Clearmind Medicine Shares Rise 51% After Type A FDA Meeting

By Chris Wack

Clearmind Medicine shares were up 51% to $3.12 after the company completed a Type A meeting with the U.S. Food and Drug Administration to discuss its clinical trial of its proprietary MEAI-based, CMND-100 compound, for the treatment of alcohol-use disorder treatment using its novel psychedelic-based therapy.

The stock hit its 52-week low of $1.92 on Monday, and is down 98% in the past 12 months.

The biotechnology company said the meeting was "informative and productive, and we're eager to advance the U.S. regulatory process."

The active ingredient in CMND-100 is MEAI (5-methoxy-2-aminoindane), a novel psychoactive molecule that has been reported to reduce the desire to consume alcoholic beverages while exerting a euphoric alcohol-like experience.

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(END) Dow Jones Newswires

01-10-24 1004ET