Earnings Releases·Nov 10, 2026, 4:45 PM ET

Mentari Therapeutics, Inc. — November 2026 Merger Earnings Summary

The merger closed on November 6, 2026, with Mentari as the accounting acquirer, resulting in pro forma combined cash and cash equivalents of $478.1 million as of June 30, 2026, following $490.0 million in aggregate gross proceeds from pre-closing financing.
Pro forma combined net loss from continuing operations was $37.3 million for the six months ended June 30, 2026, and $26.9 million for the year ended December 31, 2025, with pro forma net loss per share of $(0.64) and $(0.46) respectively.
The Combined Company will focus substantially all resources on Mentari's migraine prevention programs, while InMed's legacy cannabinoid assets are excluded from future development and will be monetized exclusively through a Contingent Value Rights (CVR) structure.
Former Mentari stockholders will own approximately 99.0% of the combined entity, while former InMed shareholders hold 1.0% and receive one CVR per share representing rights to net proceeds from legacy asset dispositions.
Pro forma financial information is preliminary and subject to revision due to potential differences in final accounting, transaction costs, and integration impacts, with no income tax effects reflected due to full valuation allowances on deferred tax assets.