Clearmind Medicine regains compliance with NASDAQ stockholders' equity rule

Clearmind Medicine Inc. (NASDAQ: CMND) received notification from NASDAQ on December 10 that the company has regained compliance with the exchange's minimum stockholders' equity requirement, according to a company statement.

The biotech company met NASDAQ Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders' equity of at least $2.5 million. NASDAQ based its determination on Clearmind's Form 6-K filing from December 5.

NASDAQ will continue monitoring the company's compliance with the stockholders' equity rule. The exchange warned that if Clearmind fails to demonstrate compliance in its next periodic report, the company may face delisting.

Clearmind develops psychedelic-derived therapeutics for health conditions including alcohol use disorder. The Vancouver-based company operates as a clinical-stage pharmaceutical biotech focused on neuroplastogen-derived treatments.

The company holds 19 patent families with 31 granted patents in its intellectual property portfolio. Clearmind shares trade on NASDAQ under the symbol CMND and on the Frankfurt Stock Exchange as CWY0.

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