Clearmind expands phase I/IIa trial for alcohol use disorder treatment

VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), a micro-cap biotech company with a market capitalization of $5.08 million, announced Tuesday the expansion of its Phase I/IIa clinical trial for CMND-100, its oral treatment candidate for Alcohol Use Disorder (AUD), with the addition of a new clinical site at Johns Hopkins University School of Medicine. According to InvestingPro analysis, the company appears fairly valued at its current trading price of $0.99.

The company reported enrollment of the first participant at the Johns Hopkins site, following recent enrollment at Yale School of Medicine. The trial aims to evaluate the safety, tolerability, and pharmacokinetic profile of CMND-100, a proprietary MEAI-based treatment, while also assessing preliminary efficacy indicators for reducing alcohol cravings and consumption. InvestingPro data shows the company maintains a healthy current ratio of 1.74 and holds more cash than debt on its balance sheet, providing financial flexibility for its clinical programs.

According to the company’s statement, the Phase I/IIa study is designed as a multinational, multicenter, single- and multiple-dose trial to establish safety parameters and optimal dosing for CMND-100.

"Each new clinical site we activate and each new participant we enroll brings us one step closer to validating CMND-100’s potential to redefine the treatment landscape for AUD," said Dr. Adi Zuloff-Shani, CEO of Clearmind.

The clinical-stage biotech company focuses on developing psychedelic-derived therapeutics for underserved health problems. Clearmind’s intellectual portfolio currently includes nineteen patent families with 31 granted patents, according to the press release.

The information in this article is based on a company press release statement.

In other recent news, Clearmind Medicine Inc. has made significant advancements in its Phase I/IIa clinical trial for CMND-100, a drug candidate aimed at treating Alcohol Use Disorder (AUD). The company has received Institutional Review Board approval from Tel Aviv Sourasky Medical Center, allowing patient enrollment at this site. This comes alongside the participation of other prominent institutions such as Yale School of Medicine and Johns Hopkins University. Clearmind has also dosed the first participant in this multinational study, which seeks to evaluate the safety and efficacy of the MEAI-based oral drug in reducing alcohol cravings and consumption.

The trial now includes additional clinical sites, with Hadassah-University Medical Center in Jerusalem joining the effort. Clearmind’s CEO, Dr. Adi Zuloff-Shani, has highlighted these developments as pivotal steps toward addressing AUD, a condition affecting millions globally. The study will assess both single- and multiple-dose components to establish safety and optimal dosing parameters. Clearmind’s intellectual property portfolio currently includes 19 patent families with 31 granted patents.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.