Mind Medicine (MindMed) Inc. Q3 2026 Earnings Recap

Definium shares fell 2.1% after the earnings call, a roughly flat reaction. The update included positive Phase 3 findings and regulatory progress, but the next major MDD readout remains ahead: ASCEND top-line data are expected in 2027.

Key Takeaways

• In VOYAGE, a single 100-microgram dose produced a 5.4-point placebo-adjusted improvement on the HAM-A at week 12 (p<0.0001); the 214-participant study met its primary and all key secondary endpoints.
• In PANORAMA, the same dose produced a 5.1-point placebo-adjusted HAM-A improvement at week 12 (p<0.0001); the 245-participant study also met its primary and all key secondary endpoints.
• Management said DT-120 was generally well tolerated in the completed double-blind phases of three studies, with no drug-related serious adverse events or suicidality signal; dosing sessions averaged about six hours.
• The company is targeting an NDA filing in the first half of 2027. ASCEND, its second Phase 3 MDD study, is enrolling, with top-line data expected in 2027.
• DT-120 has received two FDA breakthrough therapy designations, for GAD and MDD; the company also reported encouraging initial DT-402 signals in an open-label Phase 2a study in adults with autism spectrum disorder.