Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 114

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 4
Chunk 114
---
 trials of MDMA as assisted
therapy for PTSD.

COVID-19 Pandemic implications

AUD is a huge problem that costs billions every
year. But the problem was only escalated and more people suffer, partially due to the COVID-19 pandemic. Economists as well as healthcare
and addiction specialists agree the pandemic and quarantines of 2020 had a significant impact on nationwide alcohol consumption. For example,
the National Center for Drug Abuse Statistics has reported that during the pandemic and quarantines of 2020, year-over-year alcohol sales
were up 234%, 34.1% of respondents in a survey conducted by Johns Hopkins University reported binge drinking at least once, with 7.0%
of respondents reporting extreme binge drinking and 45.7% of respondents reporting increased stress as a reason for their increased drinking.
In addition, it has been estimated that depression symptoms increased by a factor of 3 compared to pre-COVID-19 levels, with severe depression
symptoms increasing by a factor of 7.5 compared to pre-COVID-19 levels.

Markets Overview and Opportunity

The current indications we are pursuing with our
MEAI molecule are focused on two main verticals: (1) AUD and binge drinking (2) obesity and metabolic disorder. Additionally, we have
engaged Professor Gal Yadid from the Gonda Multidisciplinary Brain Research Center located at Bar Ilan University (Ramat Gan, Israel)
to advance the evaluation of MEAI as a potential treatment for addictions and other binge behaviors. Prof. Yadid, a prominent figure in
the research and development of treatments for psychiatric disease, specifically drug addiction, depression, and PTSD, who is also a member
of our Scientific Advisory Board, and his team conducted a series of studies to explore the mechanism of action and specific neural targets
of MEAI to evaluate its efficacy as a potential therapeutic agent in the treatment of addiction and related behaviors. The results of
pre-clinical research studies suggested that MEAI may be effective in the treatment of substance addiction and specifically cocaine without
interrupting the natural reward process. According to the United Nations Office on Drugs and Crime’s “2022 World Drug Report”,
of the estimated 284 million people who had used drugs in the past year, approximately 13.6%, 38.6 million, are estimated to have suffered
from drug use disorders. While some addictions, such as drugs and alcohol, are more concerning than others, addiction and compulsive behavior