Clearmind Medicine Inc. (NASDAQ: CMND) confirmed that it has met Nasdaq’s minimum bid‑price requirement, restoring full listing status after a period of non‑compliance that began on December 4, 2025. Nasdaq’s Listing Qualifications Department issued a letter on December 31 stating that from December 15 through December 29 the closing bid price had been $1.00 or higher for ten consecutive business days, satisfying Rule 5550(a)(2).
The compliance milestone was achieved in part by a 1‑for‑40 reverse stock split that took effect on December 15, 2025. The split increased the per‑share price to just above the $1.00 threshold, allowing the company to meet the bid‑price test while preserving the overall market value of the company’s equity. The reverse split also reset the compliance clock, giving Clearmind a fresh 180‑day window to maintain the required bid price and avoid delisting.
Prior to the split, Clearmind’s share price had fallen below $1.00 for more than 30 consecutive business days, a situation that triggered Nasdaq’s deficiency notice. The company’s financials reflected the pressure: Q3 2025 net loss of $1.31 million and a fiscal‑year 2024 loss of $5.3 million, with no dividends paid. These losses underscore the challenges faced by a clinical‑stage biotech that is still developing its pipeline and seeking additional capital. The reverse split was a tactical move to preserve listing status while the company continues to pursue its pipeline of psychedelic‑derived therapeutics for alcohol use disorder.
Regaining compliance removes the immediate threat of delisting and provides a stable platform for future capital‑raising efforts. However, the event does not alter the fundamental business risks: the company remains in the early‑stage development phase, with no approved products and a pipeline that depends on clinical trial outcomes. Management’s focus remains on advancing the lead candidate through regulatory milestones and securing additional funding to support ongoing research and development. The compliance win is therefore a necessary but not sufficient condition for long‑term success.
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