MindMed (OTCQB:MMEDF) released its full-year 2020 financial results.
The company posted a net and comprehensive loss of $35.1 million for the year ended Dec. 31, 2020. Its total assets at the end of the reporting period were $85.6 million, counting $80.1 million in cash.
The company used $24.2 million of net cash in operating activities in 2020.
Its cash balance as of Tuesday last week hovered at $161 million. The company plans to use the money to improve its portfolio and develop its technology sector.
On Monday, MindMed also revealed the results of a study on personalized MDMA dosing, conducted in conjunction with the Liechti Lab at the University Hospital Basel, in Switzerland.