Clearmind Medicine Inc.

Snapshot

Clearmind Medicine is a tiny pre-clinical biotech with no revenue and a shrinking cash position. The company lost $3.9M in FY 2025 and burns roughly $4.7M a year in operating cash flow. With only $5.6M in cash and $1.8M in debt, the current cash runway is 11.6 months, which is tight for a firm that has already executed two reverse stock splits in the last year to keep its stock price above Nasdaq minimums.

What's Happening Right Now

• Fri 29th May '26 · Patent filing: The company filed a Japanese patent application for its proprietary depression treatment composition.
• Tue 26th May '26 · Clinical trial: Johns Hopkins approved the advancement of the CMND-100 Phase I/II trial for alcohol use disorder to the next study parts.
• Tue 19th May '26 · Reverse split: A 1-for-10 reverse stock split took effect on May 21, 2026, following a 1-for-40 split in December 2025 to maintain Nasdaq listing compliance.
• Mon 18th May '26 · Debt financing: The company raised $540K in cash through a discounted convertible note, part of a facility allowing up to $10M in new debt.
• Mon 18th May '26 · Research deal: Clearmind signed a research agreement with Hebrew University to study its lead compound in combination with weight-loss drugs like tirzepatide.