Mentari Therapeutics, Inc. — November 2026 Merger Earnings Summary

Mentari Therapeutics and InMed completed a merger on November 6, 2026, resulting in InMed being renamed Mentari Therapeutics, Inc., with the combined entity focusing on migraine prevention therapies. The transaction was structured as a reverse recapitalization where Mentari stockholders received approximately 99% of the combined company's common stock following a pre-closing financing that raised $490 million. Pro forma financial statements for the six months ended June 30, 2026, show a combined net loss of $37.3 million, while the year ended December 31, 2025, reflects a combined net loss of $26.9 million. The merger involved the conversion of Mentari's preferred stock and options into InMed securities and the elimination of InMed's legacy assets, which are now subject to a contingent value rights agreement.