Clearmind Medicine Inc.
CMND evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for CMND—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · CMND
Clearmind Medicine Inc. is a clinical-stage biopharmaceutical company developing novel psychedelic-based therapies, primarily its lead candidate MEAI for alcohol use disorder and obesity, with no approved products or revenue to date.
Key risk: No revenue or profitability
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jan 31, 2026.
Tracking 1 clinical trial for Clearmind Medicine Inc..
Clearmind Medicine Inc. is a clinical-stage biopharmaceutical company developing novel psychedelic-based therapies, primarily its lead candidate MEAI for alcohol use disorder and obesity, with no approved products or revenue to date.
- Lead candidate MEAI is in Phase I/IIa clinical trials for alcohol use disorder (AUD) and obesity/metabolic disorder [sec · filed 2026-01-20].
- As of January 31, 2026, the company reported cash & equivalents of $9.3M, net income of -$3.9M, and shareholders' equity of $3.1M [sec].
- The company has not yet commercialized any products and has never generated revenue from product sales [sec · filed 2026-01-20].
- Clearmind relies on third-party manufacturers for drug supply and lacks internal manufacturing infrastructure [sec · filed 2026-01-20].
- As a foreign private issuer, the company is exempt from certain U.S. securities regulations, including Section 16(b) short-swing profit rules and Regulation FD [sec · filed 2026-01-20].
What works
- MEAI is being advanced through clinical development in multiple indications (AUD, obesity) with regulatory approvals to initiate trials from the Israeli Ministry of Health (Feb 2024) and FDA (July 2024) [sec · filed 2026-01-20].
- The company targets large, underserved markets (alcohol use disorder, binge eating) with significant unmet need [sec · filed 2026-01-20].
- Clearmind has a focused pipeline on neuroplastogen-based therapies, which it believes represent a future treatment paradigm for mental health disorders [sec · filed 2026-01-20].
What to weigh
- The company has no approved products, no revenue, and an accumulated history of losses; it expects expenses and operating losses to increase substantially as clinical trials advance [sec · filed 2026-01-20].
- Clearmind is dependent on external financing (primarily equity sales) and may need to curtail or delay programs if funding is not obtained on acceptable terms [sec · filed 2026-01-20].
- All product candidates are in preclinical or early clinical stages; clinical development is lengthy, expensive, and subject to uncertain outcomes and potential delays [sec · filed 2026-01-20].
- The company relies on third parties for manufacturing and has no internal capacity, increasing supply chain and quality risks [sec · filed 2026-01-20].
From the filings
Quoted directly from source documents.
The company has not yet commercialized any products and may never become profitable.
“We have not yet commercialized any products or technologies, and we may never become profitable.”
SEC filings · January 20, 2026
MEAI is in Phase I/IIa clinical trials for AUD and obesity.
“We are a clinical stage pharmaceutical company currently engaged in phase I/IIa clinical trials of novel psychedelic medicines to solve widespread, yet under-served, health problems.”
SEC filings · January 20, 2026
The company has no internal manufacturing capability and relies on third parties.
“We do not currently have, nor do we plan to acquire, the infrastructure or capability internally to manufacture drug supplies for our ongoing clinical trials or any future clinical trials that they may conduct, and we lack the resour”
SEC filings · January 20, 2026
Clearmind is exempt from certain U.S. securities laws as a foreign private issuer.
“As a foreign private issuer, we will also not be subject to the requirements of Regulation FD (Fair Disclosure) promulgated under the Exchange Act.”
SEC filings · January 20, 2026
Risks & what to watch (4)›
Key risks
- No revenue or profitability — Company has no approved products, no revenue, and expects increasing losses; may never achieve profitability [sec · filed 2026-01-20].
- Dependence on external financing — Operations funded primarily through equity sales; failure to obtain funding may force delays or discontinuation of programs [sec · filed 2026-01-20].
- Clinical and regulatory uncertainty — All candidates are preclinical or early-stage; clinical trials are lengthy, expensive, and outcomes are uncertain [sec · filed 2026-01-20].
- Reliance on third-party manufacturers — No internal manufacturing capability; supply chain risks could delay trials or increase costs [sec · filed 2026-01-20].
What to watch
- Progress of Phase I/IIa clinical trials for MEAI in alcohol use disorder and obesity [sec · filed 2026-01-20].
- Ability to secure additional financing through equity or partnerships to fund ongoing operations [sec · filed 2026-01-20].
- Regulatory developments and potential FDA or foreign authority decisions on MEAI [sec · filed 2026-01-20].
- Any updates on manufacturing agreements or supply chain arrangements [sec · filed 2026-01-20].
Sources: SEC filings · Generated August 26, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
14.1 months
D/E 0.35
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
1 buy · 4 sells (180d)
Runway
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
5
Total value held
$30K
| Holder | Shares | Value |
|---|---|---|
| xtx topco ltd | 21,694 | $23K |
| advisorshares investments llc | 7,357 | $8K |
| hrt financial lp | 15,910 | $16 |
| ubs group ag | 1 | $1 |
| royal bank of canada | 14 | $0 |
Short Interest
as of May 20, 2026- % of float
- 4.3%
- Days to cover
- 0.0
- Shares short
- 437,078
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
CMND short interestFrequently asked questions
What is the AI investment thesis for Clearmind Medicine Inc.?
Clearmind Medicine Inc. is a clinical-stage biopharmaceutical company developing novel psychedelic-based therapies, primarily its lead candidate MEAI for alcohol use disorder and obesity, with no approved products or revenue to date.
Who is the CEO of Clearmind Medicine Inc.?
Dr. Adi Zuloff-Shani Ph.D. is the chief executive officer of Clearmind Medicine Inc. (CMND).
Where is Clearmind Medicine Inc. headquartered?
Clearmind Medicine Inc. (CMND) is headquartered in Vancouver, BC, Canada.
What therapeutic areas does Clearmind Medicine Inc. focus on?
Clearmind Medicine Inc. develops therapies across Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.