Clearmind Medicine Inc. (NASDAQ: CMND) is a clinical-stage biotech company based in Vancouver, Canada, specializing in developing innovative treatments for mental health disorders. The company has announced a reverse stock split at a ratio of 40 for 1 set to take place on December 15, 2025. This strategic move aims to comply with the Nasdaq Minimum Bid Price Rule.
The reverse stock split will significantly reduce CMND's outstanding common shares from approximately 60 million to 1.5 million, while the authorized share capital remains unchanged. This decision, approved by the board of directors on November 12, 2025, will not issue any fractional shares. Instead, fractional shares will be rounded up to the nearest whole share.
Following the reverse stock split announcement, CMND's share price saw a notable decline, dropping 29.92% in after-hours trading. Before the announcement, the stock closed at $0.11, a decrease of 6.08%. The current stock price stands at $2.61, reflecting a decrease of approximately 12.14%.
The stock has experienced significant volatility, with a trading range between $2.54 and $3.25 on the day of the announcement. Over the past year, CMND's stock reached a high of $87.20 and a low of $2.54. The company's market capitalization is approximately $14.27 million, with a trading volume of 247,625 shares.
