Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 67

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 67
---
 to incur higher costs
and could cause the delay or termination of clinical trials, regulatory submissions, required approvals, or commercialization of our product
candidates. Furthermore, if our suppliers fail to meet contractual requirements and we are unable to secure one or more replacement suppliers
capable of production at a substantially equivalent cost, our clinical trials may be delayed, and we could lose potential revenue.

We have no sales, distribution, or marketing experience, and may
invest significant financial and management resources to establish these capabilities. If we are unable to establish such capabilities
or enter into agreements with third parties to market and sell our future products, if approved, we may be unable to generate any revenues.

Given our stage of development, we have no sales,
distribution, or marketing experience. To successfully commercialize any products that may result from our development programs, we will
need to develop sales and marketing capabilities in the United States, Europe and other regions, either on our own or with others. We
may enter into strategic alliances with other entities to utilize their mature marketing and distribution capabilities, but we may be
unable to enter into marketing agreements on favorable terms, if at all. If our future strategic collaborators do not commit sufficient
resources to commercialize our future products, if any, and we are unable to develop the necessary marketing capabilities on our own,
we may be unable to generate sufficient product revenue to sustain our business. We will be competing with many companies that currently
have extensive and well-funded marketing and sales operations. Without a significant internal team or the support of a third party to
perform marketing and sales functions, we may be unable to compete successfully against these more established companies.

Risks Related to Our Intellectual Property

If we are unable to obtain and maintain effective patent rights
for our product candidates or any future product candidates, we may not be able to compete effectively in our markets. If we are unable
to protect the confidentiality of our trade secrets or know-how, such proprietary information may be used by others to compete against
us.

We rely upon a combination of patent protection
and confidentiality agreements to protect the intellectual property related to our technologies and product candidates. Our success depends
in large part on our ability to obtain and maintain patent and other intellectual property protection in the United States and in other
countries with respect to our proprietary technology and product candidates.

We have sought to protect our proprietary position
by filing patent applications in the United States and in other countries, with respect to our novel technologies and product candidates,
which are important to our business