MindMed has seen significant positive momentum and 2023 is a pivotal period for the Company, with two key clinical readouts on our primary drug candidates expected later this year.
Our Board’s six highly qualified nominees have the right mix of experience and expertise to oversee the execution of MindMed’s strategy and position the Company for sustained value creation.
FCM is waging a proxy contest to take control of the Company despite only owning a small percentage of our outstanding shares and failing to provide any realistic strategic plan for MindMed.
FCM’s candidates lack the experience to be additive to our Board and, if elected, would put MindMed’s strategy and shareholders’ investments at serious risk and cause permanent value destruction.
Recent clinical trial milestones demonstrate MindMed’s momentum across its R&D pipeline, with two key clinical readouts anticipated later this year.
Our slate of directors represents a 100% refreshment of the Board since Robert Barrow became interim CEO in June 2021.
Our Board has the necessary drug development and commercialization; financial management and capital allocation; and corporate governance and compliance experience to oversee MindMed’s strategy.
The ideas FCM has raised demonstrate an ignorance of the FDA drug approval process applicable to major market psychiatric disorders and ignorance of the capital allocation and financing needs of a company at MindMed’s growth stage and would destroy value for shareholders.
If all of its nominees are elected, FCM would control the Company and its $100+ million in cash on hand despite only owning a small percentage of our outstanding shares and failing to provide any realistic strategic plan for MindMed. Giving FCM any representation on the Board would endanger the Company’s current strategy and team at a pivotal period, putting shareholders’ investment at risk.
FCM’s nominees lack the relevant experience overseeing clinical, regulatory and go-to-market strategies for MindMed’s field of drug candidates as well as the relevant public company board experience and expertise needed in other key areas such as capital raising.