Clearmind Medicine (CMND) Registration filing summary

Company overview and business model

• Clinical-stage pharmaceutical company developing novel psychedelic medicines targeting mental health disorders, with a primary focus on alcohol use disorder (AUD), binge drinking, and eating disorders.

• Lead compound MEAI is a non-hallucinogenic neuroplastogen designed to reduce alcohol cravings and provide an alcohol substitute experience.

• Ongoing multinational Phase I/IIa clinical trials for CMND-100 (MEAI) in the US and Israel, with approvals from regulatory bodies and IRBs at major institutions.

• Strategic focus on regulatory approval via the FDA's 505(b)(1) pathway for novel drugs, requiring comprehensive clinical and nonclinical studies.

Financial performance and metrics

• As of January 31, 2026, cash and cash equivalents totaled $9.26 million; pro forma as adjusted for full note conversion, cash would be $22.13 million.

• Shareholders' equity as of January 31, 2026, was $8.24 million, rising to $21.18 million pro forma as adjusted.

• Recent direct offerings in November and December 2025 raised approximately $5.24 million in aggregate gross proceeds.

• Audit report notes recurring losses from operations and substantial doubt about the company's ability to continue as a going concern.

Use of proceeds and capital allocation

• Net proceeds from Promissory Notes are intended for general corporate purposes, including operating expenses, R&D, clinical and pre-clinical testing, working capital, acquisitions, and capital expenditures.

• Management retains broad discretion over the allocation and timing of expenditures based on clinical progress and regulatory developments.

• Pending use, proceeds may be invested in short-term, investment-grade, interest-bearing securities.