Bright Minds BiosciencesNASDAQ: DRUG

VANCOUVER, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE: DRUG) (NASDAQ: DRUG) (“Bright Minds” or the “Company”) announces that further to its news release of October 18, 2024, the Company has closed a non-brokered private placement of 1,612,902 common shares in the capital of the Company (“Shares”) at a price of USD$21.70 per Share for aggregate gross proceeds of USD$35,000,000 (the “Offering”).

Bright Minds Biosciences' BMB-101, a 5-HT2C receptor agonist, shows promise in treating drug-resistant epilepsy, with favorable Phase 1 safety and efficacy data. The company's proprietary platform targets serotonin regulation, aiming to create selective therapies with fewer side effects. DRUG's recent $35 million private placement funds Phase 2 trials, enhancing its financial outlook and potential for significant revenue if BMB-101 is successful.

NEW YORK AND VANCOUVER, British Columbia, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (Bright Minds or the Company) (NASDAQ: DRUG), a biotechnology company focused on developing novel therapies for neurological and neuropsychiatric disorders, today announced that it is once again collaborating with Firefly Neuroscience, Inc. (Firefly) (NASDAQ: AIFF), an Artificial Intelligence (AI) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, to provide a full analysis of the electroencephalogram (EEG) data in the Company's BREAKTHROUGH study, an open-label Phase 2 clinical trial evaluating the safety, tolerability, and efficacy of BMB-101, a highly selective 5-HT2C receptor agonist, in adult patients with classic Absence Epilepsy and Developmental Epileptic Encephalopathy (DEE).

This week, the stock market witnessed a peculiar price movement involving biotech firm Bright Minds Biosciences (NASDAQ: DRUG), which skyrocketed to historic levels, and it seems several investors have profited significantly from this momentum.

When most major equities recorded notable losses, the share price of biotech company Bright Minds Biosciences (NASDAQ: DRUG) experienced a meteoric rise, with minimal fundamental factors supporting this momentum.

Bright Minds Biosciences NASDAQ: DRUG, a little-known biotech company, became the talk of the market yesterday after its stock skyrocketed by 1,445% in a single trading session. Typically trading under 1 million shares daily, the stock saw over 100 million shares change hands without any direct news.

Yesterday, Bright Minds Biosciences Inc (CSE:DRUG, OTCQB:BMBIF), a biotech in the field of psychedelics, saw its shares rocket by a frankly psychedelic-looking 1,445.8% to $38.49 from $2.50 at the start of the day.  At the request of the Canadian Investment Regulatory Organization (CIRO), Bright Minds confirmed that management "is unaware of any material changes in the company's operations that would account for the recent increase in market activity".

Bright Minds Biosciences announces Phase 2 Clinical trial to evaluate BMB-101 in a group of drug-resistant epilepsy disorders with high unmet needs BMB-101 is a novel highly selective 5-HT2C agonist. Its G-protein biased agonism provides an improved mechanism of action for chronic dosing Financial runway extending into 2026 enabling key data readout Conference call & KOL Event – will be held as a webcast on September 25th at 10:00 ET  NEW YORK , Sept.

FDA confirms the favorable benefit-risk profile of WAKIX Harmony Biosciences focused on continuing to advance its pipeline assets across three rare CNS franchises; anticipates at least one new product or indication launch annually over the next five years PLYMOUTH MEETING, Pa. , June 25, 2024 /PRNewswire/ -- Harmony Biosciences Holdings, Inc. (Nasdaq: HRMY), today announced that the U.S. Food and Drug Administration denied the Citizen Petition filed by a short seller claiming that WAKIX is not safe and effective for the treatment of excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy.