This company is targeting a $395 alcohol-substitute product market.
Less than 2% of active and completed psychedelic clinical trials are related to alcohol. Of those who have not yet even achieved trial status, only 5% of psychedelic companies are working on alcohol use disorders at all. (1).
This substance abuse market is shockingly underserved and untapped by players in the pharma or psychedelics field,leaving today’s Breakout Alert Profile poised for limitless potential.
Introducing Clearmind Medicine – NASDAQ CMND
Clearmind is a Vancouver Based psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods or supplements.
The Company’s intellectual portfolio currently consists of seven patent families. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.
Our team has been following this company for quite some time now, and the decline in share price over the past two weeks, which may be well overdone, could make this profile a solid addition to your watchlist with the opportunity to get in at the right price.
The company recently released some breaking news…
A December 21,2022 News Release announced that the company has officially been granted a patent from the United States Patent and Trademark Office for the use of its psychoactive compound “MEAI” to treat alcoholism. (2)
This MEAI treatment candidate is showing promise to potentially innervate neural pathways such as 5-HT1A, which CMND and many in the neurological community believe are linked to facilitating better decisions – especially those caused by addictions. This (currently) anecdotal evidence opens the doors to a slough of possibilities for the patented compound.
The Quick Facts:
The company has raised $9.4 M CAD to date
CMND has partnered with strategic shareholders including top Israeli institutional funds.
The company boasts an award winning advisory board including Psychiatrists and researchers from Canada, Europe and Israel.
Experienced management team. This management team has already successfully brough 2 drugs to market, and has expertise in pharma, finance, strategy, and psychedelics.
Further, the management team has extensive experience in regulatory processes with the FDA and Health Canada
To date, the company carries no debt.
The company is currently trading on the NASDAQ, CSE and FSE
Clearmind Medical has achieved several milestones, and analysis suggests that CMND could be well poised to make 2023 its best year to date.
A driving determination of this analysis? Clearmind Medicine nearing its goal of delivering a first-to-market psychedelic-based treatment to market, with its lead candidate, MEAI, targeting a $395 alcohol-substitute product market.
MEAI is described by the company as a new psychoactive molecule, designed to exert a euphoric alcohol-like experience and a reduced desire to consume alcoholic beverages with potential to change the lives of millions who struggle to drink in moderation. The intention is to extend this application to other binge-use disorders.MEAI is expected to give immediate results, and be self-administered as a prescription pill, a statistically attractive alternative to prolonged in-patient rehabilitation programs.Let’s take a look at some of the factors…
Firstly, CMND is showing notable success in the development of the Alcohol substitute program.
Clearmind’s overarching mission since inception has been to promptly bring their proprietary compound CMND-100 to clinical trials while developing additional proprietary psychedelic compounds for next-generation novel drug candidates, serving patients with unmet needs through a state-of-the-art drug discovery approach in medicinal chemistry and pharmacology.
Over 18 million Americans struggle with Alcohol Use Disorder(AUD) – the inability to reduce alcohol consumption. Again, this is a hugely untapped market. (3)
In fact, treatment of Alcohol Use disorder is being named by industry experts as one of the “most substantial unfulfilled medical and societal needs”(4).
Excessive alcohol consumption costs $249B/year to the US market, higher than that of depression, diabetes or heart disease. (5)
55% of victims of intimate partner violence report alcohol abuse by their abusive partner. (6).
Approximately half of all sexual assaults are committed by men who had been drinking alcohol.(7)
35% of parental child abuse offenders consumed either alcohol or drugs at the time of the incident.5 (8)
The financial implications of being the first to bring a successful self-administrated AUD treatment to market are astronomical in the private and public health sectors.
FURTHER, the compound is designed to treat more than just alcohol use, but also binge eating, depression, and other binge behaviors including cocaine, as well as mental health issues,
Additionally, the company has made notable progress with regards to patents earned and pending
The company has 15 pending and 8 granted patents, in a space with very limited competition, giving CMND a leg up to be first to market with revolutionary biotechnology, including a novel, patent-pending treatment for cocaine addiction.
Clearmind Medical is approaching clinical stage with their proprietary CMND-100, an MEAI-based treatment for Alcohol Use Disorder.
And what is coming down the pipeline for CMND?
Looking ahead to 2023, CMND expects to launch their MEAI-based drug candidate CMND-100 in human clinical trials with the FDA.
Additionally, the company states that it “will continue to advance our growing IP portfolio and pipeline of new drug candidates for mental health disorders with unmet medical needs. With a strong team, and with alliances in place to expedite time-to-market and to de-risk our drug development programs, we will continue to press on the research and development.”
Our team suggests that you move (NASDAQ CMND) to the top of your watchlist. NASDAQ:CMND could potentially offer the opportunity to enter an unsaturated market space at the ground level.
As always, do your due diligence and research before making any investment decisions.
The Team at The Daily NASDAQ