Clearmind Medicine Inc. implemented a 1-for-10 reverse stock split effective May 21, 2026, in an effort to increase its share price and regain compliance with Nasdaq listing requirements.
The primary goal of the reverse stock split is to satisfy Nasdaq’s Minimum Bid Price Rule and maintain the company’s listing on the exchange. The company’s board of directors approved the measure on March 18, 2026.
Clearmind Medicine is a clinical-stage biotechnology company focused on developing psychedelic-derived and neuroplastogen-based treatments for major under-treated health conditions.
Under the terms of the reverse stock split, every ten existing common shares were consolidated into one common share. Reverse stock splits reduce the number of outstanding shares while proportionally increasing the share price, though they do not change the company’s overall market value.
Following the reverse split, the company’s outstanding shares were reduced from approximately 10.19 million shares to about 1.02 million shares, subject to adjustments for fractional shares. Fractional shares were rounded up to the nearest whole share.
CMND shares recently traded around $2.35, down approximately 6.75% on the day, after fluctuating between an intraday low of $2.27 and a high of $2.55.
Based on an estimated post-split share count of roughly 1.02 million shares and a stock price near $2.35, Clearmind’s implied market capitalization would be approximately $2.4 million.
The stock has experienced significant volatility over the past year, including multiple reverse stock splits aimed at maintaining Nasdaq compliance. Clearmind previously completed a 1-for-40 reverse split in December 2025.
