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CMND

Clearmind Medicine Inc.

CMND

Clearmind Medicine Inc. • NASDAQ
$0.15 ▼ -0.32% (-0.00)
Market Cap $844604
52w High $2.18
52w Low $0.14
Dividend Yield 0%
P/E -0.21
Volume 2.58M
Outstanding Shares 5.46M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $1.307M ▼ $-783.928K ▲ 0% $-0.16 ▲ $-1.295M ▼
Q1-2025 $0 $1.484M ▼ $-1.072M ▼ 0% $-0.24 ▼ $-1.012M ▲
Q4-2024 $0 $1.575M ▲ $-884.744K ▲ 0% $-0.21 ▲ $-1.18M ▲
Q3-2024 $0 $1.456M ▲ $-2.094M ▼ 0% $-0.59 ▼ $-1.456M ▼
Q2-2024 $0 $1.304M $-908.217K 0% $-0.28 $-855.72K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $4.65M ▼ $5.18M ▼ $2.879M ▼ $2.301M ▼
Q1-2025 $5.916M ▼ $6.585M ▼ $3.731M ▼ $2.854M ▼
Q4-2024 $6.863M ▼ $7.255M ▼ $4.148M ▼ $3.108M ▼
Q3-2024 $7.68M ▼ $8.173M ▼ $4.7M ▲ $3.473M ▼
Q2-2024 $8.306M $8.846M $4.2M $4.646M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-783.928K ▲ $-1.098M ▲ $-200K ▼ $-10.298K ▼ $-1.309M ▼ $-1.098M ▲
Q1-2025 $-1.072M ▼ $-1.265M ▼ $69.462K ▲ $404.812K ▲ $-792.617K ▲ $-1.265M ▼
Q4-2024 $-884.744K ▲ $-1.077M ▲ $-350.4K ▼ $323.205K ▼ $-1.106M ▼ $-1.085M ▲
Q3-2024 $-2.094M ▼ $-1.127M ▲ $33.803K ▼ $469.537K ▲ $-626.279K ▲ $-1.127M ▲
Q2-2024 $-908.217K $-1.193M $78.5K $145.129K $-980.046K $-1.193M

Five-Year Company Overview

Income Statement

Income Statement Income statement: Clearmind is still a pure research-stage biotech company, with no product sales and no meaningful revenue so far. All reported activity is essentially research, development, and overhead spending. Losses are modest in absolute dollar terms but consistent every year, reflecting ongoing operating costs without any offsetting income. The very volatile reported loss per share mainly reflects repeated reverse stock splits rather than changes in the underlying business. Overall, this is a classic early-stage biotech profile: expenses for science and trials, no commercial income yet, and dependence on future funding and clinical success.

Balance Sheet

Balance Sheet Balance sheet: The company operates with a very small asset base, largely made up of cash and short-term resources. There is effectively no financial debt, which reduces pressure from lenders but also highlights that the company mainly relies on issuing equity to fund itself. Shareholders’ equity is thin, reflecting cumulative losses and dilution over time. The multiple reverse stock splits signal substantial historical share price pressure and repeated reshaping of the capital structure. In plain terms, the balance sheet is light, clean of debt, but also fragile and highly sensitive to any setbacks in funding or trials.

Cash Flow

Cash Flow Cash flow: Clearmind’s cash flows show what you would expect from an early biotech: money flows out for operations and clinical work, while nothing comes in from products yet. Operating and free cash flow are consistently negative but relatively small at this stage, suggesting a modest burn rate today, though that can rise quickly as trials scale up. There is essentially no spending on physical assets; the key investments are in people, trials, and intellectual property. The main risk is the need for regular fresh capital raises to keep the pipeline moving, especially if trial timelines extend or costs rise.

Competitive Edge

Competitive Edge Competitive position: Clearmind is focused on a highly specific niche: non-hallucinogenic, psychedelic-derived treatments for addiction and mental health, led by its MEAI-based candidate. This focus, along with a broad patent portfolio across several countries, creates a meaningful barrier to direct copycat competition. The company differentiates itself from other psychedelic players by aiming for take-home, non-hallucinogenic treatments rather than in-clinic, intense psychedelic experiences. However, it is still a small player in a crowded field that includes much larger and better-funded companies. Its competitive position will ultimately depend on clinical data quality, regulatory outcomes, and its ability to partner or scale commercially.

Innovation and R&D

Innovation and R&D Innovation & R&D: Innovation is the core of Clearmind’s story. The company’s lead program, an MEAI-based oral drug for alcohol use disorder, is positioned as a novel way to reduce cravings without hallucinogenic effects, potentially allowing more convenient at-home use. Early safety signals from clinical testing are encouraging, and the company is exploring broader uses in areas like other addictions, mood disorders, and obesity. The intellectual property estate around MEAI and related compounds is extensive, giving Clearmind a protected platform to build on. The flip side is that everything is still in clinical or preclinical stages, so there is high scientific and regulatory uncertainty, and timelines can be long before any commercial payoff materializes.

Summary

Summary: Clearmind is an extremely early-stage, high-risk biotech focused on a single main technology platform rather than a diversified portfolio of marketed drugs. Financially, it has no revenue, ongoing operating losses, a very small but mostly cash-based balance sheet, and no meaningful debt, with a history of share restructurings that point to heavy reliance on equity markets. Strategically, its non-hallucinogenic approach and strong patent coverage give it a distinct angle within the psychedelic and addiction-treatment space, but it operates in a competitive environment against much larger peers. The company’s future hinges on clinical trial outcomes, its ability to secure ongoing funding, and its success in forming partnerships or scaling commercialization if its lead candidate proves effective. Uncertainty is high, but so is the dependence on a few key scientific and regulatory milestones.

NEWS

November 25, 2025 · 7:17 AM UTC

Clearmind Medicine Kicks-Off Patient Enrollment at Tel Aviv Sourasky Medical Center, Adding Another Site Activated in its in Phase I/IIa Alcohol Use Disorder Trial

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November 24, 2025 · 8:51 AM UTC

Clearmind Medicine's Data and Safety Monitoring Board Unanimously Approves Continuation of Phase I/IIa Clinical Trial for CMND-100 Following Positive Interim Safety Review

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November 20, 2025 · 6:01 AM UTC

Clearmind Medicine Accelerate FDA-Approved Alcohol Use Disorder Clinical Trial by Activating Fifth Elite Global Medical Site

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November 18, 2025 · 8:56 AM UTC

Clearmind Medicine Announces Positive Top-Line Results from First Cohort of its FDA-Approved Phase I/IIa Clinical Trial for Alcohol Use Disorder

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November 17, 2025 · 7:55 AM UTC

Clearmind Medicine Files Israeli Patent for Novel Non-Hallucinogenic Neuroplastogen Treatment for Depression

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