| Catalyst | Drug/Treatment | Stage | Probability of Approval | Description | Drug Type | Therapeutic Area | Source |
|---|---|---|---|---|---|---|---|
Phase 1/IIa data readout example | CMND-100 Alcohol Use Disorder | Phase 1 | 12.5% Clearmind Medicine Inc. (CMND) is advancing CMND-100, a proprietary oral, non-hallucinogenic drug candidate derived from 5-methoxy-2-aminoindane (MEAI), a psychoactive compound structurally akin to MDMA. This innovative drug is designed to modulate reward mechanisms in the brain, aiming to produce an alcohol-like euphoric effect that could effectively reduce cravings and consumption in patients suffering from Alcohol Use Disorder (AUD). Unlike traditional psychedelics, CMND-100 seeks to provide a breakthrough non-hallucinogenic profile, targeting addictive behaviors without inducing perceptual distortions. The market for AUD represents a substantial global opportunity, estimated at $15 billion. This market is characterized by a high prevalence of affected individuals, with millions suffering worldwide, and a significant unmet need. Current treatment options, including naltrexone, acamprosate, and disulfiram, demonstrate only modest efficacy, achieving abstinence rates of 20-30% while facing challenges such as high relapse rates and poor adherence. The persistent unmet need is exacerbated by the serious complications associated with AUD, including liver disease, cardiovascular issues, and mental health disorders. CMND-100 is positioned as a first-in-class therapy, leveraging a novel MEAI mechanism that distinguishes it from existing opioid antagonists and GABA modulators, with no other drugs sharing this specific mechanism of action. As of May 13, 2026, the development of CMND-100 has progressed beyond the initial Phase I stage into a multinational, FDA-approved Phase I/IIa trial (HIC# 2000035043 at Yale), although no NCT number is listed in the sources. This trial is structured as a four-part study involving both single and multiple doses, enrolling participants aged 18-60, including healthy volunteers and individuals with moderate to severe AUD or binge drinking patterns (BMI 18-35). The trial is being conducted at prestigious sites such as Yale School of Medicine, Johns Hopkins, and IMCA Center in Israel. It features a partially blinded design with a placebo control, focusing on inpatient monitoring over 24 hours. The primary endpoints include safety, tolerability, and pharmacokinetics/pharmacodynamics (PK/PD), while secondary endpoints assess preliminary efficacy through reductions in drinking patterns and cravings. Enrollment is ongoing, with 18 participants having completed treatment and follow-up. Positive interim data from the third dose cohort indicate high tolerability, no serious adverse events, and favorable safety at higher doses, although full PK/PD or efficacy metrics remain unreported. Currently, CMND-100 does not hold any specific regulatory designations for AUD, such as Fast Track or Breakthrough Therapy status. The safety profile appears robust thus far, with no discontinuations or adverse signals noted. In terms of competitive positioning, CMND-100 stands apart from established AUD treatments and the limited pipeline of alternatives, as there are no direct MEAI competitors. While psychedelic-adjacent programs, such as ibogaine derivatives, encounter regulatory challenges, precedents like nalmefene (approved in the EU for relapse risk) have shown modest efficacy but limited uptake. Recent rejections of suvorexant analogs for addiction due to safety and efficacy concerns further highlight the competitive landscape. Conversely, successes like the repurposing of semaglutide for AUD, which has shown promising Phase II signals, underscore the potential of reward modulation but also emphasize the necessity for robust Phase III data. The estimated probability of approval (PoA) for CMND-100 stands at 12.5%. This figure reflects the progress made in the Phase I/IIa trial, with historical data suggesting a PoA of approximately 10-15% from Phase I in addiction contexts, slightly enhanced by the clean safety profile and novel mechanism of action. However, the small size of the sponsoring biotech, which has no prior FDA approvals and lacks pharmaceutical partnerships, coupled with unproven long-term efficacy and the inherent risks associated with psychedelic compounds, tempers the outlook. While the standard PoA for Phase II to approval is around 30%, the early-stage nature of CMND-100 and execution challenges result in a lower estimate. The investment appeal is contingent on upcoming catalysts, such as the release of full Phase I/IIa data, but the high binary risk associated with this asset suggests it is best suited for speculative portfolios. Read More | Small Molecules | Psychiatric Disorders | ||
Phase 1/IIa data readout example | CMND-100 Alcohol Use Disorder | Phase 1 | 12.5% Clearmind Medicine Inc. (CMND) is advancing CMND-100, a proprietary oral, non-hallucinogenic drug candidate derived from 5-methoxy-2-aminoindane (MEAI), a psychoactive compound structurally akin to MDMA. This innovative drug is designed to modulate reward mechanisms in the brain, aiming to produce an alcohol-like euphoric effect that could effectively reduce cravings and consumption in patients suffering from Alcohol Use Disorder (AUD). Unlike traditional psychedelics, CMND-100 seeks to provide a breakthrough non-hallucinogenic profile, targeting addictive behaviors without inducing perceptual distortions. The market for AUD represents a substantial global opportunity, estimated at $15 billion. This market is characterized by a high prevalence of affected individuals, with millions suffering worldwide, and a significant unmet need. Current treatment options, including naltrexone, acamprosate, and disulfiram, demonstrate only modest efficacy, achieving abstinence rates of 20-30% while facing challenges such as high relapse rates and poor adherence. The persistent unmet need is exacerbated by the serious complications associated with AUD, including liver disease, cardiovascular issues, and mental health disorders. CMND-100 is positioned as a first-in-class therapy, leveraging a novel MEAI mechanism that distinguishes it from existing opioid antagonists and GABA modulators, with no other drugs sharing this specific mechanism of action. As of May 13, 2026, the development of CMND-100 has progressed beyond the initial Phase I stage into a multinational, FDA-approved Phase I/IIa trial (HIC# 2000035043 at Yale), although no NCT number is listed in the sources. This trial is structured as a four-part study involving both single and multiple doses, enrolling participants aged 18-60, including healthy volunteers and individuals with moderate to severe AUD or binge drinking patterns (BMI 18-35). The trial is being conducted at prestigious sites such as Yale School of Medicine, Johns Hopkins, and IMCA Center in Israel. It features a partially blinded design with a placebo control, focusing on inpatient monitoring over 24 hours. The primary endpoints include safety, tolerability, and pharmacokinetics/pharmacodynamics (PK/PD), while secondary endpoints assess preliminary efficacy through reductions in drinking patterns and cravings. Enrollment is ongoing, with 18 participants having completed treatment and follow-up. Positive interim data from the third dose cohort indicate high tolerability, no serious adverse events, and favorable safety at higher doses, although full PK/PD or efficacy metrics remain unreported. Currently, CMND-100 does not hold any specific regulatory designations for AUD, such as Fast Track or Breakthrough Therapy status. The safety profile appears robust thus far, with no discontinuations or adverse signals noted. In terms of competitive positioning, CMND-100 stands apart from established AUD treatments and the limited pipeline of alternatives, as there are no direct MEAI competitors. While psychedelic-adjacent programs, such as ibogaine derivatives, encounter regulatory challenges, precedents like nalmefene (approved in the EU for relapse risk) have shown modest efficacy but limited uptake. Recent rejections of suvorexant analogs for addiction due to safety and efficacy concerns further highlight the competitive landscape. Conversely, successes like the repurposing of semaglutide for AUD, which has shown promising Phase II signals, underscore the potential of reward modulation but also emphasize the necessity for robust Phase III data. The estimated probability of approval (PoA) for CMND-100 stands at 12.5%. This figure reflects the progress made in the Phase I/IIa trial, with historical data suggesting a PoA of approximately 10-15% from Phase I in addiction contexts, slightly enhanced by the clean safety profile and novel mechanism of action. However, the small size of the sponsoring biotech, which has no prior FDA approvals and lacks pharmaceutical partnerships, coupled with unproven long-term efficacy and the inherent risks associated with psychedelic compounds, tempers the outlook. While the standard PoA for Phase II to approval is around 30%, the early-stage nature of CMND-100 and execution challenges result in a lower estimate. The investment appeal is contingent on upcoming catalysts, such as the release of full Phase I/IIa data, but the high binary risk associated with this asset suggests it is best suited for speculative portfolios. Read More | Small Molecules | Psychiatric Disorders | ||
Phase 1/IIa data readout example | CMND-100 Alcohol Use Disorder | Phase 1 | 12.5% Clearmind Medicine Inc. (CMND) is advancing CMND-100, a proprietary oral, non-hallucinogenic drug candidate derived from 5-methoxy-2-aminoindane (MEAI), a psychoactive compound structurally akin to MDMA. This innovative drug is designed to modulate reward mechanisms in the brain, aiming to produce an alcohol-like euphoric effect that could effectively reduce cravings and consumption in patients suffering from Alcohol Use Disorder (AUD). Unlike traditional psychedelics, CMND-100 seeks to provide a breakthrough non-hallucinogenic profile, targeting addictive behaviors without inducing perceptual distortions. The market for AUD represents a substantial global opportunity, estimated at $15 billion. This market is characterized by a high prevalence of affected individuals, with millions suffering worldwide, and a significant unmet need. Current treatment options, including naltrexone, acamprosate, and disulfiram, demonstrate only modest efficacy, achieving abstinence rates of 20-30% while facing challenges such as high relapse rates and poor adherence. The persistent unmet need is exacerbated by the serious complications associated with AUD, including liver disease, cardiovascular issues, and mental health disorders. CMND-100 is positioned as a first-in-class therapy, leveraging a novel MEAI mechanism that distinguishes it from existing opioid antagonists and GABA modulators, with no other drugs sharing this specific mechanism of action. As of May 13, 2026, the development of CMND-100 has progressed beyond the initial Phase I stage into a multinational, FDA-approved Phase I/IIa trial (HIC# 2000035043 at Yale), although no NCT number is listed in the sources. This trial is structured as a four-part study involving both single and multiple doses, enrolling participants aged 18-60, including healthy volunteers and individuals with moderate to severe AUD or binge drinking patterns (BMI 18-35). The trial is being conducted at prestigious sites such as Yale School of Medicine, Johns Hopkins, and IMCA Center in Israel. It features a partially blinded design with a placebo control, focusing on inpatient monitoring over 24 hours. The primary endpoints include safety, tolerability, and pharmacokinetics/pharmacodynamics (PK/PD), while secondary endpoints assess preliminary efficacy through reductions in drinking patterns and cravings. Enrollment is ongoing, with 18 participants having completed treatment and follow-up. Positive interim data from the third dose cohort indicate high tolerability, no serious adverse events, and favorable safety at higher doses, although full PK/PD or efficacy metrics remain unreported. Currently, CMND-100 does not hold any specific regulatory designations for AUD, such as Fast Track or Breakthrough Therapy status. The safety profile appears robust thus far, with no discontinuations or adverse signals noted. In terms of competitive positioning, CMND-100 stands apart from established AUD treatments and the limited pipeline of alternatives, as there are no direct MEAI competitors. While psychedelic-adjacent programs, such as ibogaine derivatives, encounter regulatory challenges, precedents like nalmefene (approved in the EU for relapse risk) have shown modest efficacy but limited uptake. Recent rejections of suvorexant analogs for addiction due to safety and efficacy concerns further highlight the competitive landscape. Conversely, successes like the repurposing of semaglutide for AUD, which has shown promising Phase II signals, underscore the potential of reward modulation but also emphasize the necessity for robust Phase III data. The estimated probability of approval (PoA) for CMND-100 stands at 12.5%. This figure reflects the progress made in the Phase I/IIa trial, with historical data suggesting a PoA of approximately 10-15% from Phase I in addiction contexts, slightly enhanced by the clean safety profile and novel mechanism of action. However, the small size of the sponsoring biotech, which has no prior FDA approvals and lacks pharmaceutical partnerships, coupled with unproven long-term efficacy and the inherent risks associated with psychedelic compounds, tempers the outlook. While the standard PoA for Phase II to approval is around 30%, the early-stage nature of CMND-100 and execution challenges result in a lower estimate. The investment appeal is contingent on upcoming catalysts, such as the release of full Phase I/IIa data, but the high binary risk associated with this asset suggests it is best suited for speculative portfolios. Read More | Small Molecules | Psychiatric Disorders |
Recent Updates
Recently added Catalysts
Clearmind Medicine Inc.$3.66
-0.32 (-8.04%)
D 24Pipeline Score Overvalued Biotech · Clinical
Market Cap
1.37 M
EPS
-24.14
P/E Ratio
-0.03 $
Value Trade
513.94 K
17.95 %
Week
-17.37 %
1 Month
21.05 %
3 Month
-27.37 %
6 Month
-99.78 %
5 Year
-99.78 %
All Time
Cash Data
Cash Position
12.35 K
Monthly Burn
12.35 K
Runway
12,345 mo
Overview
Volume
872.97 K
52 Week Range
0.59 - 52.40
% held by Insiders
0.66 %
% held by Institutions
0.44 %
Enterprise Value
-8.96 M
Total Shares
158.04 K
Short %
2.03 %
Float Shares
156.62 K
Company Description
locked
Upcoming Catalyst
Drug Pipeline Intelligence
D24
Pipeline Score $0M
Pipeline ValueOvervalued
Valuation Signal1
Drugs Scored0.3x
rNPV / MCap Top 22%
Micro Cap (rank 707 of 905)
Percentile RankClearmind Medicine Inc. faces pipeline headwinds (24/100), with $30M risk-adjusted pipeline value, led by CMND-100 in Alcohol Use Disorder (Phase 1).
Showing 1 of 1 assets
| Drug | Indication | Phase | NCT ID | PTRS | rNPV | Status | Enrollment | Velocity | Design | Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CMND-100 Small molecule | Alcohol Use Disorder | Phase 1 | NCT05913752 | 15% | $30M | RECRUITING | 84 | AVERAGE | B (70) | Dec 31, 2026 | LOW_RISK | MEDIUM May 26, 2026 |
Clinical Trial Results
| Drug Name | Indications | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
5-methoxy-2-aminoindane (MEAI) and N-Acylethanolamines | binge behavior disorders,alcohol use disorder,cocaine addiction,obesity,weight loss,depression | Preclinical | 2025-10-21 | |||
5-methoxy-2-aminoindane (MEAI) and N-Acylethanolamines | binge behavior disorders,alcohol use disorder,cocaine addiction,obesity,weight loss,depression | Preclinical | 2025-10-21 | |||
5-methoxy-2-aminoindane (MEAI) and N-Acylethanolamines | binge behavior disorders,alcohol use disorder,cocaine addiction,obesity,weight loss,depression | Preclinical | 2025-10-21 |
Inside Trades
YEARLY INSIDER TRANSACTIONS
Sector Avg.
INSIDERS
SOLDINSIDERS
BOUGHT
SOLDINSIDERS
BOUGHT
POSITIVE SENTIMENT Based on 22 Insiders Transactions
Hedge Funds
Shares Held
HEDGE FUNDS
SOLDHEDGE FUNDS
BOUGHT
SOLDHEDGE FUNDS
BOUGHT
POSITIVE SENTIMENT Based on 27 hedge funds in the last quarter
18 buying (3 new)·9 selling (1 exited)·2 unchanged
Hedge Funds invested in CMND
| HedgeFund Name ( 3 ) | % of Portfolio | Current MV - | Shares Owned - | Activity Avg Price $0 |
|---|---|---|---|---|
Example Capital Management | 2.5 % | 15.00 M | 250.00 K | |
Example Capital Management | 2.5 % | 15.00 M | 250.00 K | |
Example Capital Management | 2.5 % | 15.00 M | 250.00 K |
Biotech Analyst Ratings
Symbol
Firm
Rating
Action
Price Target
Upside
date
CMND
Example Securities
Buy
Initiated
$150.00
+25%
2026-01-15
CMND
Example Securities
Buy
Initiated
$150.00
+25%
2026-01-15
CMND
Example Securities
Buy
Initiated
$150.00
+25%
2026-01-15
CMND Stock Forecast & Analyst Consensus
BUY
Analyst Ratings
Buy65.0%
Hold25.0%
Sell10.0%
Price Target Trend
Average$24.00
Low$18.00
High$32.00
CMND Institutional Ownership Trends
Current Insider %
5.20%
—+0.00%
Current Institutional %
62.40%
—+0.00%
Total Ownership
67.60%
Insider + Institutional
Data Points
1
1 Ticker(s)
Option Chain Statistics
| Expiration | Volume | Open Interest | Implied Volatility Calls | Implied Volatility Puts | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Calls | Puts | Put-Call Ratio | Calls | Puts | Put-Call Ratio | IV | OiWaIv | VWaIv | IV | OiWaIv | VWaIv | |
Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last Price | Volume | Open Interest | Last Price | Volume | Open Interest | |
| No data available | ||||||
Open interest
Today's Open Interest
1.00 M
Put-Call Ratio
1.1
Put Open Interest
480.00 K
Call Open Interest
520.00 K
Open Interest Avg (30-day)
900,000
Today vs Open Interest Avg (30-day)
11.11%
Option Volume
Today's Volume
750.00 K
Put-Call Ratio
0.95
Put Volume
360.00 K
Call Volume
390.00 K
Volume Avg (30-day)
800,000
Today vs Volume Avg (30-day)
-6.25%
Latest Clearmind Medicine Inc. (CMND) News & Alerts
-
Demo Biotech Announces Positive Phase 3 Results
Competitive Position
How CMND ranks across every disease it competes in| Indication | Rank | Phase | Best Drug | Top 3 Competitors | Market $B | LoA | Position |
|---|---|---|---|---|---|---|---|
| Substance Use Disorders | #3 of 8 | CMND-100 | LLY ALT HBIO | — | 0.97 |