Clearmind Medicine receives NASDAQ notice for equity deficiency

Clearmind Medicine Inc. (NASDAQ: CMND) received a notification from Nasdaq on November 3, 2025, stating the company no longer meets the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market.

The biotech company reported stockholders' equity of $1,065,668 in its July 31, 2025 financial statements, falling short of the required $2,500,000 minimum under Nasdaq Listing Rule 5550(b)(1). The company also does not meet alternative compliance measures of market value of listed securities or net income from continuing operations.

The notification does not immediately affect Clearmind's listing status, and shares continue trading under the symbol "CMND." The company has 45 calendar days until December 18, 2025, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 calendar days to demonstrate compliance.

Clearmind previously entered securities purchase agreements in September 2025 for convertible promissory notes totaling up to $10,000,000. In late October 2025, $1,045,062 of outstanding amounts were converted into 885,000 common shares. The company stated it expects additional note conversions could help demonstrate compliance with the equity requirement.

The Vancouver-based company focuses on developing psychedelic-derived therapeutics and holds an intellectual property portfolio of 19 patent families including 31 granted patents. Shares also trade on the Frankfurt Stock Exchange under symbol "CWY0."

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