Summary by Moomoo AI
Clearmind Medicine reported a net loss of $1.07 million for Q1 2025, compared to $1.37 million in Q1 2024. Operating expenses increased to $1.50 million from $1.38 million, primarily due to higher research and development costs of $461,438 focused on upcoming clinical trials. The company maintained a strong cash position of $5.78 million as of January 31, 2025.The company achieved significant milestones during the quarter, including receiving Yale's IRB approval for its Phase I/IIa clinical trial of CMND-100 for alcohol use disorder (AUD). The trial will be conducted at multiple sites including Yale School of Medicine, Johns Hopkins University, and IMCA Center in Israel. Additionally, Clearmind strengthened its intellectual property portfolio with new patents in Macau and patent publications in Europe, Mexico, and South Korea.The company signed a non-binding term sheet with Dr. Glitter Pty Ltd to develop and commercialize MEAI-based alcohol alternatives using ActivCrystal™ technology, marking a strategic move to expand its market presence. Management believes current cash reserves will provide sufficient liquidity for at least twelve months of operations.
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