MNMD) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 25, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
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	Common Shares, no par value per share
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
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 Common Stock, Shares Outstanding		38,595,310

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 129,409	$ 142,142
Prepaid and other current assets	3,004	3,913
Total current assets	132,413	146,055
Goodwill	19,918	19,918
Intangible assets, net	2,898	3,689
Other non-current assets	300	331
Total assets	155,529	169,993
Current liabilities:
Accounts payable	2,320	2,111
Accrued expenses	6,687	5,877
2022 USD Financing Warrants	15,089	9,904
Total current liabilities	24,096	17,892
Other liabilities, long-term	1,089	1,184
Total liabilities	25,185	19,076
Commitments and contingencies (Note 9)
Shareholders' Equity:
Common shares, no par value, unlimited authorized as of March 31, 2023 and December 31, 2022; 38,290,111 and 37,979,136 issued and outstanding as of March 31, 2023 and December 31, 2022, respectively
Additional paid-in capital	348,986	344,758
Accumulated other comprehensive income	641	627
Accumulated Deficit	(219,283)	(194,468)
Total shareholders' equity	130,344	150,917	$ 136,805	$ 151,664
Total liabilities and shareholders' equity	$ 155,529	$ 169,993

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued	38,290,111	37,979,136
Common stock, shares outstanding	38,290,111	37,979,136

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating expenses:
Research and development	$ 12,599	$ 10,241
General and administrative	8,263	8,264
Total operating expenses	20,862	18,505
Loss from operations	(20,862)	(18,505)
Other income (expense):
Interest income/(expense), net	1,284	(27)
Foreign exchange (loss)/gain, net	(52)	45
Change in fair value of 2022 USD Financing Warrants	(5,185)
Other income		36
Total other income/(expense), net	(3,953)	54
Net loss	(24,815)	(18,451)
Other comprehensive loss:
Gain/(loss) on foreign currency translation	14	(49)
Comprehensive loss	$ (24,801)	$ (18,500)
Net loss per common share, basic	$ (0.65)	$ (0.66)
Net loss per common share, diluted	$ (0.65)	$ (0.66)
Weighted-average common shares, basic	38,077,251	28,147,499
Weighted-average common shares, diluted	38,077,251	28,147,499

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Common Stock Subordinate Voting	Additional Paid-In Capital	Accumulated OCI	Accumulated Deficit
Balance at Dec. 31, 2021	$ 151,664			$ 288,290	$ 1,046	$ (137,672)
Balance, Shares at Dec. 31, 2021			28,126,414
Exercise of warrants	118			118
Exercise of warrants, Shares			12,523
Exercise of stock options	123			123
Exercise of stock options, Shares			21,181
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			28,160,118
Balance at Dec. 31, 2022	150,917			344,758	627	(194,468)
Balance, Shares at Dec. 31, 2022			37,979,136
Issuance of common shares, net of share issuance costs	583			583
Issuance of common shares, net of share issuance costs, Shares		198,113
Vesting of restricted stock units		112,862
Stock-based compensation expense	3,645			3,645
Net loss and Comprehensive loss	(24,801)				14	(24,815)
Balance at Mar. 31, 2023	$ 130,344			$ 348,986	$ 641	$ (219,283)
Balance, Shares at Mar. 31, 2023			38,290,111

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net loss	$ (24,815)	$ (18,451)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	3,750	3,792
Amortization of intangible assets	791	780
Non-cash lease expense	14
Change in fair value of 2022 USD Financing Warrants	5,185
Changes in operating assets and liabilities:
Prepaid and other current assets	909	922
Other noncurrent assets	18
Accounts payable	209	(843)
Accrued expenses	703	994
Other liabilities, long-term	(95)	(60)
Net cash used in operating activities	(13,331)	(12,866)
Cash flows from financing activities
Proceeds from issuance of common shares, net of issuance costs	583
Proceeds from exercise of warrants		118
Proceeds from exercise of options		123
Withholding taxes paid on vested restricted stock units		(407)
Net cash provided by/(used in) financing activities	583	(166)
Effect of exchange rate changes on cash	15	(35)
Net decrease in cash and cash equivalents	(12,733)	(13,067)
Cash and cash equivalents, beginning of year	142,142	133,539
Cash and cash equivalents, end of year	$ 129,409	$ 120,472

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2023
Nature Of Operations [Abstract]
Description of the Business	1. DESCRIPTION OF THE BUSINESS Mind Medicine (MindMed) Inc. (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. MindMed US was incorporated on May 30, 2019. MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. 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 product candidates, with and without acute perceptual effects, targeting neurotransmitter pathways that play key roles in brain health disorders. This specifically includes pharmaceutically optimized product candidates derived from the psychedelic and empathogen drug classes, including MM-120 and MM-402, the Company’s lead product candidates. As of March 31, 2023, the Company had an accumulated deficit of $ 219.3 million. Through March 31, 2023, all the Company’s financial support has primarily been provided by proceeds from the issuance of Common Shares and warrants to purchase Common 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. 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 Financial Accounting Standards Board 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, 2023
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, 2022, which are included in the Company’s 2022 Annual Report on Form 10-K filed with the SEC on March 9, 2023 (the “2022 Annual Report”). The Company’s significant accounting policies are disclosed in the audited financial statements for the periods ended December 31, 2022 and 2021, included in the 2022 Annual Report. 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 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. The Company’s Board approved a reverse share split of the Company’s common shares, no par value per share (the “Common Shares”) on a 15-for-1 basis, which was effected on August 26, 2022 and which brought the bid price of the Company’s Common Shares above the minimum bid price requirement under the Nasdaq Listing Rules ("August Share Split"). No fractional Common Shares were issued as a result of the August Share Split. Each fractional Common Share remaining upon the August Share Split that was less than 1/2 of a Common Share was cancelled and each fractional Common Share that was at least 1/2 of a Common Share was changed to one whole Common Share. The August Share Split affected all Common Shares outstanding immediately prior to the effective time of the August Share Split, as well as the number of Common Shares available under the Company’s stock option plan and equity incentive plan. In addition, the August Share Split effected a reduction in the number of Common Shares issuable upon exercise of stock options, vesting of restricted share units and exercise of warrants outstanding immediately prior to the effectiveness of the August Share Split. All references to Common Shares, options to purchase Common Shares, share data, per share data, and related information in the accompanying unaudited condensed consolidated financial statements have been retrospectively adjusted to reflect the effect of the August Share Split for all periods presented. 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. Cash and Cash Equivalents The C ompany considers all investments with an original maturity date at the time of purchase of three months or less to be cash and cash equivalents. As of March 31, 2023, the Company’s cash equivalents consists of U.S. government money market funds at a high-credit quality and federally insured financial institution. The Company’s accounts, at times, may exceed federally insured limits. The Company had cash equivalents of $ 122.3 million as of March 31, 2023, and $ 131.7 million as of December 31, 2022. Recent Ac counting 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.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
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, 2023 and December 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. March 31, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents $ 122,262 $ — $ — $ 122,262 Financial liabilities: Directors' Deferred Share Unit Liability $ 229 $ — $ — $ 229 2022 USD Financing Warrant Liability $ — $ — $ 15,089 $ 15,089 December 31, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents $ 131,702 $ — $ — $ 131,702 Financial liabilities: Directors' Deferred Share Unit Liability $ 124 $ — $ — $ 124 2022 USD Financing Warrant Liability $ — $ — $ 9,904 $ 9,904 There were no transfers into or out of Level 1, Level 2, or Level 3 during the three months ended March 31, 2023 and the year ended December 31, 2022. The fair value of the warrant liability is measured at fair value on a recurring basis. The warrants to purchase 7,058,823 Common Shares issued in our underwritten public offering that closed on September 30, 2022 (the “2022 USD Financing Warrants”) are classified as Level 3 in the fair value hierarchy and are determined using the Black-Scholes option pricing model using the following assumptions: As of March 31, 2023 As of December 31, 2022 Share price $ 3.17 $ 2.20 Expected volatility 96.67 % 97.08 % Risk-free rate 3.59 % 3.94 % Expected life 4.50 years 4.75 years

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	4. GOODWILL AND INTANGIBLE ASSETS, NET Goodwill During the three months ended March 31, 2023, 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, 2023 and 2022. Intangible assets, net The following table summarizes the carrying value of the Company's intangible assets (in thousands): As of March 31, 2023 Useful Lives Gross Carrying Accumulated Net Carrying Developed technology 3 $ 9,485 $ ( 6,587 ) $ 2,898 Total intangible assets, net $ 9,485 $ ( 6,587 ) $ 2,898 As of December 31, 2022 Useful Lives Gross Carrying Accumulated Net Carrying Developed technology 3 $ 9,485 $ ( 5,796 ) $ 3,689 Total intangible assets, net $ 9,485 $ ( 5,796 ) $ 3,689 Developed technology has a remaining useful life of 0.9 years. Amortization expense included in research and development expense was $ 0.8 million for both the three m onths ended March 31, 2023 and 2022.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses	At March 31, 2023 and December 31, 2022, accrued expenses consisted of the following (in thousands): March 31, December 31, Accrued compensation $ 1,812 $ 3,198 Contribution payable 1,703 1,566 Accrued clinical and manufacturing costs 1,602 605 Professional services 1,406 436 Other payables 92 — Lease liabilities 72 72 Total accrued expenses $ 6,687 $ 5,877

Shareholders_ Equity

Shareholders’ Equity	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Shareholders’ Equity	6. SHAREHOLDERS' EQUITY Common Shares The Company is authorized to issue an unlimited number of Common Shares, which have no par value. As of March 31, 2023, the Company had issued and outstanding 38,290,111 Common Shares. At-The-Market Facility The Company may issue and sell Common Shares for an aggregate offering price of up to $ 100.0 million under an at-the-market offering program (the “ATM”). Pursuant to the ATM, the Company will pay the Sales Agents a commission rate equal to 3.0 % of the gross proceeds from the sale of any Common Shares. The Company is not obligated to make any sales of its Common Shares under the ATM. During the three months ended March 31, 2023, the Company sold 198,113 Common Shares for net proceeds of $ 0.6 million under the ATM. As of March 31, 2023, the Company may issue and sell Common Shares for an aggregate offering price of up to $ 67.3 million under the ATM.

Warrants

Warrants	3 Months Ended
	Mar. 31, 2023
Warrants and Rights Note Disclosure [Abstract]
Warrants	Bought Deal Compensation and Financing Warrants There was no activity associated with the Company's outstanding equity classified compensation and financing warrants for the three months ended March 31, 2023. 2022 USD Financing Warrants On September 30, 2022, the Company closed an underwritten public offering of 7,058,823 Common Shares and accompanying 2022 USD Financing Warrants to purchase 7,058,823 Common Shares. Each 2022 USD Financing Warrant is immediately exercis able for one Common Share at an initial exercise price of $ 4.25 per Common Share, subject to certain adjustments and will expire on September 30, 2027 . There was no activity associated with the Company's outstanding liability classified 2022 USD Financing Warrants for the three months ended March 31, 2023. The 2022 USD Fin ancing Warrants are liability classified due to being denominated in USD and not the Company's functional currency. Accordingly, the 2022 USD Financing Warrants are recognized at fair value upon issuance and are adjusted to fair value at the end of each reporting period. Any change in fair value is recognized on the condensed consolidated statements of operations and comprehensive loss. Three Months Ended March 31, 2023 Balance at December 31, 2022 $ 9,904 Change in fair value of the warrant liability 5,185 Balance at March 31, 2023 $ 15,089

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock Incentive Plan Effective March 13, 2023, the Company filed Form S-8 to amend the definition of "Market Value" under both the MindMed Stock Option Plan and the Performance and Restricted Share Unit Plan to be based upon the closing price of the Company's stock as traded on the Nasdaq Stock Exchange. This change is only applicable for equity compensation awards granted subsequent to the filing of the Form S-8. Accordingly, stock options granted after March 13, 2023 ("USD options") are denominated in USD, and the grant date fair value of restricted share units granted after March 13, 2023 ("USD RSUs") are denominated in USD. The fair value of both USD options and USD RSUs is based upon the closing price of the Company's stock as traded on the Nasdaq Stock Exchange. 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 terms of an arrangement agreement (the “Arrangement”) entered into by the Company on October 15, 2019 in connection with the completion of its reverse acquisition, which completed on February 27, 2020 (the “Transaction”) and is authorized to issue 15 % of the Company’s outstanding Common Shares under the terms of the Plan. The following table summarizes the Company’s stock option activity (excluding 63,600 USD options granted with an exercise price of $ 2.98 ): Number of Options Weighted Average Exercise Price (CAD$) Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options outstanding at December 31, 2022 2,190,315 $ 24.29 4.1 $ 4,484 Issued — — — — Exercised — — — — Forfeited — — — — Expired ( 56,498 ) 16.52 — — Options outstanding at March 31, 2023 2,133,817 $ 24.50 4.0 $ 32,154 Options vested and exercisable at March 31, 2023 843,973 $ 26.43 3.1 $ 4,000 The expense recognized related to options during the three months ended March 31, 2023 was $ 1.7 million. Restricted Share Units The Company has adopted a Performance and Restricted Share Unit 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 Common Shares on the day prior to the grant. (CAD$) (USD$) Number of RSUs Number of RSUs Weighted Average Grant Date Fair Value Number of RSUs Weighted Average Grant Date Fair Value Balance at December 31, 2022 1,522,792 1,522,792 $ 17.75 — — Granted 1,048,930 — — 1,048,930 3.03 Vested and unissued ( 118,844 ) ( 118,844 ) 24.00 — — Cancelled — — — — — Balance at March 31, 2023 2,452,878 1,403,948 $ 17.22 1,048,930 $ 3.03 The expense recognized related to restricted share units ("RSUs") during the three months ended March 31, 2023 was $ 2.0 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 Common 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. For the three months ended March 31, 2023 stock-based compensation expense of a nominal amount 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 wer e 99,260 D DSUs vested as of March 31, 2023. The liability associated with the outstanding vested DDSU’s w as $ 0.2 millio n as of March 31, 2023 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, 2023 and 2022 was as follows (in thousands): Three Months Ended March 31, 2023 2022 Research and development $ 1,809 $ 2,005 General and administrative 1,941 1,787 Total share-based compensation expense $ 3,750 $ 3,792 As of March 31, 2023, there was approximately $ 14.3 million of total unrecognized stock-based compensation expense, related to unvested options granted to employees under the Company’s incentive plan that is expected to be recognized over a weighted average period of 2.4 years for CAD options, and 3.8 years for USD options. As of March 31, 2023, there was approximately $ 20.0 million of total unrecognized stock-based compensation expense, related to RSUs granted to employees under the Company’s incentive plan that is expected to be recognized over a weighted average period of 2.5 years for CAD RSUs, and 4.0 years for USD RSUs.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	As of March 31, 2023, 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 approxima tely $ 33.6 mi llion. 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.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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, 2022, which are included in the Company’s 2022 Annual Report on Form 10-K filed with the SEC on March 9, 2023 (the “2022 Annual Report”). The Company’s significant accounting policies are disclosed in the audited financial statements for the periods ended December 31, 2022 and 2021, included in the 2022 Annual Report. 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 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. The Company’s Board approved a reverse share split of the Company’s common shares, no par value per share (the “Common Shares”) on a 15-for-1 basis, which was effected on August 26, 2022 and which brought the bid price of the Company’s Common Shares above the minimum bid price requirement under the Nasdaq Listing Rules ("August Share Split"). No fractional Common Shares were issued as a result of the August Share Split. Each fractional Common Share remaining upon the August Share Split that was less than 1/2 of a Common Share was cancelled and each fractional Common Share that was at least 1/2 of a Common Share was changed to one whole Common Share. The August Share Split affected all Common Shares outstanding immediately prior to the effective time of the August Share Split, as well as the number of Common Shares available under the Company’s stock option plan and equity incentive plan. In addition, the August Share Split effected a reduction in the number of Common Shares issuable upon exercise of stock options, vesting of restricted share units and exercise of warrants outstanding immediately prior to the effectiveness of the August Share Split. All references to Common Shares, options to purchase Common Shares, share data, per share data, and related information in the accompanying unaudited condensed consolidated financial statements have been retrospectively adjusted to reflect the effect of the August Share Split for all periods presented.
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. Cash and Cash Equivalents The C ompany considers all investments with an original maturity date at the time of purchase of three months or less to be cash and cash equivalents. As of March 31, 2023, the Company’s cash equivalents consists of U.S. government money market funds at a high-credit quality and federally insured financial institution. The Company’s accounts, at times, may exceed federally insured limits. The Company had cash equivalents of $ 122.3 million as of March 31, 2023, and $ 131.7 million as of December 31, 2022.
Cash and Cash Equivalents	Cash and Cash Equivalents The C ompany considers all investments with an original maturity date at the time of purchase of three months or less to be cash and cash equivalents. As of March 31, 2023, the Company’s cash equivalents consists of U.S. government money market funds at a high-credit quality and federally insured financial institution. The Company’s accounts, at times, may exceed federally insured limits. The Company had cash equivalents of $ 122.3 million as of March 31, 2023, and $ 131.7 million as of December 31, 2022.
Recent Accounting Pronouncements	Recent Ac counting 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.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and December 31, 2022, and the fair value hierarchy of the valuation techniques utilized. March 31, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents $ 122,262 $ — $ — $ 122,262 Financial liabilities: Directors' Deferred Share Unit Liability $ 229 $ — $ — $ 229 2022 USD Financing Warrant Liability $ — $ — $ 15,089 $ 15,089 December 31, 2022 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents $ 131,702 $ — $ — $ 131,702 Financial liabilities: Directors' Deferred Share Unit Liability $ 124 $ — $ — $ 124 2022 USD Financing Warrant Liability $ — $ — $ 9,904 $ 9,904
Schedule of Assumptions used to Determine Fair Value of 2022 USD Financing Warrants	The fair value of the warrant liability is measured at fair value on a recurring basis. The warrants to purchase 7,058,823 Common Shares issued in our underwritten public offering that closed on September 30, 2022 (the “2022 USD Financing Warrants”) are classified as Level 3 in the fair value hierarchy and are determined using the Black-Scholes option pricing model using the following assumptions: As of March 31, 2023 As of December 31, 2022 Share price $ 3.17 $ 2.20 Expected volatility 96.67 % 97.08 % Risk-free rate 3.59 % 3.94 % Expected life 4.50 years 4.75 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2023
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): As of March 31, 2023 Useful Lives Gross Carrying Accumulated Net Carrying Developed technology 3 $ 9,485 $ ( 6,587 ) $ 2,898 Total intangible assets, net $ 9,485 $ ( 6,587 ) $ 2,898 As of December 31, 2022 Useful Lives Gross Carrying Accumulated Net Carrying Developed technology 3 $ 9,485 $ ( 5,796 ) $ 3,689 Total intangible assets, net $ 9,485 $ ( 5,796 ) $ 3,689

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	At March 31, 2023 and December 31, 2022, accrued expenses consisted of the following (in thousands): March 31, December 31, Accrued compensation $ 1,812 $ 3,198 Contribution payable 1,703 1,566 Accrued clinical and manufacturing costs 1,602 605 Professional services 1,406 436 Other payables 92 — Lease liabilities 72 72 Total accrued expenses $ 6,687 $ 5,877

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2023
Warrants and Rights Note Disclosure [Abstract]
Schedule of Warrants Liability	Any change in fair value is recognized on the condensed consolidated statements of operations and comprehensive loss. Three Months Ended March 31, 2023 Balance at December 31, 2022 $ 9,904 Change in fair value of the warrant liability 5,185 Balance at March 31, 2023 $ 15,089

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes the Company’s stock option activity (excluding 63,600 USD options granted with an exercise price of $ 2.98 ): Number of Options Weighted Average Exercise Price (CAD$) Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Options outstanding at December 31, 2022 2,190,315 $ 24.29 4.1 $ 4,484 Issued — — — — Exercised — — — — Forfeited — — — — Expired ( 56,498 ) 16.52 — — Options outstanding at March 31, 2023 2,133,817 $ 24.50 4.0 $ 32,154 Options vested and exercisable at March 31, 2023 843,973 $ 26.43 3.1 $ 4,000
Schedule of Restricted Share Units	The Company has adopted a Performance and Restricted Share Unit 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 Common Shares on the day prior to the grant. (CAD$) (USD$) Number of RSUs Number of RSUs Weighted Average Grant Date Fair Value Number of RSUs Weighted Average Grant Date Fair Value Balance at December 31, 2022 1,522,792 1,522,792 $ 17.75 — — Granted 1,048,930 — — 1,048,930 3.03 Vested and unissued ( 118,844 ) ( 118,844 ) 24.00 — — Cancelled — — — — — Balance at March 31, 2023 2,452,878 1,403,948 $ 17.22 1,048,930 $ 3.03
Summary of Stock-based Compensation Expense	Stock-based compensation expense for all equity arrangements for the three months ended March 31, 2023 and 2022 was as follows (in thousands): Three Months Ended March 31, 2023 2022 Research and development $ 1,809 $ 2,005 General and administrative 1,941 1,787 Total share-based compensation expense $ 3,750 $ 3,792

Description of the Business - A

Description of the Business - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (219,283)	$ (194,468)

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash equivalents	$ 122.3	$ 131.7
Common Stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reverse stock split description	The Company’s Board approved a reverse share split of the Company’s common shares, no par value per share (the “Common Shares”) on a 15-for-1 basis, which was effected on August 26, 2022
Common Stock | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock split conversion ratio	50
Common Stock | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock split conversion ratio	50

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 19,918	$ 19,918

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial Assets, Fair Value Disclosure [Abstract]
Cash equivalents	$ 122,262	$ 131,702
Directors' Deferred Share Unit Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	229	124
2022 USD Financing Warrant Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	15,089	9,904
Level 1
Financial Assets, Fair Value Disclosure [Abstract]
Cash equivalents	122,262	131,702
Level 1 | Directors' Deferred Share Unit Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	229	124
Level 3 | 2022 USD Financing Warrant Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	$ 15,089	$ 9,904

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
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
Common stock, shares issued	38,290,111	37,979,136
2022 USD Financing Warrant Liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Common stock, shares issued			7,058,823

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Assumptions used to Determine Fair Value of 2022 USD Financing Warrants (Details) - Level 3 - 2022 USD Financing Warrant Liability - Recurring	Mar. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants, Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueOptionPricingModelMember	us-gaap:ValuationTechniqueOptionPricingModelMember
Share price
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	3.17	2.20
Expected volatility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	96.67	97.08
Risk-free Rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	3.59	3.94
Expected life
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Expected life	4 years 6 months	4 years 9 months

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
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	791,000	780,000
Indication of impairment of goodwill and long-lived assets	$ 0	$ 0
Development Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets remaining useful life	10 months 24 days

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Summary of Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Carrying Value	$ 9,485	$ 9,485
Intangible assets, Accumulated Amortization	(6,587)	(5,796)
Intangible assets, Net Carrying Value	$ 2,898	$ 3,689
Development Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Useful Lives (in years)	3 years	3 years
Intangible assets, Gross Carrying Value	$ 9,485	$ 9,485
Intangible assets, Accumulated Amortization	(6,587)	(5,796)
Intangible assets, Net Carrying Value	$ 2,898	$ 3,689

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued compensation	$ 1,812	$ 3,198
Contribution payable	1,703	1,566
Accrued clinical and manufacturing costs	1,602	605
Professional services	1,406	436
Other payables	92
Lease liabilities	72	72
Total accrued expenses	$ 6,687	$ 5,877

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, no par value	$ 0
Number of shares issued and outstanding	38,290,111
Net proceeds from common stock	$ 583
Common stock, shares issued	38,290,111	37,979,136
Common stock, shares outstanding	38,290,111	37,979,136
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock issued during period	198,113
At The Market Offering Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale of securities aggregate public offering price	$ 67,300
Percentage Of Gross Proceeds Sale Of Common Shares Payable As Sales Agents Commission Rate	3%
Net proceeds from common stock	$ 600
Common stock, shares issued	198,113
Maximum | At The Market Offering Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Sale of securities aggregate public offering price	$ 100,000

Warrants - Additional Informati

Warrants - Additional Information (Details) - $ / shares	Sep. 30, 2022	Mar. 31, 2023	Dec. 31, 2022
Class Of Warrant Or Right [Line Items]
Common stock, shares issued		38,290,111	37,979,136
Common share and warrant public offering expire date	Sep. 30, 2027
Underwritten Public Offering
Class Of Warrant Or Right [Line Items]
Common stock, shares issued	7,058,823
2022 USD Financing Warrant Liability
Class Of Warrant Or Right [Line Items]
Common stock, shares issued	7,058,823
Common Share and Warrant Public Offering
Class Of Warrant Or Right [Line Items]
Common shares at an initial excercise price	$ 4.25

Warrants - Schedule of Warrants

Warrants - Schedule of Warrants Liability (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Class Of Warrant Or Right [Line Items]
Change in fair value of the warrant liability	$ 5,185
2022 USD Financing Warrant Liability
Class Of Warrant Or Right [Line Items]
Balance at December 31, 2022	9,904
Change in fair value of the warrant liability	5,185
Balance at March 31, 2023	$ 15,089

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Feb. 27, 2020	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average exercise price, issued		$ 2.98
Number of shares, vested		99,260
Stock-based compensation expense recognized		$ 3,750	$ 3,792
Accrued expenses		6,687		$ 5,877
Unrecognized stock-based compensation expense related to unvested options granted		$ 14,300
CAD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period for recognition of unvested options granted		2 years 4 months 24 days
USD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted		63,600
Weighted average period for recognition of unvested options granted		3 years 9 months 18 days
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		$ 1,941	$ 1,787
Restricted Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted		1,048,930
Stock-based compensation expense recognized		$ 2,000
Unrecognized stock-based compensation expense related to unvested options granted		$ 20,000
Restricted Share Units | CAD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period for recognition of unvested options granted		2 years 6 months
Restricted Share Units | USD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted		1,048,930
Weighted average period for recognition of unvested options granted		4 years
Directors' Deferred Share Unit Plan | General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accrued expenses		$ 200
Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		$ 1,700
MindMed Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	15%
Vesting rights, description			The Plan was approved by the shareholders as part of the terms of an arrangement agreement (the “Arrangement”) entered into by the Company on October 15, 2019 in connection with the completion of its reverse acquisition, which completed on February 27, 2020 (the “Transaction”) and is authorized to issue 15% of the Company’s outstanding Common Shares under the terms of the Plan.

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023 $ / shares	Mar. 31, 2023 CAD ($) $ / shares shares	Dec. 31, 2022 CAD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of options, outstanding | shares		2,190,315
Number of options, expired | shares		(56,498)
Number of options, outstanding | shares		2,133,817	2,190,315
Number of options, vested and exercisable | shares		843,973
Weighted average exercise price, outstanding | $ / shares		$ 24.29
Weighted average exercise price, issued | $ / shares	$ 2.98
Weighted average exercise price, expired | $ / shares	16.52
Weighted average exercise price, outstanding | (per share)	24.50		$ 24.29
Weighted average exercise price, vested and exercisable | $ / shares	$ 26.43
Weighted average remaining contractual life (Years), outstanding		4 years	4 years 1 month 6 days
Weighted average remaining contractual life (Years), vested and exercisable		3 years 1 month 6 days
Aggregate intrinsic value, outstanding | $		$ 4,484
Aggregate intrinsic value, outstanding | $		32,154	$ 4,484
Aggregate intrinsic value, vested and exercisable | $		$ 4,000

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Restricted Share Units (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares	Mar. 31, 2023 $ / shares shares
USD
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, granted	63,600	63,600
Restricted Share Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, beginning balance	1,522,792	1,522,792
Number of shares, granted	1,048,930	1,048,930
Number of shares, vested and unissued	(118,844)	(118,844)
Number of shares, ending balance	2,452,878	2,452,878
Restricted Share Units | CAD
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, beginning balance	1,522,792	1,522,792
Number of shares, vested and unissued	(118,844)	(118,844)
Number of shares, ending balance	1,403,948	1,403,948
Weighted average grant date fair value, beginning balance | $ / shares	$ 17.75
Weighted average grant date fair value, vested and unissued | $ / shares	24
Weighted average grant date fair value, ending balance | $ / shares	$ 17.22
Restricted Share Units | USD
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, granted	1,048,930	1,048,930
Number of shares, ending balance	1,048,930	1,048,930
Weighted average grant date fair value, granted | $ / shares		$ 3.03
Weighted average grant date fair value, ending balance | $ / shares		$ 3.03

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 3,750	$ 3,792
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	1,809	2,005
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 1,941	$ 1,787

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other commitment	$ 33.6