(RTTNews) - Clearmind Medicine Inc. (CMND), a clinical-stage biotech company developing psychedelic-derived therapeutics, has announced a reverse share split of its issued and outstanding common shares at a ratio of 1-for-40.
The reverse split, approved by the company's board of directors on November 12, 2025, will become effective on December 15, 2025. The move is part of Clearmind's plan to regain compliance with the Nasdaq Minimum Bid Price Rule.
Following the split, the number of issued and outstanding common shares will be reduced from approximately 59.99 million to 1.50 million. No fractional shares will be issued; instead, all fractional holdings will be rounded up to the nearest whole share. Proportionate adjustments will also be made to the exercise price and number of shares underlying outstanding options and warrants.
Clearmind's pipeline is led by CMND-100 (MEAI), an oral drug candidate now in Phase I/IIa clinical testing for alcohol use disorder (AUD). The multinational trial recently dosed its first participant at Hadassah Medical Centre in Jerusalem and is designed to assess safety, tolerability, pharmacokinetics and preliminary efficacy.
Early top-line results from the first cohort were positive, with the Data and Safety Monitoring Board recommending continuation of the study.
The company is also advancing additional psychedelic-derived compounds in preclinical development for binge behaviors, depression, and metabolic disorders.
CMND has traded in the range of $0.10 to $2.18 over the past year. The stock closed yesterday at $0.114, down 6.08%. In premarket trading today, the stock is down another 23% at $0.08.
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