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VANCOUVER - Clearmind Medicine Inc. (NASDAQ:CMND), a clinical-stage biotech company with a market capitalization of $5.03 million, has announced the filing of a new international patent application for a treatment designed to target eating disorders such as anorexia and bulimia. The proposed therapy involves a combination of 3-Methylmethcathinone (3-MMC) and Palmitoylethanolamide (PEA), which aims to address the complex neurobiological and psychological factors associated with these conditions.
Eating disorders are recognized as serious mental health issues that can significantly affect an individual’s health, emotions, and daily functioning. They are among the leading causes of disability in young women and have one of the highest mortality rates of any mental disorder. Studies have shown that up to 70 million people worldwide suffer from eating disorders, with prevalence rates rising from 3.4% to 7.8% between 2000 and 2018.
Clearmind’s CEO, Dr. Adi Zuloff-Shani, expressed the company’s dedication to developing innovative treatments for mental health conditions that are currently underserved. The research into 3-MMC and PEA is part of the company’s broader commitment to exploring the therapeutic potential of psychedelic-derived compounds.
The company’s efforts continue to focus on a range of mental health challenges, with the goal of advancing its pipeline of novel therapeutics through scientific and clinical development. Clearmind’s intellectual property portfolio includes nineteen patent families with 31 granted patents, and the company is actively seeking to expand its portfolio.
Clearmind Medicine’s shares are publicly traded on the Nasdaq and the Frankfurt Stock Exchange under the symbols CMND and CWY0, respectively. The stock, currently trading at $0.98, has seen a year-to-date decline of 29%. According to InvestingPro analysis, the company maintains a healthy balance sheet with more cash than debt and a current ratio of 1.72, though it remains unprofitable over the last twelve months. For deeper insights into CMND’s financial health and growth potential, including 8 additional exclusive ProTips, visit InvestingPro. The information provided in this article is based on a press release statement from the company.
In other recent news, Clearmind Medicine Inc. has initiated a Phase I/IIa clinical trial for its drug candidate CMND-100, aimed at treating Alcohol Use Disorder (AUD). The trial, which is underway at Johns Hopkins University School of Medicine and other sites, will assess the safety and potential efficacy of the drug. Clearmind has also filed an international patent application in collaboration with Yissum Research Development Company, focusing on new psychedelic compounds for mental health and addiction treatment. This patent application is part of Clearmind’s broader strategy to expand its intellectual property portfolio, which already includes 19 patent families and 31 granted patents.
Additionally, Clearmind has launched an Electronic Data Capture (EDC) system to support its ongoing clinical trial for AUD, enhancing data collection and management. The company’s drug candidate, CMND-100, has arrived in the United States for trials, marking a significant step in its clinical development. Clearmind has also partnered with Polyrizon Ltd. to explore an intranasal formulation for psychedelic-based treatments, which could offer improved bioavailability and patient compliance. These developments reflect Clearmind’s commitment to advancing psychedelic-derived therapeutics and addressing challenging health issues.
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