Why Is Penny Stock Clearmind Gaining Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 24 2024
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Source: Benzinga
Clearmind Medicine's Clinical Trial Approval: Clearmind Medicine Inc. received IRB approval for its Phase I/IIa clinical trial of CMND-100, a drug aimed at treating alcohol use disorder (AUD), which will be conducted at Yale School of Medicine.
Market Reaction and Potential Impact: Following the announcement, CMND shares rose by 35% to $1.64, highlighting investor interest in the potential for CMND-100 to improve treatment options for AUD, addressing a significant health issue responsible for millions of deaths annually.
Analyst Views on CMND
About CMND
Clearmind Medicine Inc. is a psychedelic pharmaceutical biotech company. The Company is focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorders. The Company researches and develops psychedelic-based compounds and attempts to commercialize them as regulated medicines, foods, or supplements. The Company’s intellectual portfolio consists of 19 patent families including 31 granted patents.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
