Sep. 15 at 6:08 PM
$MNMD Valuation Multiples & Comparable Acquisitions
With Phase 3 readouts arriving in 2026, investors / acquirers will be keenly focused on those data. Before those readouts, valuation will still be somewhat speculative and heavily discounted for risk.
Comparable biotech deals (especially CNS - psychedelics) have been relatively rare but instructive (except for Abbvie acquiring Gilgamesh drug candidate). The “premium” for breakthrough status, for novel mechanism, and for indication with large market (GAD, MDD) could push valuation upward if data hold up.
Dilution / Capital Structure Risks
Shares outstanding lower than in some earlier estimates; options, warrants, and RSUs may dilute. Any acquisition offer would have to consider these.
