Bright Minds Biosciences Inc C.DRUG

Alternate Symbol(s): DRUG

Healthcare Biotechnology

Bright Minds Biosciences Inc. is a biotechnology company. The Company is focused on developing transformative treatments for neuropsychiatric disorders, epilepsy, and pain. It has a portfolio of next generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as treatment resistant epilepsy, treatment resistant depression, post-traumatic stress disorder (PTSD), and pain. Its pipeline includes BMB-101, BMB-202, and BMB-xxx. BMB-101 is for the treatment of Dravet syndrome and other neurological and neuro-psychiatric disorders. The Company has a portfolio of patented, selective serotonin (5-HT2C, 5-HT2A and 5-HT2C/A-receptor subtypes) agonists that were identified by using high-throughput screening methods in combination with advanced molecular modeling techniques to interrogate the interaction between the drug and its targeted receptors to increase downstream signaling while avoiding off-target effects.

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Bright Minds Biosciences Inc > Mathieu Martin - Stocks and Stones - The Good, The Bad......

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Post by Possibleidiot01on Nov 07, 2024 9:51am

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Post# 36300834

Mathieu Martin - Stocks and Stones - The Good, The Bad......

I was unsure which category to put this one in. On October 15, the shares of Bright Minds Biosciences (CSE: DRUG) went parabolic on seemingly no news. And when I say parabolic, I mean a 25 times increase (2,500%) in one day. Apparently, one of their peers in the US developing a similar drug was acquired the day before for $2.6 billion, and US hedge funds immediately jumped on Bright Minds. The stock went on a crazy run, reaching a high of $108 per share from only $1.64 a few days prior, a 65-bagger in four days. The company immediately arranged a fully subscribed US $35 million financing, and the CEO unloaded $12 million worth of stock in the market at $40 per share. It's still unclear whether this is legit or another pump & dump. I guess time will tell. In the meantime, this one has been pretty captivating to watch.