Clearmind Medicine Reports Successful Ongoing Treatment of Participants at US Sites in its FDA-approved CMND-100 Phase I/IIa Clinical Trial for Alcohol Use Disorder

Rhea-AI Summary

Clearmind Medicine (Nasdaq: CMND) reported successful ongoing treatment of participants in the third cohort of its FDA-approved Phase I/IIa trial of CMND-100 for Alcohol Use Disorder (AUD) as of March 19, 2026. U.S. sites at Yale and Johns Hopkins continue treatment with no serious adverse events reported to date.

The multinational, multicenter study evaluates safety, tolerability, pharmacokinetics and preliminary efficacy of the company’s non-hallucinogenic, MEAI-based oral candidate in patients with moderate to severe AUD.

Positive

• Successful continuation of treatment in third cohort at Yale and Johns Hopkins
• No serious adverse events reported to date in U.S. sites
• FDA-approved Phase I/IIa protocol evaluating safety, tolerability, PK and preliminary efficacy

Negative

• Early-stage data: Phase I/IIa results are preliminary and not yet definitive for efficacy
• Ongoing enrollment and follow-up required before regulatory or commercialization conclusions

News Market Reaction – CMND

-3.15%

5 alerts

-3.15% News Effect

+24.0% Peak Tracked

-9.7% Trough Tracked

-$33K Valuation Impact

$1M Market Cap

0.2x Rel. Volume

On the day this news was published, CMND declined 3.15%, reflecting a moderate negative market reaction. Argus tracked a peak move of +24.0% during that session. Argus tracked a trough of -9.7% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $33K from the company's valuation, bringing the market cap to $1M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Trial cohort: Third cohort

1 metrics

Trial cohort Third cohort Ongoing Phase I/IIa CMND-100 trial for Alcohol Use Disorder

Market Reality Check

Price: $0.6600 Vol: Volume 541,043 is about 3...

high vol

$0.6600 Last Close

Volume Volume 541,043 is about 3.5x the 20-day average of 154,618, signaling elevated trading interest. high

Technical Shares trade well below the 200-day MA of 23.43 with price at 0.6765, reflecting a deeply depressed longer-term trend.

Peers on Argus

CMND fell 9.8% while peers flagged by momentum scanners like AIM (-11.76%) and A...

2 Down

CMND fell 9.8% while peers flagged by momentum scanners like AIM (-11.76%) and ARTL (-6.98%) also moved down. Sector note cites median peer move of -9.4%, indicating broader biotech weakness alongside the company-specific trial update.

Previous Clinical trial Reports

5 past events · Latest: Mar 11 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 11	Cohort 3 enrollment	Positive	-6.3%	Expanded Cohort 3 recruitment after positive Cohort 2 topline and DSMB approval.
Mar 04	DSMB progression	Positive	-4.8%	DSMB cleared trial to advance to third cohort with 80 mg dosing.
Feb 09	Safety update cohort 2	Positive	-8.2%	Additional positive safety data from second cohort with no serious adverse events.
Jan 14	Cohort 2 completion	Positive	+0.4%	Completion of treatment for all six patients in second cohort with favorable safety.
Dec 16	Cohort 2 enrollment done	Positive	-3.7%	Completion of enrollment for second cohort across three multinational sites.

Pattern Detected

Clinical-trial updates have typically been followed by negative next-day moves despite generally positive safety and progression messages.

Recent Company History

Over recent months Clearmind has repeatedly reported progress in its FDA-approved Phase I/IIa CMND-100 trial for Alcohol Use Disorder, including DSMB clearances and cohort transitions on Dec. 16, 2025, Jan. 14, 2026, Feb. 9, 2026, Mar. 4, 2026, and Mar. 11, 2026. Most of these clinical milestones carried positive safety and advancement signals but were followed by negative price reactions, suggesting a pattern where favorable trial news has not translated into sustained upside.

Historical Comparison

-4.5% avg move · In the past five clinical-trial updates, CMND’s average next-day move was -4.5%. Today’s -9.8% react...

clinical trial

-4.5%

Average Historical Move clinical trial

In the past five clinical-trial updates, CMND’s average next-day move was -4.5%. Today’s -9.8% reaction to continued Cohort 3 treatment appears more negative than its typical response to similar CMND-100 trial milestones.

Clinical news shows steady progression of CMND-100 in Alcohol Use Disorder from second-cohort enrollment and completion into Cohort 2 safety readouts and DSMB approvals, and onward to advancing and treating patients in the third cohort at multinational sites.

Market Pulse Summary

This announcement underscores continued progress in Clearmind’s FDA-approved Phase I/IIa trial of CM...

Analysis

This announcement underscores continued progress in Clearmind’s FDA-approved Phase I/IIa trial of CMND-100 for Alcohol Use Disorder, highlighting ongoing treatment in the third cohort at Yale and Johns Hopkins with no serious adverse events reported. In prior clinical updates, the company consistently emphasized safety, tolerability, and trial advancement. Investors may track forthcoming efficacy signals, future DSMB reviews, and any additional financing steps as key indicators for how this program and the share price could evolve.

Key Terms

alcohol use disorder, fda-approved, phase i/iia clinical trial, pharmacokinetics, +2 more

6 terms

alcohol use disorder medical

"drug candidate, for the treatment of Alcohol Use Disorder (AUD)."

A chronic medical condition characterized by an inability to control or stop drinking despite negative effects on health, work, relationships or safety; it ranges from mild to severe based on frequency, loss of control, and withdrawal symptoms. Investors care because its prevalence and treatment options affect markets for pharmaceuticals, medical services and health-related productivity—think of it like a long-running equipment fault in a factory that reduces output and creates demand for repairs and preventive solutions.

fda-approved regulatory

"ongoing FDA-approved Phase I/IIa clinical trial evaluating CMND-100"

FDA-approved means a medical product, drug, device or treatment has passed the U.S. Food and Drug Administration’s review for safety and effectiveness for a specific use. Think of it like a formal safety and performance seal that allows the product to be marketed for that purpose in the U.S.; for investors, approval reduces regulatory uncertainty, enables sales and reimbursement pathways, and can materially affect a company’s revenue prospects and valuation.

phase i/iia clinical trial medical

"ongoing FDA-approved Phase I/IIa clinical trial evaluating CMND-100"

An early-stage clinical study that combines initial safety testing (Phase I) with a first look at whether a treatment shows signs of working in patients (Phase IIa). Investors watch these trials because they move a therapy from lab research toward proof that it can help people; successful results reduce technical risk and can unlock bigger trials, partnerships, regulatory attention, or increases in a company’s value — like a prototype test that determines whether a product should go into full production.

pharmacokinetics medical

"designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy"

Pharmacokinetics is the study of how a substance, such as a drug or chemical, moves through and is processed by the body over time. It tracks how it is absorbed, distributed, broken down, and eventually eliminated. For investors, understanding pharmacokinetics helps gauge the effectiveness, safety, and potential risks of new medications or treatments, which can influence a company’s success and valuation in the healthcare industry.

multicenter study medical

"The Phase I/IIa clinical trial is a multinational, multicenter study designed"

A multicenter study is a research trial run at several independent hospitals or clinics at the same time, rather than at just one location. Like road-testing a new car model in different cities and climates, it checks whether results hold up across diverse groups and settings, which makes findings more reliable and reduces the chance that a positive result was a fluke—information investors use to judge scientific credibility, regulatory risk, and market potential.

neuroplastogen-derived medical

"non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve"

Neuroplastogen-derived describes a drug or product made from or based on compounds that promote neuroplasticity — the brain’s ability to rewire and form new connections. For investors, this signals a therapy’s intended mechanism of action and market positioning: such treatments aim to repair or improve brain function in conditions like depression or injury, which can mean high clinical and regulatory risk but also potentially large therapeutic value if proven effective.

AI-generated analysis. Not financial advice.

Vancouver, Canada, March 19, 2026 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (Nasdaq: CMND) (“Clearmind” or the "Company"), a clinical-stage biotech company focused on the discovery and development of novel, non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve major under-treated health problems, today announced the successful continuation of treatment of participants in the third cohort of its ongoing FDA-approved Phase I/IIa clinical trial evaluating CMND-100, the Company’s proprietary non-hallucinogenic MEAI-based oral drug candidate, for the treatment of Alcohol Use Disorder (AUD).

This positive progress follows the Company’s recent announcement on March 11, 2026, regarding the advancement of participant enrollment for the third cohort at Yale University, Johns Hopkins University, and Tel Aviv Sourasky Medical Center. Patients at the prestigious U.S. institutions – Yale University and Johns Hopkins University – continue to progress successfully through their treatment protocol, demonstrating continued safety and tolerability with no serious adverse events reported to date.

The Phase I/IIa clinical trial is a multinational, multicenter study designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of CMND-100 in patients with moderate to severe AUD. The successful ongoing treatment at these leading U.S. medical centers reflects strong momentum and confidence in CMND-100 as a potential breakthrough therapy for AUD.

“Building on the encouraging recruitment momentum and positive topline results from prior cohorts, we are pleased with the successful continuation of treatment in our U.S. clinical sites,” said Dr. Adi Zuloff-Shani, Chief Executive Officer of Clearmind Medicine.

About Clearmind Medicine Inc.

Clearmind is a clinical-stage neuroplastogens pharmaceutical biotech company focused on the discovery and development of non-hallucinogenic, second generation, neuroplastogen-derived therapeutics to solve widespread and underserved health problems, including alcohol use disorder. Its primary objective is to research and develop psychedelic-based compounds and attempt to commercialize them as regulated medicines, foods, or supplements.

The Company’s intellectual portfolio currently consists of nineteen patent families, including 31 granted patents. The Company intends to seek additional patents for its compounds whenever warranted and will remain opportunistic regarding the acquisition of additional intellectual property to build its portfolio.

Shares of Clearmind are listed for trading on Nasdaq under the symbol "CMND."

For further information, visit: https://www.clearmindmedicine.com or contact:

Investor Relations
invest@clearmindmedicine.com

Telephone: (604) 260-1566
US: CMND@crescendo-ir.com

General Inquiries
Info@Clearmindmedicine.com
www.Clearmindmedicine.com

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the timing and progress of its clinical trials. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report on Form 20-F for the fiscal year ended October 31, 2025 and subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Clearmind is not responsible for the contents of third-party websites.

FAQ

What did Clearmind (CMND) announce on March 19, 2026 about the CMND-100 trial?

Clearmind announced continued successful treatment of third-cohort participants at U.S. sites with no serious adverse events. According to the company, Yale and Johns Hopkins patients are progressing through the FDA-approved Phase I/IIa protocol for CMND-100 in AUD.

Are there any safety concerns reported in the CMND-100 Phase I/IIa trial (CMND)?

No serious adverse events have been reported to date at the U.S. sites in the third cohort. According to the company, patients at Yale and Johns Hopkins continue to demonstrate safety and tolerability under the trial protocol.

What does the Phase I/IIa CMND-100 trial evaluate for Clearmind (CMND)?

The trial evaluates safety, tolerability, pharmacokinetics and preliminary efficacy of CMND-100 in moderate to severe AUD. According to the company, it is a multinational, multicenter FDA-approved study testing an oral MEAI-based candidate.

Which U.S. medical centers are treating CMND-100 participants in the March 2026 update?

Yale University and Johns Hopkins University are treating participants in the third cohort at U.S. sites. According to the company, these prestigious centers are part of the multinational Phase I/IIa study network for CMND-100.

Does the March 19, 2026 update confirm CMND-100 efficacy for Alcohol Use Disorder (CMND)?

No, the update confirms ongoing treatment and safety observations but does not confirm efficacy. According to the company, the study is assessing preliminary efficacy alongside safety and pharmacokinetics in early-phase cohorts.

What are the next steps for Clearmind's CMND-100 trial after the March 19, 2026 announcement?

Next steps include continued enrollment, dosing and follow-up of cohort participants and collection of safety and PK data. According to the company, additional data from ongoing cohorts will inform further development decisions for CMND-100.