Mind Medicine (MNMD) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 24, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
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		39,716,868

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 116,895	$ 142,142
Prepaid and other current assets	2,896	3,913
Total current assets	119,791	146,055
Goodwill	19,918	19,918
Intangible assets, net	2,108	3,689
Other non-current assets	268	331
Total assets	142,085	169,993
Current liabilities:
Accounts payable	8,577	2,111
Accrued expenses	9,950	5,877
2022 USD Financing Warrants	16,594	9,904
Total current liabilities	35,121	17,892
Other liabilities, long-term	992	1,184
Total liabilities	36,113	19,076
Shareholders' Equity:
Additional paid-in capital	354,023	344,758
Accumulated other comprehensive income	362	627
Accumulated Deficit	(248,413)	(194,468)
Total shareholders' equity	105,972	150,917
Total liabilities and shareholders' equity	$ 142,085	$ 169,993

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued	38,807,159	37,979,136
Common stock, shares outstanding	38,807,159	37,979,136

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating expenses:
Research and development	$ 14,777	$ 9,326	$ 27,375	$ 19,567
General and administrative	14,407	7,617	22,670	15,881
Total operating expenses	29,184	16,943	50,045	35,448
Loss from operations	(29,184)	(16,943)	(50,045)	(35,448)
Other income/(expense):
Interest income, net	1,311	82	2,595	83
Foreign exchange gain/(loss), net	247	(89)	195	(44)
Change in fair value of 2022 USD Financing Warrants	(1,504)		(6,690)
Other income/(expense)		(7)		1
Total other income/(expense), net	54	(14)	(3,900)	40
Net loss	(29,130)	(16,957)	(53,945)	(35,408)
Other comprehensive loss
Loss on foreign currency translation	(279)	(147)	(265)	(196)
Comprehensive loss	$ (29,409)	$ (17,104)	$ (54,210)	$ (35,604)
Net loss per common share, basic	$ (0.76)	$ (0.6)	$ (1.41)	$ (1.26)
Net loss per common share, diluted	$ (0.76)	$ (0.6)	$ (1.41)	$ (1.26)
Weighted-average common shares, basic	38,576,394	28,242,026	38,329,919	28,196,789
Weighted-average common shares, diluted	38,576,394	28,242,026	38,329,919	28,196,789

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Shares	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	708		708
Exercise of warrants, Shares		76,021
Exercise of stock options	164		164
Exercise of stock options, Shares		29,514
Settlement of restricted share unit awards		213,999
Withholding taxes paid on vested restricted share units	(407)		(407)
Stock-based compensation expense	7,979		7,979
Net loss and Comprehensive loss	(35,604)			(196)	(35,408)
Balance at Jun. 30, 2022	124,504		296,734	850	(173,080)
Balance, Shares at Jun. 30, 2022		28,445,948
Balance at Mar. 31, 2022	136,805		291,931	997	(156,123)
Balance, Shares at Mar. 31, 2022		28,160,118
Exercise of warrants	590		590
Exercise of warrants, Shares		63,498
Exercise of stock options	41		41
Exercise of stock options, Shares		8,333
Settlement of restricted share unit awards		213,999
Stock-based compensation expense	4,172		4,172
Net loss and Comprehensive loss	(17,104)			(147)	(16,957)
Balance at Jun. 30, 2022	124,504		296,734	850	(173,080)
Balance, Shares at Jun. 30, 2022		28,445,948
Balance at Dec. 31, 2022	150,917		344,758	627	(194,468)
Balance, Shares at Dec. 31, 2022		37,979,136
Vesting of restricted share units		226,125
Issuance of common shares, net of share issuance costs	1,857		1,857
Issuance of common shares, net of share issuance costs, Shares		601,898
Stock-based compensation expense	7,408		7,408
Net loss and Comprehensive loss	(54,210)			(265)	(53,945)
Balance at Jun. 30, 2023	105,972		354,023	362	(248,413)
Balance, Shares at Jun. 30, 2023		38,807,159
Balance at Mar. 31, 2023	130,344		348,986	641	(219,283)
Balance, Shares at Mar. 31, 2023		38,290,111
Vesting of restricted share units		113,263
Issuance of common shares, net of share issuance costs	1,274		1,274
Issuance of common shares, net of share issuance costs, Shares		403,785
Stock-based compensation expense	3,763		3,763
Net loss and Comprehensive loss	(29,409)			(279)	(29,130)
Balance at Jun. 30, 2023	$ 105,972		$ 354,023	$ 362	$ (248,413)
Balance, Shares at Jun. 30, 2023		38,807,159

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net loss		$ (53,945)	$ (35,408)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	$ 3,842	7,592	8,045
Amortization of intangible assets	800	1,581	1,600
Unrealized foreign exchange gain		(337)
Non-cash lease expense		28	17
Change in fair value of 2022 USD Financing Warrants	1,504	6,690
Changes in operating assets and liabilities:
Prepaid and other current assets		1,017	541
Other noncurrent assets		35
Accounts payable		6,466	(3,429)
Accrued expenses		3,889	792
Other liabilities, long-term		(192)	(151)
Net cash used in operating activities		(27,176)	(27,993)
Cash flows from financing activities
Proceeds from issuance of share capital, net of issuance costs		1,857
Proceeds from exercise of warrants			708
Proceeds from exercise of options			123
Withholding taxes paid on vested restricted share units			(407)
Net cash provided by financing activities		1,857	424
Effect of exchange rate changes on cash		72	(229)
Net (decrease) increase in cash		(25,247)	(27,798)
Cash, beginning of period		142,142	133,539
Cash, end of period	$ 116,895	$ 116,895	$ 105,741

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 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 June 30, 2023, the Company had an accumulated deficit of $ 248.4 million. Through June 30, 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 initial public 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	6 Months Ended
	Jun. 30, 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. 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 of Directors 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 ("2022 Share Split"). No fractional Common Shares were issued as a result of the 2022 Share Split. Each fractional Common Share remaining upon the 2022 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 2022 Share Split affected all Common Shares outstanding immediately prior to the effective time of the 2022 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 2022 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 2022 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 2022 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 Company 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 June 30, 2023, the Company’s cash equivalents consisted 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 $ 110.7 million as of June 30, 2023, and $ 131.7 million as of December 31, 2022. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by 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	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	3. 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 June 30, 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. June 30, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents $ 110,650 $ — $ — $ 110,650 Financial liabilities: Directors' Deferred Share Unit Liability $ 308 $ — $ — $ 308 2022 USD Financing Warrant Liability $ — $ — $ 16,594 $ 16,594 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 The Company evaluates transfers between fair value levels at the end of each reporting period. There were no transfers into or out of Level 1, Level 2, or Level 3 during the six months ended June 3 0 , 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 June 30, 2023 As of December 31, 2022 Share price $ 3.57 $ 2.20 Expected volatility 92.18 % 97.08 % Risk-free rate 4.18 % 3.94 % Expected life 4.25 years 4.75 years

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	4. GOODWILL AND INTANGIBLE ASSETS, NET Goodwill During the six months ended June 30, 2023, the Company 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 and six months ended June 30, 2023 and 2022. Intangible assets, net The following table summarizes the carrying value of the Company's intangible assets (in thousands): As of June 30, 2023 Useful Lives Gross Carrying Accumulated Net Carrying Developed technology 3 $ 9,485 $ ( 7,377 ) $ 2,108 Total intangible assets, net $ 9,485 $ ( 7,377 ) $ 2,108 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 As of June 30, 2023, developed technology has a remaining useful life of 0.7 years. Amortization expense included in research and development expense was $ 0.8 million for both the three months ended June 30, 2023 and 2022, and $ 1.6 million for both the six months ended June 30, 2023 and 2022.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	5. ACCRUED EXPENSES At June 30, 2023 and December 31, 2022, accrued expenses consisted of the following (in thousands): June 30, December 31, Accrued clinical and manufacturing costs $ 3,258 $ 605 Accrued compensation 2,818 3,198 Professional services 1,868 436 Contribution payable 1,841 1,566 Other payables 90 — Lease liabilities 75 72 Total accrued expenses $ 9,950 $ 5,877 As of June 30, 2023, the Company included $ 1.0 million within accrued clinical and manufacturing costs as a component of accrued expenses in relation to a licensing agreement with Catalent. According to the agreement, Catalent granted to the Company an exclusive license to use their Zydis technology in the development of MM-120. Under the agreement, the Company is wholly responsible for development and commercialization of licensed products. Pursuant to the agreement, the Company will be obligated to make payments to Catalent upon the achievement of future milestones and a single digit royalty upon commercialization.

Shareholders_ Equity

Shareholders’ Equity	6 Months Ended
	Jun. 30, 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 June 30, 2023, the Company had issued and outstanding 38,807,159 Common Shares. At-The-Market Facility The Company may issue and sell Common Shares 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 and six months ended June 30, 2023, the Company sold 403,785 and 601,898 Common Shares for net proceeds of $ 1.3 million and $ 1.9 million under the ATM, respectively. As of June 30, 2023, the Company had raised an aggregate of $ 34.0 million under the ATM and may raise up to an additional $ 66.0 million.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2023
Warrants and Rights Note Disclosure [Abstract]
Warrants	7. WARRANTS Bought Deal Compensation and Financing Warrants There was no activity associated with the Company's outstanding equity classified as bought-deal compensation and financing warrants for the six months ended June 30, 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 exercisable 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 as 2022 USD Financing Warrants for the six months ended June 30, 2023. The 2022 USD Financing 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 repor ting period. Any change in fair value is recognized on the condensed consolidated statements of operations and comprehensive loss. The Company recognized a loss relating to the change in fair value of the warrant liability of $ 1.5 million and $ 6.7 million for the three months and six months ended June 30, 2023, respectively. As of June 30, 2023 Balance at December 31, 2022 $ 9,904 Change in fair value of the warrant liability 6,690 Balance at June 30, 2023 $ 16,594

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	8. STOCK-BASED COMPENSATION Stock Incentive Plan Effective March 7, 2023, the Company amended the definition of "Market Value" under both the MindMed Stock Option Plan (the “Plan”) and the Performance and Restricted Share Unit Plan (the “RSU Plan”) to be based upon the closing price of the Company's Common Shares as traded on the Nasdaq Stock Market (the “Amendments”). This change is only applicable for equity compensation awards granted subsequent to the Amendments. Accordingly, stock options granted after March 7, 2023 ("USD options") are denominated in USD, and the grant date fair value of restricted share units granted after March 7, 2023 ("USD RSUs") is denominated in USD. The fair value of both USD options and USD RSUs is based upon the closing price of the Company's Common Shares as traded on the Nasdaq Stock Exchange. 2020 Plan On February 27, 2020, the Company adopted 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”). The Company 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 178,006 USD options granted with an average exercise price of $ 3.38 ): 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 ( 10,137 ) $ 25.43 — — Expired ( 56,496 ) $ 16.51 — — Options outstanding at June 30, 2023 2,123,682 $ 24.49 3.7 $ 43,161 Options vested and exercisable at June 30, 2023 1,042,480 $ 25.43 3.1 $ 4,398 The expense recognized related to options was $ 1.6 million and $ 1.9 million for the three months ended June 30, 2023 and 2022, respectively, and $ 3.3 m illion and $ 4.0 million for the six months ended June 30, 2023 and 2022, respectively . Restricted Share Units The Company adopted the 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 RSU Plan sets out the framework for determining eligibility as well as the terms of any stock-based compensation granted. The RSU 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 1,522,793 1,522,793 $ 17.75 — — Granted 1,454,965 — — 1,454,965 $ 3.12 Vested and unissued ( 345,224 ) ( 282,726 ) $ 20.84 ( 62,498 ) $ 3.03 Cancelled ( 14,174 ) ( 14,174 ) $ 16.94 — — Balance at June 30, 2023 2,618,360 1,225,893 $ 17.04 1,392,467 $ 3.12 The expense recognized related to restricted share units was $ 2.1 million and $ 2.3 million for the three months ended June 30, 2023 and 2022, respectively, and $ 4.1 m illion and $ 3.9 million for the six months ended June 30, 2023 and 2022, respectively . 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. Effective June 8, 2023, the Company amended the definition of “Fair Market Value” under the Company’s Directors’ Deferred Share Unit Plan to be based upon the closing price of the Company’s Common Shares as traded on the Nasdaq Stock Market. This change is only applicable for Directors Deferred Share Units (“DDSUs”) granted subsequent to June 8, 2023. Accordingly, DDSUs granted after June 8, 2023 are denominated in USD. 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 Nasdaq Stock Market 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 and six months ended June 30, 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 were 61,558 DDSUs vested as of June 30, 2023. The liability associated with the outstanding vested DDSU’s wa s $ 0.3 million as of June 30, 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 and six months ended June 30, 2023 and 2022 was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 1,769 $ 1,779 $ 3,579 $ 3,784 General and administrative 2,073 2,474 4,013 4,261 Total share-based compensation expense $ 3,842 $ 4,253 $ 7,592 $ 8,045 As of June 30, 2023, there was approxi mately $ 12.8 million of total unrecognized stock-based compensation expense, related to unvested options granted to employees under the Plan that is expected to be recognized over a weighted average period of 2.2 years for both CAD options and USD options. As of June 30, 2023, there was approximately $ 19.1 million of total unrecognized stock-based compensation expense, related to restricted share units granted to employees under the RSU Plan that is expected to be recognized over a weighted average period of 2.2 years for CAD RSUs, and 3.6 years for USD RSUs.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. COMMITMENTS AND CONTINGENCIES As of June 30, 2023, the Company had obligations to make future payments, representing significant research and development contracts and other commitments that are known and committed in the amount of approximately $ 37.9 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.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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. 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 of Directors 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 ("2022 Share Split"). No fractional Common Shares were issued as a result of the 2022 Share Split. Each fractional Common Share remaining upon the 2022 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 2022 Share Split affected all Common Shares outstanding immediately prior to the effective time of the 2022 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 2022 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 2022 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 2022 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	Cash and Cash Equivalents The Company 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 June 30, 2023, the Company’s cash equivalents consisted 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 $ 110.7 million as of June 30, 2023, and $ 131.7 million as of December 31, 2022.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by 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)	6 Months Ended
	Jun. 30, 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 June 30, 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. June 30, 2023 Level 1 Level 2 Level 3 Total Financial assets: Cash equivalents $ 110,650 $ — $ — $ 110,650 Financial liabilities: Directors' Deferred Share Unit Liability $ 308 $ — $ — $ 308 2022 USD Financing Warrant Liability $ — $ — $ 16,594 $ 16,594 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 June 30, 2023 As of December 31, 2022 Share price $ 3.57 $ 2.20 Expected volatility 92.18 % 97.08 % Risk-free rate 4.18 % 3.94 % Expected life 4.25 years 4.75 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2023 Useful Lives Gross Carrying Accumulated Net Carrying Developed technology 3 $ 9,485 $ ( 7,377 ) $ 2,108 Total intangible assets, net $ 9,485 $ ( 7,377 ) $ 2,108 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)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	At June 30, 2023 and December 31, 2022, accrued expenses consisted of the following (in thousands): June 30, December 31, Accrued clinical and manufacturing costs $ 3,258 $ 605 Accrued compensation 2,818 3,198 Professional services 1,868 436 Contribution payable 1,841 1,566 Other payables 90 — Lease liabilities 75 72 Total accrued expenses $ 9,950 $ 5,877 As of June 30, 2023, the Company included $ 1.0 million within accrued clinical and manufacturing costs as a component of accrued expenses in relation to a licensing agreement with Catalent. According to the agreement, Catalent granted to the Company an exclusive license to use their Zydis technology in the development of MM-120. Under the agreement, the Company is wholly responsible for development and commercialization of licensed products. Pursuant to the agreement, the Company will be obligated to make payments to Catalent upon the achievement of future milestones and a single digit royalty upon commercialization.

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 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. The Company recognized a loss relating to the change in fair value of the warrant liability of $ 1.5 million and $ 6.7 million for the three months and six months ended June 30, 2023, respectively. As of June 30, 2023 Balance at December 31, 2022 $ 9,904 Change in fair value of the warrant liability 6,690 Balance at June 30, 2023 $ 16,594

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	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 ( 10,137 ) $ 25.43 — — Expired ( 56,496 ) $ 16.51 — — Options outstanding at June 30, 2023 2,123,682 $ 24.49 3.7 $ 43,161 Options vested and exercisable at June 30, 2023 1,042,480 $ 25.43 3.1 $ 4,398
Schedule of Restricted Share Units	The Company adopted the 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 RSU Plan sets out the framework for determining eligibility as well as the terms of any stock-based compensation granted. The RSU 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 1,522,793 1,522,793 $ 17.75 — — Granted 1,454,965 — — 1,454,965 $ 3.12 Vested and unissued ( 345,224 ) ( 282,726 ) $ 20.84 ( 62,498 ) $ 3.03 Cancelled ( 14,174 ) ( 14,174 ) $ 16.94 — — Balance at June 30, 2023 2,618,360 1,225,893 $ 17.04 1,392,467 $ 3.12 The expense recognized related to restricted share units was $ 2.1 million and $ 2.3 million for the three months ended June 30, 2023 and 2022, respectively, and $ 4.1 m illion and $ 3.9 million for the six months ended June 30, 2023 and 2022, respectively .
Summary of Stock-based Compensation Expense	Stock-based compensation expense for all equity arrangements for the three and six months ended June 30, 2023 and 2022 was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Research and development $ 1,769 $ 1,779 $ 3,579 $ 3,784 General and administrative 2,073 2,474 4,013 4,261 Total share-based compensation expense $ 3,842 $ 4,253 $ 7,592 $ 8,045

Description of the Business - A

Description of the Business - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated Deficit	$ (248,413)	$ (194,468)

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash equivalents	$ 110.7	$ 131.7

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 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	Jun. 30, 2023	Dec. 31, 2022
Financial Assets, Fair Value Disclosure [Abstract]
Cash equivalents	$ 110,650	$ 131,702
Directors' Deferred Share Unit Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	308	124
2022 USD Financing Warrant Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	16,594	9,904
Level 1
Financial Assets, Fair Value Disclosure [Abstract]
Cash equivalents	110,650	131,702
Level 1 | Directors' Deferred Share Unit Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	308	124
Level 3 | 2022 USD Financing Warrant Liability
Financial Liabilities Fair Value Disclosure [Abstract]
Financial liabilities	$ 16,594	$ 9,904

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Assumptions used to Determine Fair Value of 2022 USD Financing Warrants (Details)	Jun. 30, 2023 $ / shares	Dec. 31, 2022 $ / shares
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warrants and Rights Outstanding, Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueOptionPricingModelMember	us-gaap:ValuationTechniqueOptionPricingModelMember
Share price | 2022 USD Financing Warrant Liability | Level 3 | Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	3.57	2.2
Expected volatility | 2022 USD Financing Warrant Liability | Level 3 | Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	92.18	97.08
Risk-free rate | 2022 USD Financing Warrant Liability | Level 3 | Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	4.18	3.94
Expected life | 2022 USD Financing Warrant Liability | Level 3 | Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Expected life	4 years 3 months	4 years 9 months

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Common Stock, Shares, Issued	38,807,159	37,979,136
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
2022 USD Financing Warrant Liability
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Common Stock, Shares, Issued			7,058,823

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill acquired during period			$ 0
Impairment charges of goodwill	$ 0	$ 0	0	$ 0
Amortization of Intangible Assets	800,000	800,000	1,581,000	1,600,000	$ 1,600,000
Indication of impairment of goodwill and long-lived assets	$ 0	$ 0	$ 0	$ 0
Development Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets remaining useful life	8 months 12 days		8 months 12 days

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Summary of Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, Gross Carrying Value	$ 9,485	$ 9,485
Intangible assets, Accumulated Amortization	(7,377)	(5,796)
Intangible assets, Net Carrying Value	$ 2,108	$ 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	(7,377)	(5,796)
Intangible assets, Net Carrying Value	$ 2,108	$ 3,689

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Summary of Expected Future Amortization Expense for finite-lived intangible assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, Net Carrying Value	$ 2,108	$ 3,689

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued clinical and manufacturing costs	$ 3,258	$ 605
Accrued compensation	2,818	3,198
Professional services	1,868	436
Contribution payable	1,841	1,566
Other payables	90
Lease liabilities	75	72
Total accrued expenses	$ 9,950	$ 5,877

Accrued Expenses - Additional I

Accrued Expenses - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accrued clinical and manufacturing costs	$ 3,258	$ 605
Licensing Agreement | Catalent
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accrued clinical and manufacturing costs	$ 1,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, no par value	$ 0	$ 0
Number of shares issued and outstanding	38,807,159	38,807,159
Common stock, shares issued	38,807,159	38,807,159	37,979,136
Proceeds from issuance of share capital, net of issuance costs		$ 1,857
At The Market Offering Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common shares, net of share issuance costs, Shares	403,785	601,898
Proceeds from issuance of share capital, net of issuance costs	$ 1,300	$ 1,900
Sale of securities aggregate public offering price		$ 34,000
Percentage of gross proceeds from sales of common shares payable as sales agent commission rate		3%
Common Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common shares, net of share issuance costs, Shares	403,785	601,898
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, additional amount	$ 66,000	$ 66,000

Warrants - Additional Informati

Warrants - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended
	Sep. 30, 2022	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Common Stock, Shares, Issued		38,807,159	38,807,159	37,979,136
Common share and warrant public offering expire date	Sep. 30, 2027
Change in fair value of the warrant liability		$ 1,504	$ 6,690
2022 USD Financing Warrant Liability
Class of Warrant or Right [Line Items]
Common Stock, Shares, Issued	7,058,823
Change in fair value of the warrant liability		$ 1,500	$ 6,690
Common Share And Warrant Public Offering
Class of Warrant or Right [Line Items]
Common shares at an initial excercise price	$ 4.25
Underwritten Public Offering
Class of Warrant or Right [Line Items]
Common Stock, Shares, Issued	7,058,823

Warrants - Schedule of Warrants

Warrants - Schedule of Warrants Liability (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Class of Warrant or Right [Line Items]
Change in fair value of the warrant liability	$ 1,504	$ 6,690
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	1,500	6,690
Balance at June 30, 2023	$ 16,594	$ 16,594

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Feb. 27, 2020	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, vested				61,558
Stock-based compensation expense recognized		$ 3,842,000	$ 4,253,000	$ 7,592,000	$ 8,045,000	$ 8,045,000
Accrued expenses		9,950,000		9,950,000			$ 5,877,000
Unrecognized stock-based compensation expense related to unvested options granted		12,800,000		$ 12,800,000
USD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted				178,006
Weighted average period for recognition of unvested options granted				2 years 2 months 12 days
CAD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average period for recognition of unvested options granted				2 years 2 months 12 days
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		2,073,000	2,474,000	$ 4,013,000	4,261,000
Restricted Share Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted				1,454,965
Stock-based compensation expense recognized		2,100,000	2,300,000	$ 4,100,000	3,900,000
Unrecognized stock-based compensation expense related to unvested options granted		19,100,000		$ 19,100,000
Restricted Share Units | USD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, granted				1,454,965
Weighted average period for recognition of unvested options granted				3 years 7 months 6 days
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 2 months 12 days
Directors' Deferred Share Unit Plan | General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accrued expenses		300		$ 300
Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense recognized		$ 1,600,000	$ 1,900,000	$ 3,300,000	$ 4,000,000
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”). The Company 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	6 Months Ended		12 Months Ended
	Jun. 30, 2023 $ / shares $ / shares	Jun. 30, 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, forfeited | shares		(10,137)
Number of options, expired | shares		(56,496)
Number of options, outstanding | shares		2,123,682	2,190,315
Number of options, vested and exercisable | shares		1,042,480
Weighted average exercise price, outstanding		$ 24.29
Weighted average exercise price, issued	$ 3.38
Weighted average exercise price, forfeited		25.43
Weighted average exercise price, expired		16.51
Weighted average exercise price, outstanding		24.49	$ 24.29
Weighted average exercise price, vested and exercisable	$ 25.43	$ 25.43
Weighted average remaining contractual life (Years), outstanding		3 years 8 months 12 days	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 | $		43,161	$ 4,484
Aggregate intrinsic value, vested and exercisable | $		$ 4,398

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Restricted Share Units (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
USD
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, granted	178,006
Restricted Share Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, beginning balance	1,522,793
Number of shares, granted	1,454,965
Number of shares, vested and unissued	(345,224)
Number of shares, cancelled	(14,174)
Number of shares, ending balance	2,618,360
Restricted Share Units | CAD
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, beginning balance	1,522,793
Number of shares, vested and unissued	(282,726)
Number of shares, cancelled	(14,174)
Number of shares, ending balance	1,225,893
Weighted average grant date fair value, beginning balance | $ / shares	$ 17.75
Weighted average grant date fair value, vested and unissued | $ / shares	20.84
Weighted average grant date fair value, cancelled | $ / shares	16.94
Weighted average grant date fair value, ending balance | $ / shares	$ 17.04
Restricted Share Units | USD
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, granted	1,454,965
Number of shares, vested and unissued	(62,498)
Number of shares, ending balance	1,392,467
Weighted average grant date fair value, granted | $ / shares	$ 3.12
Weighted average grant date fair value, vested and unissued | $ / shares	3.03
Weighted average grant date fair value, ending balance | $ / shares	$ 3.12

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 3,842	$ 4,253	$ 7,592	$ 8,045	$ 8,045
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	1,769	1,779	3,579	3,784
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 2,073	$ 2,474	$ 4,013	$ 4,261

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Other Commitment	$ 37.9