Clearmind Medicine Inc (NASDAQ:CMND) on Tuesday announced advancement in its proprietary MEAI-based alcohol substitute beverage program.
What Happened: Clearmind previously announced the initiation of the last pre-clinical study required for a novel-food application submission. The project is being led by former Red Bull Canada and Juul Labs Canada executive Nicholas Kadysh, who is serving as a special advisor to the company.
On Tuesday, Clearmind said its alcohol substitute was granted patents in the U.S., India and Europe. The company also highlighted that the no/low alcohol category is forecasted to grow at a volume CAGR of more than 6% between 2023 and 2027.
Clearmind is a clinical-stage psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and underserved health problems.
How To Buy CMND Stock
By now you're likely curious about how to participate in the market for Clearmind – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Clearmind, which is trading at $0.99 as of publishing time, $100 would buy you 101.01 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
CMND Price Action: Clearmind shares were slightly down 1.95% at $1at the time of publication, according to Benzinga Pro.
Photo: 3844328 from Pixabay.