Clearmind Medicine Inc ( CMND ) shares are trading higher on Thursday. The company reported that Hadassah Medical Center in Jerusalem has given its final approval for an ongoing Phase 1/2a clinical trial, which is assessing CMND-100’s potential to treat alcohol use disorder (AUD).

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What To Know: The clinical-stage biotech company’s CMND-100 is a proprietary MEAI-based oral drug candidate. Clearmind received final approval for its ongoing Phase 1/2a clinical trial evaluating CMND-100 for the treatment of AUD.

The first cohort treatment of Clearmind’s clinical trial was successfully completed. The approval enables Hadassah Medical Center to join the company’s clinical trial.

The Yale School of Medicine’s Department of Psychiatry, Johns Hopkins University School of Medicine, and Israel’s Tel Aviv Sourasky Medical Center are among the other institutions taking part in the trial. The study at Hadassah-University Medical Center will be supervised by Joseph Caraco, the director of the clinical pharmacology unit in the medical department.

The Phase 1/2a clinical trial is a multinational, multi-center investigation intended to assess the pharmacokinetic profile, safety and tolerability of CMND-100. Additionally, the study will gauge its initial success in lowering alcohol consumption and cravings in patients with alcohol use disorder.

According to the World Health Organization, AUD causes 4.7% of all deaths globally; Clearmind’s trial aims to address this issue. With the goal of providing a ground-breaking solution for those impacted by AUD and their families, the company expects to make additional steps in patient enrollment and data collection throughout its clinical site.

CMND Price Action: Clearmind shares were up 18.05%, trading at approximately 37 cents at the time of publication on Thursday, according to Benzinga Pro. Operating in the pharmaceutical industry, Clearmind Medicine’s 52-week range shows notable volatility, peaking at $2.18, indicating a high level of investor speculation or interest in the company’s potential for growth.

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