Mindbio preparing for phase 3 clinical trials

Executive Summary

• Mindbio Therapeutics is upgrading its mobile‑app and back‑end software to support Phase 3 clinical‑trial data collection and analysis.
• The software will be acquired from a vendor in exchange for 50 million common shares at a $0.009 VWAP and 35 million share‑purchase warrants, creating a potential future capital‑raising source.
• The company is completing Phase 2B dosing with top‑line results expected this quarter, positioning the lead candidate MB22001 for Phase 3 trials.

Key Details

• Software Acquisition: Vendor receives 50 million common shares at the 20‑day VWAP of $0.009 per share (≈ $450,000 total).
• Warrant Issuance: Vendor also receives 35 million share purchase warrants; exercise price set to the prior‑day closing price (minimum $0.05) and determined on integration completion.
• Integration Timeline: Expected to take a few months before full Phase 3 readiness.
• Purpose of Upgrade: Enables collection, storage, and analysis of biometric data from wearables (Fitbit, Garmin), pharmacokinetic/pharmacodynamic metrics, EEG/ECG, DNA, bloodwork, and psychometric testing.
• Intellectual Property Moat: Enhances the IP surrounding lead candidate MB22001 (microdose LSD formulation for safe take‑home use).
• Clinical Progress: Final dosing of Phase 2B trial completed; top‑line readout anticipated in Q1 2026.
• Future Trial Plans: Transition from academic setting to a large‑scale global commercial CRO for Phase 3 execution.

Notable Quotes

“The updating of our data collection and analysis capabilities in preparation for phase 3 clinical trials is another small step towards our commercialization objective for our lead candidate drug, MB22001,” – Justin Hanka, CEO, Mindbio Therapeutics.