Clearmind Medicine Inc.
- Open
- 2.08
- Day high
- 2.13
- Day low
- 2.05
- Prev close
- 2.10
- Volume
- 48K
- Mkt cap
- $21M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.8
- P/S
- —
- Yield
- —
- Per share
- —
- ▲Insiders net buying $212K over the last 3 months (1 open-market buy, 4 sales)
- 🏛Institutions accumulating (13F)
Clearmind Medicine Inc. (CMND) is a Healthcare company listed on NASDAQ. The stock is down 99% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 4 sales (SEC Form 4).
Clearmind Medicine Inc. (CMND) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CMND earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 15, 2026 | — | $-6.78 | — | — | — |
| Mar 12, 2026 | — | $-3.32 | — | — | — |
| Sep 11, 2025 | — | $-0.25 | — | — | — |
| Jun 12, 2025 | — | $-0.16 | — | — | — |
| Mar 13, 2025 | — | $-0.24 | — | — | — |
| Sep 16, 2024 | — | $-0.59 | — | — | — |
| Jun 13, 2024 | — | $-0.28 | — | — | — |
| Mar 18, 2024 | — | $-0.90 | — | — | — |
| Sep 13, 2023 | — | $-0.08 | — | — | — |
| Jun 14, 2023 | — | $-48.90 | — | — | — |
| Mar 17, 2023 | — | $-96.20 | — | — | — |
| Apr 30, 2022 | — | $-317.31 | — | — | — |
CMND insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 18, 2026 | HRT FINANCIAL LP10 percent owner | Sell | 22,139 | $3.31 |
| Jun 17, 2026 | HRT FINANCIAL LP10 percent owner | Sell | 3,183 | $3.32 |
| Jun 16, 2026 | HRT FINANCIAL LP10 percent owner | Sell | 2,102 | $3.36 |
| Jun 12, 2026 | HRT FINANCIAL LP10 percent owner | Buy | 2,159,052 | $0.15 |
| Jun 12, 2026 | HRT FINANCIAL LP10 percent owner | Sell | 225,191 | $0.12 |
| May 16, 2017 | Lamadrid Daviddirector, 10 percent owner, officer: CEO and President | Grant | 857,143 | $0.35 |
Source: CMND SEC Form 4 filings, latest Jun 18, 2026. For informational purposes only — not investment advice.
See the full CMND insider & 13F page →Clearmind Medicine Inc. company profile
Overview
Clearmind Medicine Inc. (NASDAQ:CMND) is a pre-clinical stage biotechnology company founded in 2017 and based in Vancouver, Canada. The company went public in November 2022 and focuses on developing novel psychedelic-based medicines to treat underserved mental health conditions. Originally incorporated as Cyntar Ventures Inc., the company changed its name to Clearmind Medicine Inc. in March 2021 to reflect its specialized focus on psychedelic therapeutics. As a pre-clinical company, Clearmind has not yet generated revenue and remains in the early stages of drug development.
Business
Clearmind Medicine operates in the emerging psychedelic therapeutics sector, which represents a new frontier in mental health treatment. The company develops novel pharmaceutical compounds based on psychedelic substances to treat various mental health and behavioral disorders that are currently underserved by existing therapies. The company's core focus areas include developing treatments for alcohol use disorders, including binge drinking, as well as eating disorders, depression, and other binge behaviors. Psychedelic therapeutics work by targeting specific neurotransmitter systems in the brain, particularly serotonin receptors, which can help reset dysfunctional neural pathways associated with addiction and mental health conditions. The psychedelic medicine industry has gained significant attention in recent years as traditional psychiatric medications have shown limited efficacy for many patients. Unlike conventional antidepressants or anti-anxiety medications that require daily dosing, psychedelic therapies are typically administered in controlled clinical settings with psychological support, potentially offering longer-lasting therapeutic benefits from fewer treatment sessions. As a pre-clinical company, Clearmind is currently in the research and development phase, working to identify promising compounds, conduct laboratory studies, and prepare for eventual clinical trials. The company has not yet advanced any treatments to human clinical trials, which represents the next major milestone in the drug development process.
Revenue model
As a pre-clinical biotechnology company, Clearmind Medicine currently generates no revenue and operates on a research and development model funded by equity financing. The company's future business model will likely center on licensing agreements and partnership deals with larger pharmaceutical companies, as is common in the biotech industry. The company's path to profitability involves several stages: first, successful completion of pre-clinical studies, followed by Phase I, II, and III clinical trials, regulatory approval, and eventual commercialization. If successful, Clearmind could generate revenue through direct product sales, licensing fees from pharmaceutical partners, milestone payments during development, and royalties on commercialized products. Key factors that could positively impact future margins include successful clinical trial results, regulatory approval for psychedelic therapies, growing acceptance of psychedelic medicine in mainstream healthcare, and potential breakthrough therapy designations that could accelerate development timelines. The company's focus on underserved conditions like alcohol use disorders represents a significant market opportunity, as current treatment options are limited and often ineffective. Conversely, factors that could negatively impact the business include clinical trial failures, regulatory setbacks, competition from larger pharmaceutical companies entering the psychedelic space, changing regulatory attitudes toward psychedelic substances, and the inherent high costs and risks associated with drug development. The company's current cash burn rate of approximately $5 million annually means it will need continued equity financing or partnerships to fund operations until potential commercialization.
Competitive moat
Clearmind Medicine's competitive moat is currently limited, as is typical for early-stage biotechnology companies. The company's primary potential advantages lie in its specialized focus on psychedelic therapeutics for specific conditions like alcohol use disorders and its early entry into this emerging therapeutic area. However, the psychedelic medicine space is becoming increasingly competitive, with numerous well-funded companies pursuing similar approaches. Larger pharmaceutical companies like Compass Pathways, MAPS, and others have significantly more resources and are further advanced in clinical development. The fundamental challenge for Clearmind is that psychedelic compounds themselves cannot be patented, as many are naturally occurring or have been known for decades. The company's potential moat will ultimately depend on developing proprietary formulations, delivery methods, or combination therapies that can be protected through intellectual property. Additionally, establishing strong clinical data and regulatory relationships could provide competitive advantages. However, until the company advances to clinical trials and demonstrates efficacy, its competitive position remains vulnerable. The regulatory environment for psychedelic medicines is still evolving, which creates both opportunities and risks. While this represents a significant barrier to entry that could protect successful companies, it also means that regulatory changes could quickly alter the competitive landscape. Overall, Clearmind's moat is currently weak and will depend heavily on successful execution of its development programs and ability to differentiate its treatments from competitors.
Risks & safety
Clearmind Medicine presents significant financial risks typical of pre-clinical biotechnology companies, with limited margin of safety for investors. • Cash Position: $5.8 million in cash and short-term investments as of Q1 2025, providing approximately 12-15 months of runway at current burn rates • Cash Burn: Quarterly operating cash flow of -$1.3 million, with annual burn rate of approximately $5 million • Debt Level: Minimal debt with debt-to-equity ratio of 0.016, indicating low leverage risk • Solvency Risk: High - company will need additional financing within the next year to continue operations • Valuation Metrics: Trading at 2.2x book value with negative earnings, making traditional valuation metrics less meaningful • Market Cap: Approximately $4.9 million, reflecting high risk and speculative nature • Current Ratio: 1.72, indicating adequate short-term liquidity to meet current obligations • Other Considerations: No revenue generation, dependence on equity markets for funding, and typical biotech development risks including clinical trial failures and regulatory setbacks
Recent development
Based on available financial information, Clearmind Medicine has maintained its focus on pre-clinical development of psychedelic therapeutics over the past few years. The company has managed to improve its financial position since its challenging early post-IPO period in 2022, when it faced significant cash constraints with only $131,000 in cash and current liabilities exceeding current assets. The company has successfully raised capital through equity financing, building its cash position to over $5.8 million by early 2025. This represents a significant improvement in financial stability, though the company continues to burn cash at a rate of approximately $5 million annually. The consistent quarterly losses of around $1 million demonstrate ongoing research and development activities, though specific program milestones and achievements are not detailed in the available financial data. Clearmind has maintained its strategic focus on developing treatments for alcohol use disorders and eating disorders, positioning itself within the growing psychedelic therapeutics sector. The company's ability to maintain operations and continue its research programs despite generating no revenue demonstrates management's success in securing funding, though this remains an ongoing challenge for the business.
CMND company profile · for informational purposes only — not investment advice.
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