MindMed Announces the Addition of Stanford University Neuroscientist as Chair of the Scientific Advisory Board

- Mind Medicine (MindMed) Inc. ("MindMed" or the "Company") (NEO: MMED), (OTCQB: MMEDF), (DE: MMQ), a leading psychedelic medicine biotech company, has announced the addition of Dr. Robert C. Malenka an accomplished neuroscientist and psychiatry professor from Stanford University to Chair the Company's Scientific Advisory Board.

Dr. Malenka is an elected member of the National Academy of Sciences and the National Academy of Medicine as well as an elected fellow of the American Academy of Arts and Sciences, the American Association for the Advancement of Science, and the American College of Neuropsychopharmacology. He has served on the National Advisory Council on Drug Abuse and as a Counselor for the Society for Neuroscience and the American College of Neuropsychopharmacology. He is well known for his landmark contributions to understanding of brain plasticity mechanisms, and has extensive experience as an advisor to various pharmaceutical and biotechnology companies.

MindMed CEO J.R. Rahn said: "Dr. Malenka has tremendous knowledge and wisdom across several critical fields in which MindMed operates. We are honored to have him join MindMed as Chair of the Scientific Advisory Board. The entire MindMed team is elated to learn and receive guidance from an industry veteran who has guided several pharmaceutical and biotechnology companies throughout their growth and development. As the MindMed team progresses toward achieving MindMed's goal of providing innovative new potential treatments to the mental health and addiction patient populations, we look forward to Dr. Malenka's input and guidance."

Dr. Robert Malenka added: "I am very excited to join the MindMed team and to help bring creative, sophisticated and rigorous scientific approaches to advancing MindMed's mission of developing new, more efficacious treatments to potentially improve the mental health of the large segments of the population in need. There are incredible opportunities to leverage the use of previously demonized drugs as therapies and combine them with other treatment modalities to potentially achieve more rapid, more effective and longer-lasting reductions in symptoms that often destroy lives and families. New approaches for improving mental health are desperately needed, and I look forward to working with MindMed on such approaches."

MindMed's Scientific Advisory Board is composed of a diverse group of members with expertise in psychiatry, neuroscience, and clinical development. Such Board leverages decades of deep knowledge in biotechnology and psychiatry to help guide MindMe d's development programs. Members represent institutions such as Johns Hopkins , NYU Langone Health, Duke University , NIH, Stanford University , and Albany Medical College.

Dr. Robert C. Malenka Bio :

Dr. Robert C. Malenka is the Pritzker Professor of Psychiatry and Behavioral Sciences, Director of the Nancy Pritzker Laboratory and Deputy Director of the Wu Tsai Neurosciences Institute. After graduating from Harvard College he received an M.D. and a Ph.D. in neuroscience in 1983 from Stanford University School of Medicine. Over the ensuing 6 years, he completed residency training in psychiatry at Stanford and 4 years of postdoctoral research at the University of California, San Francisco (UCSF). In 1989, he was appointed Assistant Professor of Psychiatry and Physiology at UCSF, at which he reached the rank of Full Professor in 1996. In addition to running an active research program at UCSF he was the Director of the Center for the Neurobiology of Addiction and Associate Director of the Center for Neurobiology and Psychiatry. He returned to the Stanford University School of Medicine in 1999. He is an elected member of the National Academy of Sciences and the National Academy of Medicine as well as an elected fellow of the American Academy of Arts and Sciences, the American Association for the Advancement of Science, and the American College of Neuropsychopharmacology. He has served on the National Advisory Council on Drug Abuse and as a Counselor for the Society for Neuroscience and the American College of Neuropsychopharmacology. He is on the scientific advisory boards of numerous non-profit foundations and biotechnology companies. He has been the recipient of numerous awards including: the Society for Neuroscience Young Investigator Award (1993); the Daniel Efron Award from the American College of Neuropsychopharmacolgoy (1998); the Kemali Foundation International Prize in Neuroscience (2000); the CINP-Lilly Neuroscience Basic Research Award (2002), the Perl/UNC Neuroscience Prize (2006), the NARSAD Goldman-Rakic Prize for Outstanding Neuroscience Research (2010), the Pasarow Foundation Award for Extraordinary Accomplishment in Neuropsychiatry Research (2011), and the Society for Neuroscience Julius Axelrod Prize (2016). His laboratory continues to conduct research on the molecular mechanisms of neural plasticity as well as the role of circuit dysfunction in brain disorders including addiction, autism, obsessive compulsive disorder and depression.

About MindMed

MindMed is a psychedelic medicine biotech company that seeks to discover, develop and deploy psychedelic inspired medicines and therapies to address addiction and mental illness. The company is assembling a drug development pipeline of innovative treatments based on psychedelic substances including Psilocybin, LSD, MDMA, DMT and an Ibogaine derivative, 18-MC. The MindMed executive team brings extensive biopharmaceutical experience to the company's groundbreaking approach to developing the next-generation of psychedelic inspired medicines and therapies.

MindMed trades on the Canadian exchange NEO under the symbol MMED . MindMed is also traded in the United States on the OTCQB under the symbol MMEDF , and in Germany under the symbol MMQ . For more information: www.mindmed.co

MindMed Forward-Looking Statements

This press release includes forward-looking statements under applicable securities laws. Such forward-looking statements involve risks and uncertainties relating to future events, results and the performance of MindMed, and actual events, results and the performance of MindMed may differ materially from these forward-looking statements. Words such as "will," "may," "anticipate," "expect," "intend," "plan," "believe," "seek," "estimate," "potential" and variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include, but are not limited to, statements related to the potential for psychedelic inspired medicines and therapies to achieve more rapid, more effective and longer-lasting reductions in symptoms in the mental health and addiction patient populations. These forward-looking statements involve known and unknown risks and uncertainties, and those risks and uncertainties include, among others, MindMed's and its collaborators' ability to continue to conduct research and progress their preclinical, study and clinical trial programs; the nature, enrollment, timing, results and possible success and therapeutic applications of its products and product candidates and research and preclinical, study and clinical trial programs now underway or planned; and the likelihood, timing, and scope of possible regulatory approval and commercial launch of any product candidates and new indications for any products. Any forward-looking statements are made based on management's current beliefs and judgment, and MindMed does not undertake any obligation to update publicly any forward-looking statement.s Investors are cautioned not to rely on these forward-looking statements and are encouraged to read MindMed's continuous disclosure documents, including, but not limited to, its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR at www.sedar.com .

Media Contact: mindmed@150bond.com

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SOURCE Mind Medicine (MindMed) Inc.

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Mind Medicine AQN:MMED MMEDF Psychedelics Investing

Seelos Therapeutics Announces 1-for-8 Reverse Stock Split

Seelos Therapeutics, Inc. (Nasdaq: SEEL) ("Seelos" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that its Board of Directors approved a 1-for-8 reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m. Eastern Time on Thursday May 16, 2024.

The Company's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on Thursday, May 16, 2024 . Following the reverse stock split, the Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "SEEL" with the new CUSIP number, 81577F307. The reverse stock split is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market.

At the effective time of the reverse split, every 8 issued and outstanding shares of the Company's common stock will be converted automatically into one share of the Company's common stock without any change in the par value per share. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. The reverse stock split will reduce the number of authorized shares of the Company's common stock from 400,000,000 shares to 50,000,000 shares and the ownership percentage of each stockholder will remain unchanged other than as a result of fractional shares. In addition, the reverse stock split will apply to the Company's common stock issuable upon the exercise of the Company's outstanding warrants and stock options, with proportionate adjustments to be made to the exercise prices thereof and under the Company's equity incentive plans, as applicable.

The reverse stock split will reduce the number of issued and outstanding shares of the Company's common stock from approximately 17.4 million to approximately 2.2 million.

About Seelos Therapeutics:

Seelos Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and advancement of novel therapeutics to address unmet medical needs for the benefit of patients with central nervous system (CNS) disorders and other rare diseases. The Company's robust portfolio includes several late-stage clinical assets targeting indications including Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD), amyotrophic lateral sclerosis (ALS) and spinocerebellar ataxia (SCA), as well as early-stage programs in Huntington's disease, Alzheimer's disease, and Parkinson's disease.

Forward-Looking Statements:

Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements include, among others, those regarding the reverse stock split and the timing thereof, the potential impact of the reverse split on the bid price of the Company's common stock, the potential for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market and the expected number of shares of common stock to be outstanding following the reverse stock split. These statements are based on our current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties involved include those associated with general economic and market conditions, as well as other risk factors and matters set forth in our periodic filings with the SEC, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q . Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

Anthony Marciano
Chief Communications Officer
Seelos Therapeutics, Inc. (Nasdaq: SEEL)
300 Park Avenue, 2 ^nd Floor
New York, NY 10022
(646) 293-2136
anthony.marciano@seelostx.com

Mike Moyer
Managing Director
LifeSci Advisors, LLC
250 West 55th St., Suite 3401
New York, NY 10019
(617) 308-4306
mmoyer@lifesciadvisors.com

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SOURCE Seelos Therapeutics, Inc.

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Compass Pathways Announces First Quarter 2024 Financial Results and Business Highlights

COMP360 phase 3 pivotal program in treatment-resistant depression (TRD) on track for top-line COMP005 trial data in fourth quarter 2024, COMP006 trial top-line data expected mid-2025
Compass announces positive phase 2 COMP360 data in post-traumatic stress disorder (PTSD)
Michael Gold to join Compass as Head of R&D
Compass enters into additional commercial collaborations, including with Reliant Medical Group, part of Optum Care
Cash position of $262.9 million at March 31, 2024
Conference call May 8 at 8:00 am ET (1:00 pm UK)

Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, today reported its financial results for the first quarter 2024 and provided an update on recent business progress.

Kabir Nath, Chief Executive Officer, said, "We were pleased to see the positive results from the phase 2 PTSD study, a condition with significant unmet need and limited therapeutic options for the people who live with it. PTSD is a logical extension for COMP360 psilocybin treatment as there is significant overlap in patients living with treatment-resistant depression and PTSD. These strong data enable us to explore the optimal path forward to advance clinical development in PTSD alongside our phase 3 pivotal program in TRD, which is on track for initial data this year. We also continue to prepare for commercialization of COMP360 in TRD if approved by the FDA and have established collaborations with important mental health providers in the US to investigate models for the delivery of COMP360 psilocybin treatment at scale in diverse care settings."

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Compass Pathways announces durable improvement in symptoms through 12 weeks in open-label phase 2 study of COMP360 psilocybin in post-traumatic stress disorder

Study met primary safety endpoint; administration was well tolerated, with no serious adverse events observed
Early and clinically meaningful improvement from baseline in mean CAPS-5 total score (29.5 point reduction at week 12), with change from baseline in mean SDS total score (14.4 point reduction at week 12)
81.8% response (reduction of ≥ 15 points in CAPS-5 score), 63.6% remission (total CAPS-5 ≤ 20) rates at week 4 with 77.3% response and 54.5% remission at week 12
Measures of symptom scores relative to baseline improved following a single 25mg dose administered with psychological support (n=22)

Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today announced top-line results from an open-label phase 2 study evaluating the safety and tolerability of investigational COMP360 psilocybin treatment in 22 patients with post-traumatic stress disorder (PTSD). The study met its primary safety endpoint and available secondary efficacy endpoints. Study observations included meaningful and sustained symptom improvement from baseline in mean CAPS-5 total score, a measure of disease severity, and in Sheehan Disability Scale (SDS) score, a measure of functional impairment in daily life. Administration of COMP360 was well-tolerated, with a safety profile consistent with previous studies.

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	March 31,		December 31,
	2024		2023
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	262,888	$	220,198
Restricted cash	389		440
Prepaid income tax	1,123		1,123
Prepaid expenses and other current assets	31,115		39,535
Total current assets	295,515		261,296
NON-CURRENT ASSETS:
Operating lease right-of-use assets	3,722		4,306
Deferred tax assets	3,659		3,336
Long-term prepaid expenses and other assets	6,097		7,049
Total assets	$	308,993	$	275,987
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	9,342	$	5,892
Accrued expenses and other liabilities	7,680		11,301
Operating lease liabilities - current	2,380		2,411
Total current liabilities	19,402		19,604
NON-CURRENT LIABILITIES
Long-term debt	29,090		28,757
Operating lease liabilities - non-current	1,339		1,882
Total liabilities	49,831		50,243
SHAREHOLDERS' EQUITY:
Ordinary shares, £0.008 par value; 68,342,534 and 61,943,471 shares authorized, issued and outstanding at March 31, 2024 and December 31, 2023, respectively	699		635
Additional paid-in capital	690,222		621,645
Accumulated other comprehensive loss	(16,962)		(16,926)
Accumulated deficit	(414,797)		(379,610)
Total shareholders' equity	259,162		225,744
Total liabilities and shareholders' equity	$	308,993	$	275,987

	Three months ended March 31,
	2024		2023
OPERATING EXPENSES:
Research and development	$	24,901	$	19,035
General and administrative	13,672		12,753
Total operating expenses	38,573		31,788
Loss from operations	(38,573)		(31,788)
OTHER INCOME, NET:
Other income, net	2,388		709
Interest expense	(1,098)		—
Foreign exchange (losses) gains	(783)		2,685
Benefit from R&D tax credit	3,101		4,316
Total other income, net	3,608		7,710
Loss before income taxes	(34,965)		(24,078)
Corporate income tax expense	(222)		(130)
Net loss	$	(35,187)	$	(24,208)

Net loss per share attributable to ordinary shareholders—basic and diluted	$	(0.55)	$	(0.57)
Weighted average ordinary shares outstanding—basic and diluted	64,222,178		42,725,863

Net loss	$	(35,187)	$	(24,208)
Other comprehensive loss:
Foreign exchange translation adjustment	(36)		(578)
Comprehensive loss	$	(35,223)	$	(24,786)

MindMed Announces the Addition of Stanford University Neuroscientist as Chair of the Scientific Advisory Board

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