Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 42

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 42
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 guarantee we will be able to enter into
these arrangements even if the intent is to do so.

There are risks involved with both establishing
our own commercial capabilities and entering into arrangements with third parties to perform these services. For example, recruiting and
training a sales force or reimbursement specialists is expensive and time consuming and could delay any product launch. If the commercial
launch of a product candidate for which we recruit a sales force and establish marketing and other commercialization capabilities is delayed
or does not occur for any reason, we would have prematurely or unnecessarily incurred these commercialization expenses. This may be costly,
and our investment would be lost if we cannot retain or reposition commercialization personnel.

Factors that may inhibit our efforts to commercialize
any approved product on our own include:

  the inability to recruit and retain adequate numbers of effective sales, marketing, reimbursement, customer service, medical affairs, and other support personnel;  

  the inability of sales personnel to obtain access to physicians or persuade adequate numbers of physicians to prescribe any future approved products;  

  the inability of reimbursement professionals to negotiate arrangements for formulary access, reimbursement, and other acceptance by payors;  

  the inability to price products at a sufficient price point to ensure an adequate and attractive level of profitability;  

  restricted or closed distribution channels that make it difficult to distribute our products to segments of the patient population;  

  the lack of complementary products to be offered by sales personnel, which may put us at a competitive disadvantage relative to companies with more extensive product lines; and  
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  unforeseen costs and expenses associated with creating an independent commercialization organization.  

If we enter into arrangements with third parties
to perform sales, marketing, commercial support and distribution services, the profitability of product revenue may be lower than if we
were to market and sell any products developed by us. In addition, we may not be successful in entering into arrangements with third parties
to commercialize our product candidates or may be unable to do so on terms that are favorable to us or them. We may have little control
over such third parties, and any of them may fail to devote the necessary resources and attention to sell and market our products effectively
or may expose us to legal and regulatory risk by not adhering to regulatory requirements and restrictions governing the sale and promotion
of prescription drug products, including those restricting off-label promotion. If we do not establish commercialization capabilities