Clearmind Medicine (CMND) Q1 2026 earnings summary

Executive summary

• Engaged in phase I/IIa clinical trials for novel psychedelic medicines, focusing on Alcohol Use Disorder (AUD) and related indications.

• Advanced MEAI-based alcohol substitute beverage program, completing most pre-clinical studies for regulatory submission.

• Received regulatory approvals and IRB clearances for clinical trials in the US and Israel, with multiple sites initiated.

• Data and Safety Monitoring Board approved continuation of clinical trial after positive interim safety review.

Financial highlights

• Net loss for Q1 2026 was $3,854,583, compared to $1,071,621 in Q1 2025.

• Operating expenses rose to $3,659,915 from $1,496,174 year-over-year, driven by higher G&A and R&D costs.

• Financial loss of $190,708 in Q1 2026 versus financial income of $463,888 in Q1 2025, mainly due to changes in fair value of investments and warrants.

• Cash and cash equivalents increased to $9,257,766 as of January 31, 2026, from $6,573,813 at October 31, 2025.

• Working capital improved to $8,115,655 from $1,057,262 sequentially.

Outlook and guidance

• Cash position expected to provide sufficient liquidity for at least twelve months, but future capital requirements may exceed current resources.

• Dependent on additional financing to advance programs and potential commercialization.