Clearmind Medicine Inc. (NASDAQ:CMND) shares are trading higher on Tuesday after the company announced results from its weight loss and metabolic disorder program.
What To Know: The company announced positive results from its pre-clinical trial, which utilized a treatment which combined Clearmind’s MEAI and SciSparc’s Palmitoylethanolamide (PEA). The trial aimed to determine the most effective dosage for the combination, assessing its safety and examining its impact on several metabolic and behavioral factors.
“We are excited by these latest results of our combination treatment for obesity and metabolic disorders. Over the past year, we have witnessed an increased demand of medication for weight loss, even though they exhibit severe side effects and have even lead to hospitalization. I believe that our proprietary drug candidate, MEAI, is a potentially better and safer option compared to other weight-loss drugs currently on the market due to previous and current positive results and the very good safety profile,” said Adi Zuloff-Shani, Clearmind’s CEO.
“Clearmind’s treatment targets fat loss while maintaining and elevating energy levels, motivation and other positive influences. These latest results strengthen our confidence in our MEAI-based treatment, including our combination treatment with SciSparc’s PEA.”
Shares of Clearmind traded on unusually high volume on Tuesday. According to data from Benzinga Pro, the stock experienced above-average trading volume of 3.60 million shares compared to its average volume of 71,163.
Additionally, trading of the stock was halted and then resumed during Tuesday’s session.
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CMND Price Action: Shares of CMND were up 2.36% at $3.08 at the time of publication, according to Benzinga Pro.
Image by Jan from Pixabay
