Clearmind Successfully Treats Cocaine Addiction with Psychedelic Molecule; Shares Soar 70%
Clearmind Medicine Inc. (Nasdaq: CMND) has achieved positive results in addiction treatment for its revolutionary treatment targeting cocaine addiction. The company’s innovative psychedelic molecule, 5-Methoxy-2-aminoindane (MEAI), exerts a euphoric, alcohol-like experience and reduces the desire to consume alcoholic beverages and other substances. The company’s share price rose more than 70% in morning trading following the news.
Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine, commented, “These results, previously announced, offer a beacon of hope, demonstrating the potential efficacy of MEAI in reducing cocaine-related conditions. Our unique psychedelic compound has shown remarkable results in preclinical trials for cocaine addiction. These promising results from our MEAI-based treatment offer a potential paradigm shift in how we approach the complex challenge of cocaine addiction, an addiction for which no dedicated treatment has yet been developed.”
Highlights
The trial was carried out following a previous experiment that showed a marked decrease in cocaine-induced craving among rats treated with MEAI.
Clearmind’s groundbreaking research resulted in a patent application in the US as part of the company’s ongoing collaboration with SciSparc Ltd. (Nasdaq: SPRC).
About Clearmind Medicine Inc.
Clearmind is a psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-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 fifteen patent families. 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 and the Canadian Securities Exchange under the symbol “CMND” and the Frankfurt Stock Exchange under the symbol “CWY.”
