Company: CMND
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005490
Chunk: 8

Company: Clearmind Medicine Inc.
Filing Date: 2025-01-22
Form: 20-F
Item: Item 3
Chunk 8
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 we are successful in obtaining
regulatory approvals to market MEAI or any future product candidates, our revenue earned from such product candidates will be dependent
in part upon the breadth of the product label, the size of the markets in the territories for which we gain regulatory approval for such
products, the accepted price for such products, our ability to obtain reimbursement for such products at any price, whether we own the
commercial rights for that territory in which such products have been approved and the expenses associated with manufacturing and marketing
such products for such markets. Therefore, we may not generate significant revenue from the sale of such products, even if approved. Further,
if we are not able to generate significant revenue from the sale of our approved products, we may be forced to curtail or cease our operations.
Due to the numerous risks and uncertainties involved in product development, it is difficult to predict the timing or amount of increased
expenses, or when, or if, we will be able to achieve or maintain profitability.

We expect that we will need to raise substantial additional funding,
which may not be available on acceptable terms, or at all. Failure to obtain funding on acceptable terms and on a timely basis may require
us to curtail, delay or discontinue our product development efforts or other operations.

We are currently advancing MEAI through clinical
development in multiple indications, in order to obtain regulatory approvals. Developing product candidates is expensive, and we expect
our research and development expenses to increase substantially in connection with our ongoing activities, particularly as we advance
product candidates through clinical trials and regulatory approvals. Furthermore, we expect to incur additional ongoing costs associated
with operating as a public company.

To date, we have financed our operations primarily
through the sale of equity securities. As of October 31, 2024, we had cash and cash equivalents of $6,573,813. We will require significant
additional financing to fund our operations. Our future funding requirements will depend on many factors, including but not limited to:

  the progress, results and costs of our ongoing pre-clinical and anticipated clinical trials of MEAI and any future product candidates;  

  the cost, timing and outcomes of regulatory review of MEAI and any future product candidates;                                                                                                         
  the scope, progress, results and costs of product development, laboratory testing, manufacturing, preclinical development and clinical trials for any other product candidates that we may develo...  
  the cost of our future activities, including establishing sales, marketing and distribution capabilities for any product candidates