Clearmind Medicine (CMND) Q2 2026 earnings summary

Executive summary

• Engaged in phase I/IIa clinical trials for non-hallucinogenic neuroplastogen-derived therapeutics targeting Alcohol Use Disorder (AUD) and related conditions.

• Advanced clinical trial for CMND-100, with positive safety reviews and progression to higher dosing cohorts.

• Expanded MEAI-based alcohol substitute beverage program, completing most pre-clinical studies and entering strategic manufacturing agreements.

Financial highlights

• Net loss for Q2 2026 was $2.05M, up from $0.78M in Q2 2025; six-month net loss was $5.90M, up from $1.86M year-over-year.

• Operating expenses for the quarter were $1.57M (G&A: $0.92M, R&D: $0.65M); six-month operating expenses totaled $5.23M.

• Cash and cash equivalents at April 30, 2026, were $11.42M, up from $3.92M at October 31, 2025.

• Working capital increased to $11.33M from $1.06M at prior year-end.

• No revenues generated during the period.

Outlook and guidance

• Cash position expected to provide liquidity for at least 12 months, but future capital requirements may exceed current resources.

• Continued dependence on external financing to fund operations and clinical development.