Clearmind's CMND-100 Clears Safety Hurdle, Advances to Alcohol Use Disorder Patients
CMND is trading near its 52-week low of $1.43 (14% above the low).
Summary
Clearmind's independent DSMB unanimously approved advancing CMND-100 to Parts B and C of its Phase I/II trial after Part A met its primary safety endpoint in healthy volunteers. Part B will be the first time the drug is tested in patients with moderate to severe alcohol use disorder, with two cohorts of six patients receiving 80 mg and 160 mg doses. Part C will run concurrently in healthy participants at a fixed 160 mg daily dose over five days. This is a meaningful clinical milestone for a micro-cap company with a going concern warning and heavy dilution from recent convertible note financings. The advancement to patient dosing is the key de-risking event, though efficacy data is still months away.
Updates
· Benzinga — The stock rose 9% on the news.
At the time of this announcement, CMND was trading at $1.63 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.5M. The 52-week trading range was $1.43 to $524.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.