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VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), (FSE:CWY0), a biotech firm specializing in psychedelic-derived therapeutics with a market capitalization of $5.31 million, announced the launch of its Electronic Data Capture (EDC) system, a significant step in its Phase I/II clinical trial for treating Alcohol Use Disorder (AUD). According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a current ratio of 1.72. The EDC system, designed specifically for Clearmind’s clinical protocol, will enable secure and compliant data collection in real-time throughout the trial.
The trial aims to assess the safety, tolerability, and efficacy of Clearmind’s MEAI-based compound in individuals with AUD. The EDC’s robust design includes automated edit checks, real-time validation, and a secure randomization process, ensuring precise data management and trial integrity. The system will support the trial’s multi-part structure, facilitating future protocol amendments and accurate tracking of safety events and informed consent procedures.
Dr. Adi Zuloff-Shani, CEO of Clearmind, emphasized the EDC system’s central role in managing clinical data, maintaining compliance, and overseeing the trial in real-time. The platform is expected to contribute significantly to the advancement of Clearmind’s MEAI-based treatment through the clinical development process.
Clearmind Medicine focuses on developing novel psychedelic-derived treatments for widespread health issues, including AUD. The company’s intellectual portfolio boasts nineteen patent families and 31 granted patents. While Clearmind continues to pursue additional patents for its compounds and remains open to acquiring further intellectual property, InvestingPro analysis indicates the company is currently not profitable, with an EBITDA of -$5.85 million in the last twelve months. Get access to 6 more exclusive InvestingPro Tips and comprehensive financial metrics to make informed investment decisions.
Shares of Clearmind are traded on the Nasdaq and the Frankfurt Stock Exchange under the symbols CMND and CWY0, respectively. The stock is currently trading at $1.03, near its InvestingPro Fair Value, with a beta of -1.46 indicating its price often moves contrary to market trends. The company’s forward-looking statements indicate plans to advance its MEAI-based treatment through clinical development, although actual results may differ due to various risks and uncertainties. The company’s next earnings report is expected on June 10, 2025.
This news article is based on a press release statement.
In other recent news, Clearmind Medicine Inc. has announced the arrival of its drug candidate, CMND-100, in the United States for Phase I/IIa clinical trials aimed at treating Alcohol Use Disorder (AUD). This trial, approved by the FDA, will assess the drug’s safety and efficacy at Yale School of Medicine and Johns Hopkins University School of Medicine. Clearmind has also begun its Phase I/IIa trial for CMND-100 in Israel, marking the first clinical application of its proprietary drug platform. Additionally, Clearmind has secured a patent in South Korea for a novel therapy aimed at treating cocaine addiction, which involves the use of MEAI in combination with N-Acylethanolamines. In a strategic move, Clearmind has partnered with Polyrizon Ltd. to develop an intranasal formulation for psychedelic-based treatments, focusing on enhancing bioavailability and therapeutic effects. The company has also filed a European patent application for a therapy targeting various forms of binge behavior, further expanding its intellectual property portfolio. Clearmind’s ongoing collaborations, including one with SciSparc Ltd., aim to develop treatments for central nervous system disorders. These developments reflect Clearmind’s commitment to pioneering new treatments and expanding its global patent portfolio.
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