Clearmind Medicine Inc. Regains Compliance with Nasdaq Listing Requirements

Clearmind Medicine Inc. a biotech company in the field of psychedelic-derived therapeutics, has successfully regained compliance with Nasdaq’s minimum bid price requirement. The company, known for its innovative approach to addressing major health challenges, received formal notification from The Nasdaq Stock Market LLC on December 12, 2023, confirming its adherence to the Nasdaq Listing Rule 5550(a)(2). This rule mandates that a company’s common shares maintain a minimum bid price of $1.00 per share.

The compliance was achieved after Clearmind’s common shares consistently closed at or above $1.00 for ten consecutive business days. This positive development led to the cancellation of a previously scheduled hearing with the Nasdaq Listing Qualifications Hearings Panel, which had been arranged by Clearmind to address the suspension threat of its securities from Nasdaq.

Clearmind’s re-establishment of compliance with Nasdaq Listing Rule 5450(a)(1) is a significant milestone, marking the end of concerns regarding the company’s bid price deficiency. This ensures that Clearmind’s common shares will continue to be listed and traded on Nasdaq, maintaining the company’s presence in key financial markets.

Specializing in the development of psychedelic-based compounds, Clearmind aims to offer novel solutions for widespread and underserved health issues, such as alcohol use disorder. The company’s commitment to research and development in this emerging field is underpinned by an expanding intellectual portfolio, currently comprising fourteen patent families. Clearmind’s strategy includes seeking additional patents for its compounds and remaining open to acquiring further intellectual property to strengthen its portfolio.

Clearmind Medicine Inc.’s shares are actively traded on major stock exchanges, including Nasdaq and the Canadian Securities Exchange, under the symbol “CMND”, and the Frankfurt Stock Exchange under “CWY”. This latest achievement in compliance underscores the company’s ongoing commitment to adhering to regulatory standards while pursuing its mission of developing innovative medical solutions.